Mannarino Market Risk Indicator - MMRI

[ILIKESTOCKS]

Greg has a theory about the market using this following equation: $dxy multiplied by 10 year yield (tnx) divided by 1.6
Anyway to create a label and script from this info? Thanks. Ideas?

 

[henry1224]

declare lower;
input symbol1 = "$dxy";
input symbol2 = "TNX";
def price1 = close(Symbol1);
def price2 = close(Symbol2);
Plot Indicator = (Price1 * Price2)/1.6;
Indicator.SetDefaultColor(Color.yellow);

I don't know what you are trading? or what you are supposed to be looking for?

 

[johnnyjlopez]

declare lower;
input symbol1 = "$dxy";
input symbol2 = "TNX";
def price1 = close(Symbol1);
def price2 = close(Symbol2);
Plot Indicator = (Price1 * Price2)/1.6;
Indicator.SetDefaultColor(Color.yellow);

I don't know what you are trading? or what you are supposed to be looking for?

The idea is to gauge the risk factor in investing from a rating of 50 to 300 based on the equation above. The lower value is rated as "Low Risk" while a value over 300 is suppose to indicate an "Extreme Risk." Something to that effect...

 

[ILIKESTOCKS]

I have no clue if this has any real value thats why I put it out there. Thank you everyone.

 

[ILIKESTOCKS]

declare lower;
input symbol1 = "$dxy";
input symbol2 = "TNX";
def price1 = close(Symbol1);
def price2 = close(Symbol2);
Plot Indicator = (Price1 * Price2)/1.6;
Indicator.SetDefaultColor(Color.yellow);

I don't know what you are trading? or what you are supposed to be looking for?

Thank you. This was something new created by mannarino and He seemed to think this was a good canary in the coal mine for the overall market. Im not sure if it is its only based on one mans opinion as I know, but I could be naive in that assumption so I figured I would put it to the experts in this forum. Thank you for even recognizing the question it is appreciated.

 

[henry1224]

The idea is to gauge the risk factor in investing from a rating of 50 to 300 based on the equation above. The lower value is rated as "Low Risk" while a value over 300 is suppose to indicate an "Extreme Risk." Something to that effect...

I can't compare how this reacts when comparing a highly volatile stock IE: Tsla ,MRNA, asml vs a steady eddie such as IBM, XOM and such.
I feel that if you add a moving average to the indicator that will help

 

[Mr. Green]

Hello folks, I'm new to trying any programming in Thinkscript. So I actually found this code here and modded it so that it would reflect the proper equation and I got it to show up as a number above the chart. Essentially the script takes the value of the USD and compares it to the 10year yield, then spits out a number based on a divider of 1.61 - So: (DXY) x (TNX)/1.61 = Result.

I've got it to display but was wondering if anyone could tell me how to add a few elements.
1. I'd like to add a label before the number - MMRI:
2. The box under the number presented is currently red. I'd like to have the box change color based on the numeric result of the calculation as follows:

50-100 = Green
101-200 = Yellow
201-300 = Orange
301+ = Red

Here is the code as I have it thus far:
declare lower; input symbol1 = "$dxy"; input symbol2 = "TNX"; def price1 = close(Symbol1); def price2 = close(Symbol2); AddLabel(yes, AsText((Price1 * (Price2/10))/1.6, NumberFormat.TWO_DECIMAL_PLACES));

 

[Svanoy]

Mannarino Market Risk Indicator - MMRI For ThinkOrSwim
https://usethinkscript.com/threads/mannarino-market-risk-indicator-mmri-for-thinkorswim.11491/

mod note: this thread is locked. Discussion is continued at the above link.