Mannarino Market Risk Indicator - MMRI

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ILIKESTOCKS

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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?

Code:
``````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?

Code:
``````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...

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

Code:
``````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.

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

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)); ```

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