MBODDS GLOBAL - Enhanced (TR)

This indicator compares the TLREF (Turkish Lira Overnight Reference Rate) with the 1-Year Government Bond Yield (tahvil_1y) to calculate the spread (ODDS). The spread reflects the difference between these two interest rates. A higher spread could indicate higher perceived risk or inflation, while a lower spread might signal a more stable economic environment.

Key Components:
ODDS (Spread):

The spread is calculated by subtracting the 1-Year Bond Yield from the TLREF.

A higher spread typically reflects higher market risk, while a lower spread could indicate stability.

SMA (Simple Moving Average):

A 21-day SMA is plotted to show the short-term trend of the spread, helping to identify its general direction.

Z-Score:

The Z-Score measures how far the current spread is from its 100-day moving average, in terms of standard deviations. A high or low Z-Score can indicate that the spread is significantly different from its historical average, signaling a potential trend reversal.

Thresholds:

Upper and lower thresholds are set to alert when the spread exceeds certain levels, signaling potential buying or selling opportunities.

Alerts:

Alerts are triggered when the spread exceeds the predefined upper or lower thresholds, allowing for real-time notifications of significant market movements.

Visuals:

The indicator uses color-coded plots and background shading to highlight when the spread is in an extreme range, making it easier to visually identify key levels.

In summary, this indicator helps traders and investors monitor the difference between short-term interest rates and long-term bond yields in Turkey, offering potential insights into market risk and economic conditions.