Guerilla Fear/Greed Index Strategy

This strategy combines NAAIM Exposure Index and the Equity Put/Call Ratio into Fear/Greed Index that oscillates between 0 and 100.

It smooths all of these values and enters a trade when Fear reaches a certain threshold and exits when Greed reaches a certain threshold.

I don't really know if this is a great indicator or not, but the results on various indexes are pretty good, especially NASDAQ:TQQQ .

Was inspired by the knowledge gained following RolandoSantos.
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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