cheatcountry

Fear And Greed Indicator

The Fear And Greed Indicator is a very popular indicator on the Bloomberg platform and since I didn't have actual source code to work with, this is a very close approximation of that indicator. Let me know if you spot any discrepancies with the original and I will do my best to fix them.

For buy and sell signals it is pretty straightforward. Just buy when the green (greed) is in control and sell when the fear (red) is in control

This was a special request so let me know if you want to see more scripts from me or if you want something custom!
Release Notes: updated to make it consistent with my other indicators
Release Notes: fixed an error with the inputs
Release Notes: fixed issue with default resolution
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

Hi, Thank you for providing nice indicator. Can you please let me know how to set trigger when color changes?
+7 Reply
cheatcountry dinumechaguy
@dinumechaguy, When the indicator is above 0 it turns green and when it is below 0 it turns red
+2 Reply
dinumechaguy cheatcountry
@cheatcountry, Thank You for the info
Reply
cheatcountry dinumechaguy
@dinumechaguy, yw let me know if you have any other questions!
Reply
"Be fearful when others are greedy, and greedy when others are fearful" - Warren Buffett
when everyone is scared is when you should consider buying opportunities.
Reply
cheatcountry LewisSteen
@LewisSteen, yep great advice
Reply
Thank you for your codes.
Do green bars mean "Greedy" while red bars mean "Fear" ?
Reply
cheatcountry Bruce-JSH
@Bruce-JSH, yes that is correct
Reply
Bruce-JSH cheatcountry
@cheatcountry, Thank you for the reply.
Reply
hey I wanted to ask for this script that you have have you combined it with the emas? also do you have link to a YouTube video
Reply