UVXY Contango Rate - my quick and dirty indicator

Feel the force ... read the source.

Give you an idea of the contango headwind / backwardation tailwind that UVXY is experiencing.

Works on Daily time frame only unless you buy the VIX feed.
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study("UVXY Contango Rate")
VIX = security("VIX", "D", close)
UVXY = security("UVXY", "D", close)

contangoRatio = UVXY/VIX
contangoRate = 1-(contangoRatio[1]- contangoRatio[0])
fastemaCR = ema(contangoRate,7)
slowemaCR = ema(contangoRate,27)

h0 = hline(1, color=white)

plot(contangoRate, color=gray)
plot(fastemaCR, color=white)
plot(slowemaCR, color=black)
bgcolor(slowemaCR > .996 ? red : blue, 60 ) do you use it?
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