This is the 3-month Libor minus effective federal funds rate . Traders watch certain spreads for a wider spread to indicate a bad economy.

This is a conceptual indicator that tries to make sense of how important a FRA-OIS spread can be, in this case the Libor-EFFR. It may be completely wrong in calculation and understanding :)

Libor was derived from the TED Spread less 3-month treasury bills due to Quandl missing updated Libor data.

For the OIS , EFFR is used because it has long historical data and is one of (maybe) the rates used for spread. SOFR was not available at the time but it appears that is what is more common nowadays.

A possible derivative of this indicator would be taking Libor and putting it against something else.

My published indicators:

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con lo establecido en las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?