Modified Mannarino Market Risk Indicator

TraderHalai Updated   
This indicator is meant to give an overall indication of risk and a very basic implementation of the modified mannarino market risk indicator. I take no credit for the original formula, and just decided to hack this together so that it could be useful to the community
Release Notes:
Update comment to reflect code
Release Notes:
Update shot to show S & P futures as comparison
Release Notes:
Update timeframe to be 'daily' instead of dynamic. Tradingview doesn't like lower timeframes.
Release Notes:
Percentile axis / label
Release Notes:
Bug fix to correct GDP data now represented as Trillions by Tradingview. Recalibrate percentiles based on past maximum MMMRI values
Release Notes:
  • Use GDPPOT instead of GDP - more recent data.
  • Use lookback period instead of hardcoded value
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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