PROTECTED SOURCE SCRIPT
Simplified Fear & Greed Index (SFGI) by NeW
📌 Overview
This indicator provides a Simplified Fear & Greed Index (SFGI), a general-purpose sentiment tool designed to analyze the psychological state of any single security or asset (including individual stocks, indices, and crypto). While traditional Fear & Greed indices are fixed on the broad market, the SFGI calculates sentiment based on the internal metrics of the specific asset currently viewed. The index ranges from 0 (Extreme Fear) to 100 (Extreme Greed).
📊 Methodology (Internal Factors)
⚠️ Important Note: Combine with Other Analysis
THIS IS A SIMPLIFIED SENTIMENT TOOL. This indicator is intended to be used only as a supplementary tool for market timing and sentiment confirmation. You must combine this index with comprehensive technical analysis (price action, volume, support/resistance) and fundamental research. Do not rely on this index alone for making any trading decisions. Use it to gauge the psychological state of the market for the specific asset you are viewing.
This indicator provides a Simplified Fear & Greed Index (SFGI), a general-purpose sentiment tool designed to analyze the psychological state of any single security or asset (including individual stocks, indices, and crypto). While traditional Fear & Greed indices are fixed on the broad market, the SFGI calculates sentiment based on the internal metrics of the specific asset currently viewed. The index ranges from 0 (Extreme Fear) to 100 (Extreme Greed).
📊 Methodology (Internal Factors)
- The SFGI index is calculated by normalizing and combining several key factors over a rolling period:
- Price Momentum: Deviation from a long-term Simple Moving Average (SMA).
- 52-Week Range Deviation: Current price position within the 52-week high-low range.
- Volatility: Momentum of the Average True Range (ATR) / SMA of ATR.
- A/D Line Momentum: Momentum of the Accumulation/Distribution Line, indicating the quality of buying/selling volume.
- (Optional) Put/Call Ratio (PCR): The input Include Put/Call Ratio Factor allows you to include an external, broad-market factor (like USI:PC or INDEX:CPC) for correlation analysis.
⚠️ Important Note: Combine with Other Analysis
THIS IS A SIMPLIFIED SENTIMENT TOOL. This indicator is intended to be used only as a supplementary tool for market timing and sentiment confirmation. You must combine this index with comprehensive technical analysis (price action, volume, support/resistance) and fundamental research. Do not rely on this index alone for making any trading decisions. Use it to gauge the psychological state of the market for the specific asset you are viewing.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
NeW
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.