Created a version of Buffet Indicator for TradingView. He calls it "the best single measure of where valuations stand at any given moment". Computations are very simple, it is simply the ratio between total stock market capitalization and US GDP. I used the S&P 500 capitalization instead of the total so value here might be a bit lower than in the original indicator. Very high values might mean that we're now in a bubble and correction might follow shortly.
Great job! Why not combine the Wilshire W4500 and the S&P500? Should be equivalent to W5000, hence closer to Buffet's version.
p1r473
⋅
@forsandree, Agreed, (W4500+SPX)/GDP
p1r473
⋅
Can we have the code please?
Thanks!
seong1
⋅
may i have the code please?
dotcom880
⋅
Just wanted to thank you for this. Very relevant in the upcoming months ahead.
istek7
⋅
Hı unsported resolution error
QuantNomad
⋅
@istek7, Apply it only on Daily and Higher timeframes
pareshbhangale
⋅
can this be used on any other indices other than S&P 500 or it need to be used only on S&P 500?
QuantNomad
⋅
@pareshbhangale, It's hardcoded for the S&P 500, I don't think I can get needed data to compute similar indicator for other indices inside TradingView.