I was tired of not having something to compare the real economic strength of a country (US only for now...) to it's companies valuations. So I made my own! Trading view does not have the wilshire indice, but it has the Rus 3000, good enough, & the US GDP since 1946 so this is what I am using. Warren Buffet is famous for liking this so now the idea has its name. Let's call it the Buffet indicator (I doubt the only one that had the idea).
This indicator can be used on any indice thought, even on specific stocks.
You can even use it as a filter with an alarm (ofc not to be used on its own but patient people can really go far if they ONLY invest when the ratio is at the bottom, just as long as it is in the right companies):
One could invest in the middle of the highest green area (waiting for it to go too low = risk missing out), and add more when it goes to the second green area, for example. You sort it out.
Enjoy! See you on Mars luxury station in 25 years (the one I will build).
Has anyone tried this on ftse share, is it possible ?
amirjangjoo
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@scottyd12, @MrRenev I am trying to add to my chart but keep getting an unsupported resolution message. Any ideas what to try?
Many thanks
MrRenev
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@scottyd12, Why would you try adding it to a timeframe below daily?
Needs daily min, and it would work on uk shares or the indice, it would compare them to the USA gdp.
The GDP value is updated once a quarter. Technically I think I can make it work on a lower TF. It would look exactly like the chart on a 3 month period.
amirjangjoo
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@MrRenev, many thanks. Day timeframe is perfect. shorter is not needed. It's now working, (thank you). The values column is showing as 0 if I change it to % it displays but I want to try and achieve the same values as shown above. How do I do this?
Thanks for all your help
SGPCHU
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Thanks for the wonderful script. Just notice the RHS axis is not showing the scale.
TeunisDokter
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I also like to try make this chart my own, how did you manage?
drakey2121
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Hey @MrRenev! y-axis values do not change. Mine are all at 0.02 and they do not change has the indicator goes up or down. Anyway to update this so reflect what is in the preview pictures? thanks!
RESEPCUAN_ID
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Any idea how to change GDP source data to country based GDP data?