OPEN-SOURCE SCRIPT
ISM Manufacturing PMI
Description
The ISM Manufacturing PMI (Purchasing Managers' Index) is a key economic indicator derived from monthly surveys of private sector companies. It provides insight into the health of the US manufacturing sector.
Above 50.0: Indicates Expansion.
Below 50.0: Indicates Contraction.
This script visualizes the ISM Manufacturing PMI using TradingView's available economic data (ECONOMICS:USBCOI), providing traders and analysts with a clear view of macroeconomic trends directly on their charts.
Key Features
Intuitive Visualization:
Dynamic Color Coding: The line turns Green during expansion (>50) and Red during contraction (<50).
Baseline Fill: Optional shading between the data line and the 50.0 baseline emphasizes the current economic state.
Histogram Mode: Toggle a histogram view to easily spot momentum shifts.
Customizable Data Source: Defaults to ECONOMICS:USBCOI but can be configured to use other tickers (e.g., FRED:NAPM) if preferred.
Smoothing: Built-in SMA, EMA, RMA, or WMA smoothing to filter out noise and see the longer-term trend.
Alerts: Set alerts for significant crossovers (Expansion/Contraction start) or extreme levels.
How to Use
Add to Chart: Apply the indicator to any chart. It works best on higher timeframes but pulls monthly data automatically.
Interpret the Trend:
Look for the line crossing the 50.0 level. A cross above suggests the manufacturing sector is growing (Bullish for economy). A cross below suggests slowing down or contraction (Bearish for economy).
Watch for extreme readings (above 60 or below 40) which often mark economic peaks or troughs.
Adjust Settings:
Style: Toggle the Line, Histogram, or Fill visibility in the settings.
Smoothing: If the raw data is too jagged, increase the "Smoothing Length" to 3 or 6 months.
Settings
PMI Ticker: Default is ECONOMICS:USBCOI.
Timeframe: Default is 1M (Monthly).
Show Line / Histogram: Toggle visualization modes.
Smoothing: Type and Length of the moving average applied to the data.
Colors: Customize the colors for Expansion (Grow), Contraction (Fall), and Neutral.
Indicator by: iCD_creator
Version: 1.0
---
Updates & Support
For questions, suggestions, or bug reports, please comment below or message the author.
**Like this indicator? Leave a 👍 and share your feedback!**
The ISM Manufacturing PMI (Purchasing Managers' Index) is a key economic indicator derived from monthly surveys of private sector companies. It provides insight into the health of the US manufacturing sector.
Above 50.0: Indicates Expansion.
Below 50.0: Indicates Contraction.
This script visualizes the ISM Manufacturing PMI using TradingView's available economic data (ECONOMICS:USBCOI), providing traders and analysts with a clear view of macroeconomic trends directly on their charts.
Key Features
Intuitive Visualization:
Dynamic Color Coding: The line turns Green during expansion (>50) and Red during contraction (<50).
Baseline Fill: Optional shading between the data line and the 50.0 baseline emphasizes the current economic state.
Histogram Mode: Toggle a histogram view to easily spot momentum shifts.
Customizable Data Source: Defaults to ECONOMICS:USBCOI but can be configured to use other tickers (e.g., FRED:NAPM) if preferred.
Smoothing: Built-in SMA, EMA, RMA, or WMA smoothing to filter out noise and see the longer-term trend.
Alerts: Set alerts for significant crossovers (Expansion/Contraction start) or extreme levels.
How to Use
Add to Chart: Apply the indicator to any chart. It works best on higher timeframes but pulls monthly data automatically.
Interpret the Trend:
Look for the line crossing the 50.0 level. A cross above suggests the manufacturing sector is growing (Bullish for economy). A cross below suggests slowing down or contraction (Bearish for economy).
Watch for extreme readings (above 60 or below 40) which often mark economic peaks or troughs.
Adjust Settings:
Style: Toggle the Line, Histogram, or Fill visibility in the settings.
Smoothing: If the raw data is too jagged, increase the "Smoothing Length" to 3 or 6 months.
Settings
PMI Ticker: Default is ECONOMICS:USBCOI.
Timeframe: Default is 1M (Monthly).
Show Line / Histogram: Toggle visualization modes.
Smoothing: Type and Length of the moving average applied to the data.
Colors: Customize the colors for Expansion (Grow), Contraction (Fall), and Neutral.
Indicator by: iCD_creator
Version: 1.0
---
Updates & Support
For questions, suggestions, or bug reports, please comment below or message the author.
**Like this indicator? Leave a 👍 and share your feedback!**
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.
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.