Weighted RiskONess

Revision of tedtalksmacro's risk-on metric. Number go up means global markets are more risk-on; number go down means more risk-off. Weights now allow you to adjust the weights of various elements of the indicator. These are exponentials with the weight being the power / 10.

I.e. setting gold's weight to 10 takes it's value ^ (10 / 10). Setting it to 5 would square root it (^5/10 = ^1/2) while 20 would square it (^20/10 = ^2).

A green line means "riskONess" has gone up in the last day, red means down.

Resolution minimum for the indicator is 1D due to TradingView's limitations.

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Uncapped weights. Negative weights will effectively let you treat them as inverse elements (GOLD is risk-off, but a -10 weight would treat it as risk on).

Also option for EMA.

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V3 allows you to select up to 8 elements and designate any of them as risk-on or risk-off indicators.

Weights similar, though no negative values (just turn it risk-on or risk-off)

EMA available, defaults to OFF.

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Added 2 factor slots for up to 10 factors.

Also changed line color to gray if no change in indicator value.

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Updated it to allow users to select the timeframe they want rather than fixing it at 1D.

Note: at timeframes lower than 1D, this sometimes causes the script to hang, never load, or throw an error. Haven't been able to isolate why.

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Last edit was a bit hasty, forgot to uncomment some code.

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Last of update spam.
Added deviations: triangles are bullish/bearish deviations, arrows hidden bullish/bearish.

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Fixed error.
Lower timeframes sometimes don't work. If so, try removing and re-adding securities individually. Looking into the what and why it's doing this.

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♦Improved UI for settings menu
♦Fixed VIX - formerly was making lower timeframes hang if used

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Typo + had RiskOn/Off switched after UI update.

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Updated to 10 default risk indicators (5 on, 5 off).
Updated RiskON ribbon for better look.

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♦now allows 12 factors
♦can select whether your asset is risk on or off
♦now shows deviations between the selected asset and risk-on or risk-offness. If riskON is up and the asset is down the deviation is denoted with a "+". If RiskON is down and the asset is up, it's denoted with a "-".
♦cleaned up inputs into groups. MUCH cleaner and easier to navigate now
♦ditched old deviations as they generally registered too slowly to be actionable.

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Added bullish/bearish divergences.

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Fixed bug

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Fixed issue with candles being wrong color.

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Updated default 10 elements to extend before 2018.

Added ability to toggle between candle color being based on close > prev. close (default) or close vs open (enable "Delta Close Color")

Also added a current-value line.

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Better chart preview

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Better chart

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.

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Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.

Script de código abierto

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