PROTECTED SOURCE SCRIPT
DANGER SP500
This indicator is designed to identify severe correlation anomalies between the Volatility Index (VIX) and the S&P 500 (SPX). It operates on the premise that a simultaneous rise in both assets often precedes market corrections or significant local tops.
The underlying concept is "fear in the rally": investors are buying equities (driving price up), but at the same time, they are aggressively buying protection (Puts), causing the VIX to spike.
⚠️ Strict Usage Rules
To guarantee the mathematical reliability of the VIX data, this indicator includes strict security restrictions:
EXCLUSIVE ASSET: Designed solely for the S&P 500 (SPX, SPY, US500, ES1!). It should not be used on Crypto or Forex, as the VIX correlation does not apply in the same way.
LOCKED TIMEFRAME: It only functions on the Daily Chart (1D).
Note: The script includes a runtime.error block that will prevent execution if you attempt to load it on intraday charts (H1, H4, etc.) to avoid false signals caused by market noise.
Visualization
Red Background: Visually highlights the exact moment the alert is triggered.
"DANGER" Label: Prints clearly above the signaled bar.
Max Price Display: Unlike other indicators that mark the close, this tool specifically labels the HIGH of the candle, allowing you to identify the exact point of price extension.
🔔 Alerts
The script is ready for TradingView Alerts. The alert message is dynamic and will include the exact High price reached during the signal candle.
Disclaimer: This script is for technical analysis purposes only and does not constitute financial advice. Trading involves risk.
The underlying concept is "fear in the rally": investors are buying equities (driving price up), but at the same time, they are aggressively buying protection (Puts), causing the VIX to spike.
⚠️ Strict Usage Rules
To guarantee the mathematical reliability of the VIX data, this indicator includes strict security restrictions:
EXCLUSIVE ASSET: Designed solely for the S&P 500 (SPX, SPY, US500, ES1!). It should not be used on Crypto or Forex, as the VIX correlation does not apply in the same way.
LOCKED TIMEFRAME: It only functions on the Daily Chart (1D).
Note: The script includes a runtime.error block that will prevent execution if you attempt to load it on intraday charts (H1, H4, etc.) to avoid false signals caused by market noise.
Visualization
Red Background: Visually highlights the exact moment the alert is triggered.
"DANGER" Label: Prints clearly above the signaled bar.
Max Price Display: Unlike other indicators that mark the close, this tool specifically labels the HIGH of the candle, allowing you to identify the exact point of price extension.
🔔 Alerts
The script is ready for TradingView Alerts. The alert message is dynamic and will include the exact High price reached during the signal candle.
Disclaimer: This script is for technical analysis purposes only and does not constitute financial advice. Trading involves risk.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.