OPEN-SOURCE SCRIPT
Fear & Greed Index
The Fear & Greed Index is a synthetic market sentiment indicator designed to convert multiple technical signals into a single 0–100 score.
Its purpose is to quickly identify market phases of fear, neutrality, or greed across any asset or index.
This indicator does not rely on an official VIX.
Instead, it uses synthetic realized volatility, combined with trend and momentum metrics, to provide a visual reading of market sentiment and regime conditions.
Methodology
The score is built from several components:
Realized volatility
used as a market stress proxy: higher volatility pushes the index toward fear.
Momentum
captures recent price acceleration or deterioration.
RSI
evaluates market strength and overbought / oversold conditions.
Trend vs moving average
compares current price to its moving average to assess directional bias.
Drawdown
measures the distance from recent highs to identify stress, correction, or recovery phases.
Score interpretation
The final score is normalized between 0 and 100:
0 – 20 → Extreme Fear
20 – 40 → Fear
40 – 60 → Neutral
60 – 80 → Greed
80 – 100 → Extreme Greed
How to use it
Low readings usually reflect stressed, volatile, or corrective market conditions.
High readings usually reflect confident, bullish, or potentially overheated market conditions.
The indicator is best used as a market regime / sentiment filter, not as a standalone buy or sell signal.
Disclaimer
This script is a synthetic sentiment indicator based on price and volume data.
It is not an official volatility index and should not be considered investment advice.
Its purpose is to quickly identify market phases of fear, neutrality, or greed across any asset or index.
This indicator does not rely on an official VIX.
Instead, it uses synthetic realized volatility, combined with trend and momentum metrics, to provide a visual reading of market sentiment and regime conditions.
Methodology
The score is built from several components:
Realized volatility
used as a market stress proxy: higher volatility pushes the index toward fear.
Momentum
captures recent price acceleration or deterioration.
RSI
evaluates market strength and overbought / oversold conditions.
Trend vs moving average
compares current price to its moving average to assess directional bias.
Drawdown
measures the distance from recent highs to identify stress, correction, or recovery phases.
Score interpretation
The final score is normalized between 0 and 100:
0 – 20 → Extreme Fear
20 – 40 → Fear
40 – 60 → Neutral
60 – 80 → Greed
80 – 100 → Extreme Greed
How to use it
Low readings usually reflect stressed, volatile, or corrective market conditions.
High readings usually reflect confident, bullish, or potentially overheated market conditions.
The indicator is best used as a market regime / sentiment filter, not as a standalone buy or sell signal.
Disclaimer
This script is a synthetic sentiment indicator based on price and volume data.
It is not an official volatility index and should not be considered investment advice.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。