VixChecker VIX Fear Index Three Colors MT4
- Indicators
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Naoto Shimoda
FX.Hamrat - MetaTrader 4/5 indicator and Expert Advisor developer based in Japan.
Over 10 years of trading experience (discretionary and systematic), and 90+ MT4/MT5 programs built so far - including 30+ custom-made projects for individual traders. - Version: 2.2
- Activations: 10
See the market's fear level on the chart you trade.
VixChecker shows the VIX (the volatility index often called the fear index) in a sub-window as one bar per day, colored by level: normal (blue), caution (yellow, 20 or above by default) and fear (red, 30 or above). The current value, the change from the previous close and the time of the value are shown in a small panel, and the value can also be shown on the main chart.
Where the VIX values come from (please read before buying)
- The indicator does not access the internet. It reads your broker's VIX symbol from Market Watch. It searches automatically for a symbol whose name contains "VIX" (for example VIX, VIX.f, #VIX, VIX-OCT26). You can also enter the symbol name yourself.
- Many brokers offer VIX as a CFD based on VIX futures. Its value can differ from the Cboe VIX index (spot) by a few points. If your broker has a futures-based symbol with an expiry, the indicator moves to the next contract after the expiry.
- No VIX symbol at your broker? Download Cboe's daily VIX history (VIX_History.csv, on Cboe's VIX historical data page) and place it in File > Open Data Folder > MQL5\Files (MQL4\Files on MT4). The indicator then shows the history up to the last day in the file (not live, no alerts).
- A futures contract has only a few months of history. If you also place VIX_History.csv, the earlier days are filled in from the file, so you can see the history since 1990.
- To check before buying: open Market Watch, press Ctrl+U (Symbols) and search for "VIX".
Features
- Three colors by level: normal, caution, fear. Both levels can be changed.
- Daily bars in a sub-window on any timeframe. On timeframes below D1 one bar is left empty between days (0 to 3 bars).
- The scale keeps the fear level visible even when VIX has been low for a long time.
- Panel: current value in the level color, level name, change from the previous close, previous close, symbol and server time.
- Text on the main chart: "VIX-Fear index[ value ]". It blinks above the caution level (can be turned off).
- Alerts, e-mail and push notifications when VIX crosses the caution or fear level upward. Nothing is sent right after you add the indicator, and the same notice is not repeated for 30 minutes.
- For EAs: the VIX value of each bar is in buffer 3 (the fourth buffer), readable with iCustom.
- Display scaling: the panel fits at 125% and 150% Windows scaling.
Inputs (main)
- VIX symbol name (empty = find automatically)
- Caution level (default 20) and fear level (default 30)
- How to notify for each level: none, alert, e-mail, push and combinations
- Text on the main chart: on/off, blink, position, font size and colors
- Panel font size, gap between days, bar colors
In the Strategy Tester (the free demo)
The indicator reads the VIX symbol of the broker the tester uses. If that broker has no VIX symbol, the panel shows "No VIX symbol" and no bars are drawn. This is expected; on your own terminal it uses your broker's symbol or your CSV file.
This indicator displays the VIX. It does not trade, does not give investment advice and does not promise any results. The values depend on your broker's VIX symbol or on the file you place.
