SPX and Federal Net Liquidity difference

Script for applying Federal Net Liquidity to the SPX post-2020 monetary policy. Original indicator from jlb05013 with adjustments to make it more readable and usable. When the indicator is above 250 the SPX is overbought and when it's below -250 the SPX is oversold.

It's not perfect, I'm just publishing because I didn't see it already out there.

Notes de version

TradingView was bringing in the variables with different units. Fixed that and removed unnecessary code.

Notes de version

Reconnected FRED dataset for Federal Balance Sheet. The quandl dataset was not working anymore.

Indicator now clearly shows either a) a strong over-valuation in the market or b) the indicator no longer applies

Notes de version

Updated to plot SPX within the chart so it is a complete chart regardless of which symbol you have on the main pane.

Notes de version

Changed chart in published version

Script open-source

Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.

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Script open-source

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