This indicator aims to present a "Net Liquidity" indicator comprised of the Fed Balance sheet , less the TGA account and Overnight Reverse REPO agreements.
This is an overlay that can be added to stock or other charts (like SPY ) to see how the market may appear correlated to Net Liquidity - injection of liquidity into the markets.
This was hypothesized by Max Anderson, this is just a script realizing that posting.
New updates include a resolution feature, and an option to offset backwards by 2 days per original intent.
リリースノート
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I have updated the script to fix the units that got changed from the FRED website and imported into TV.
I have also updated the script to display the correct units when selecting trillions, billions, and millions.
リリースノート
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I updated the liquidity indicator to show the Fed Net Liquidity as a line as opposed to a histogram, this fixes the issue with having to scale the background. Should work MUCH better now!!
Love the indicator but I'm don't see how I can lock it to match the chart. I have to manually move and scale it every time I click a new trading pair or if I move the chart. I have tried with AUTO off. I would like to set a scale and then keep it so I can move both A and B together and click another symbol pair and not lose the scaling. Anyone managed to make that work?
jlb05013
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@piranha66, hey Piranha, this is now fixed in the new version - can you check if it works for you? It should be so easy now that you don't need to make ANY adjustments, as long as the underlying symbol (SPX, ES!, etc) and the indicator have their scales set to AUTO.
intell10n
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why is liquidity showing negative for me?
alis87
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@intell10n, the units (whether they are in millions or billions) have changed on the underlying securities, so this indicator needs fixing.
jlb05013
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@intell10n, hi! this is now fixed, it was due to a change in the import data from TV - let me know if it works for you :)
connorbinko08
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@jlb05013 are you still using this indicator? How do you 'offset it by 2 days' like it mentions in the notes?
alis87
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Hi, nice work, but I think the units on the three securities (WALCL, WTREGEN, RRPONTSYD) have been aligned so you no longer need to standardise them to the same units. Just remove the *1e3 and it works great!
jlb05013
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@alis87, thanks a lot for the heads up! can you check if it works for you now? I have fixed it but could use another pair of eyes :)