This script calculates "Global Net Liquidity" using various financial data sources, and integrates Rate of Change (RoC) visualization alongside an Equity Hull Moving Average (HMA) plot. It also features an additional "Global Liquidity" metric that is subsequently scaled and plotted.
First, several financial indicators are requested and combined to form the "Global Net Liquidity Indicator." A Rate of Change (RoC) is then calculated, and this RoC, alongside the Equity Hull Moving Average (HMA), is plotted. Next, a "Global Liquidity" measure is formed by combining various financial data.
In summary, this script involves achieving a comprehensive visualization of liquidity-related indicators and measures, providing an inclusive outlook into the nature of global liquidity trends.
The main plot is the 3 liquidity metrics averaged together and normalized then scaled between -1 and 1 for TPI scoring.
You can customize the weighting for each metric, as well as the lookback period for all 3 metrics.
-1 = Negative Trend 1 = Positive Trend
Yellow = Global Net Liquidity Blue = RoC Red = Equity HMA
This is insight into global liquidity, and not to be taken in anyway as trading signals. This is an analysis tool to be combined with further research.
Phát hành các Ghi chú
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Converted the AVG plot into a histogram. Added customizable thresholds for Positive and Negative detection levels. Added a gradient background fill to visualize overall global net liquidity trend.
Thank you for sharing your indicator. While it is an interesting take on the underused global net liquidity indicator, it is expected courtesy to mention the original author Dharmatech, who made the first global net liquidity indicator to my knowledge, and which code was obviously used here to build upon (same LOCs and vars names): tradingview.com/script/hky2sJKD-Global-Net-Liquidity/
RWCS_LTD
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@tartigradia, thank you for pointing this out. I appreciate the shoutout to the original owner. I apologize for the lack of credit in this script.
The majority of my scripts are posted private for personal use. This public publish I had missed giving credit. It is important to recognize the original authors who have paved the way.
tartigradia
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@RWCS_LTD, Awesome, I understand, it happens to forget and there is only a 10 min window to edit... But note that crediting the original author(s) is necessary for all scripts, not just public ones, the public can't check on protected/private ones but mods can. Thank you once again for sharing your awesome work!