Scripts: Fear And Greed Function
Thanks it's an excellent idea... but the fear and greed index displayed for all my icons are fixed numbers!!! Greed for all my symbols is 0.00961 and fear is a constant number of -0.99039.
Thanks it's an excellent idea... but the fear and greed index displayed for all my icons are fixed numbers!!! Greed for all my symbols is 0.00961 and fear is a constant number of -0.99039.
Hello mohar1995.
Indeed, there is a lot of different information on the Internet regarding it, many websites publish an index of fear and greed, - but there is a different method and way of calculating these indicators, which in most cases is based on the opinion or trading results of the majority of traders.
In this version, these values are not used for each financial instrument separately or it does not take into account the results of the trading activities or the opinions of all or most of the bidders.
This should be used as a result of your own trading activity on your trading account regardless of the financial instrument being traded.
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Fear And Greed Function:
It is known that the market is mainly driven by two emotions: fear and greed. This should be seen as an attempt to implement these emotions in the form of a mathematical model.
Author: Igor Gerasimov