OPEN-SOURCE SCRIPT
Aktualisiert F&G_Index

Introduction.
This indicator shows the behavior of Fear and Greed Index (F&G_Index) for the cryptocurrency market in an intuitive way for traders. This indicator has been modified from a script developed by cptpat called "Fear and Greed Index FGI (Daily Update) alternative.me" (Tradingview user). The Fear and Greed Index values are taken directly from alternative.me.
The novelty of this proposal is to indicate the extreme levels (lower/upper) of the Fear and Greed Index according to a statistical analysis of the historical data. Also its daily update. It is not recommended to use in isolation. The appropriate way is in consensus with other indicators.
The extreme values.
Two upper and lower limits are established that correspond to the first standard deviation (1·SD) and 1.5 standard deviation (1.5·SD), respectively. These limits will help to know different important levels of greed or fear in the market based on real and historical data. The values obtained for each case are shown below, which will mark the extremes. These values may be modified in the future. If so, they will be updated and the community will be informed.
1·SD higher = 69 (F&G_Index).
1·SD lower = 24 (F&G_Index).
1.5·SD higher = 81 (F&G_Index).
1.5·SD lower = 12 (F&G_Index).
These limits are statistically significant and representative of extreme values of the Fear and Greed Index. Above all, for the case of 1.5·SD higher/lower, whose occurrence of the cases are significantly lower. These data are obtained for a daily record from August 2017 to December 2021, for a total of 1407 data. The occurrence of the Fear and Greed Index value exceeding the indicated levels is shown below.
F&G_Index > 1·SD higher (Greed). Occurrence <22,5%
F&G_Index < 1·SD lower (Fear). Occurrence <19%
1·SD lower < F&G_Index < 1·SD higher (Neutral). Occurrence ≈59%
F&G_Index > 1.5·SD higher (Extreme Greed). Occurrence <8%
F&G_Index < 1.5·SD lower (Extreme Fear). Occurrence <3%
How to use the indicator.
Its use is very simple and intuitive and is based on the levels indicated above. The blue line shows the historical value of F&G_Index. When the value of F&G_Index exceeds the levels indicated above, a vertical band of color will be tinted (brown/red, green/lime green or gray with transparency) as indicated below. This allows you to locate important areas in a very visual way.
F&G_Index > 1·SD higher (Greed). Brown color
F&G_Index < 1·SD lower (Fear). Green color.
1·SD lower < F&G_Index < 1·SD higher (Neutral). Gray color with transparency.
F&G_Index > 1.5·SD higher (Extreme Greed). Red color.
F&G_Index < 1.5·SD lower (Extreme Fear). Lime green color.
Image of the indicator.

This indicator shows the behavior of Fear and Greed Index (F&G_Index) for the cryptocurrency market in an intuitive way for traders. This indicator has been modified from a script developed by cptpat called "Fear and Greed Index FGI (Daily Update) alternative.me" (Tradingview user). The Fear and Greed Index values are taken directly from alternative.me.
The novelty of this proposal is to indicate the extreme levels (lower/upper) of the Fear and Greed Index according to a statistical analysis of the historical data. Also its daily update. It is not recommended to use in isolation. The appropriate way is in consensus with other indicators.
The extreme values.
Two upper and lower limits are established that correspond to the first standard deviation (1·SD) and 1.5 standard deviation (1.5·SD), respectively. These limits will help to know different important levels of greed or fear in the market based on real and historical data. The values obtained for each case are shown below, which will mark the extremes. These values may be modified in the future. If so, they will be updated and the community will be informed.
1·SD higher = 69 (F&G_Index).
1·SD lower = 24 (F&G_Index).
1.5·SD higher = 81 (F&G_Index).
1.5·SD lower = 12 (F&G_Index).
These limits are statistically significant and representative of extreme values of the Fear and Greed Index. Above all, for the case of 1.5·SD higher/lower, whose occurrence of the cases are significantly lower. These data are obtained for a daily record from August 2017 to December 2021, for a total of 1407 data. The occurrence of the Fear and Greed Index value exceeding the indicated levels is shown below.
F&G_Index > 1·SD higher (Greed). Occurrence <22,5%
F&G_Index < 1·SD lower (Fear). Occurrence <19%
1·SD lower < F&G_Index < 1·SD higher (Neutral). Occurrence ≈59%
F&G_Index > 1.5·SD higher (Extreme Greed). Occurrence <8%
F&G_Index < 1.5·SD lower (Extreme Fear). Occurrence <3%
How to use the indicator.
Its use is very simple and intuitive and is based on the levels indicated above. The blue line shows the historical value of F&G_Index. When the value of F&G_Index exceeds the levels indicated above, a vertical band of color will be tinted (brown/red, green/lime green or gray with transparency) as indicated below. This allows you to locate important areas in a very visual way.
F&G_Index > 1·SD higher (Greed). Brown color
F&G_Index < 1·SD lower (Fear). Green color.
1·SD lower < F&G_Index < 1·SD higher (Neutral). Gray color with transparency.
F&G_Index > 1.5·SD higher (Extreme Greed). Red color.
F&G_Index < 1.5·SD lower (Extreme Fear). Lime green color.
Image of the indicator.
Versionshinweise
Update latest value = 29 ; 2021-12-19Versionshinweise
Update latest value = 29 ; 2021-12-19 Versionshinweise
Update latest value = 25 ; 2021-12-20Versionshinweise
Update latest value = 25 ; 2021-12-20Versionshinweise
Update latest value = 25 ; 2021-12-20Versionshinweise
Update latest value = 25 ; 2021-12-20 Versionshinweise
Update latest value = 25 ; 2021-12-20Versionshinweise
Update latest value = 27 ; 2021-12-21Versionshinweise
Update latest value = 45 ; 2021-12-22Versionshinweise
Update latest value = 34 ; 2021-12-23Versionshinweise
Update latest value = 41 ; 2021-12-24Versionshinweise
Update latest value = 39; 2021-12-25Versionshinweise
Update latest value = 37 ; 2021-12-26Versionshinweise
Update latest value = 40 ; 2021-12-27Versionshinweise
Update latest value = 41 ; 2021-12-28Versionshinweise
Update latest value = 27 ; 2021-12-29Versionshinweise
Update latest value = 22 ; 2021-12-30Versionshinweise
Update latest value = 28 ; 2021-12-31 Versionshinweise
Update latest value = 21 ; 2022-01-01Versionshinweise
Update latest value = 21 ; 2022-01-01Versionshinweise
Update latest value = 23 ; 2022-01-04Versionshinweise
Update latest value = 24 ; 2022-01-05 Versionshinweise
Update latest value = 15 ; 2022-01-06Versionshinweise
Update latest value = 18 ; 2022-01-07Versionshinweise
Update latest value = 10 ; 2022-01-08Versionshinweise
Update latest value = 23 ; 2022-01-09Versionshinweise
Update latest value = 23 ; 2022-01-10Versionshinweise
Update latest value = 21 ; 2022-01-11Versionshinweise
Update latest value = 22 ; 2022-01-12Versionshinweise
Update latest value = 23 ; 2022-01-15Versionshinweise
Update latest value = 24 ; 2022-01-20Versionshinweise
Update latest value = 11 ; 2022-01-23Versionshinweise
Update latest value = 24 ; 2022-01-29Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.