US Recessions with SPX reversals v3 [FornaxTV]

8 apr

In addition to highlighting periods of official US recessions (as defined by the NBER) this script also displays vertical lines for the SPX market top and bottom associated with each recession.

This facilitates more detailed analysis of potential leading and coincident indicators for market tops and bottoms. This is particularly relevant for market tops, which typically precede the start of a recession by several months.

In addition to recessions with SPX market tops and market bottoms:

- A horizontal line can optionally be displayed for the last market top. (NOTE: this line will only be displayed for SPX tickers.)

- Labels can optionally be displayed for market tops & bottoms, plus the start and end of recessions. If the statistics are enabled (see below) these labels will also indicate the number of weeks between key market events, e.g. a market top and the start of a recession.

- A statistics table can optionally be displayed, contained statistics such as the number of weeks wince the last recession & market bottom, as well as averages for all recessions included in the analysis set.

For the recession statistics:

- "Outlier" recessions such as 1945 (WWII, where the market top occurred well after the recession itself) and 2020 (COVID pandemic, which was arguably not a "true" economic recession) can optionally be excluded.

- You can choose to exclude recessions occurring before a specific year.

11 apr

Note di rilascio

Fixed issue with "Last SPX Top" label display