VIX Levels V1.0

Dec 12, 2019

This script uses the VIX spike method timwest found, it can be applied to any equity (in the daily timeframe) that fall with VIX spikes.
(see

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What the script essentially does is looking for a VIX spike higher than certain points - and the following retracement to a certain % level. Then it draws the midline between the lowest price during the spike and the price at the retracement as a hidden market level. The thickness of the line is adjusted to the size of the VIX spike.

In the settings you can adjust:
- the length of the line
- if there should be labels to label the characteristic bars for the VIX spike (minimum, confirmation, maximum and retracement)
- if there should be triangles at the chart to show the lowest and highest price during the spike
- if there should be sidelines at the lowest and highest price
- the length of these sidelines

Dec 19, 2019

Release Notes

I upgraded the script:
- If there is no dip in the equity while VIX spikes (and instead the lowest price bar is at the bar of the VIX retracement), the level line now is DASHED - it's maybe not a real VIX retracement level...
- You can now choose between different line colors.
- You can now set a "minimum line size" for better visibility