This imple script converts your chosen chart price and outputs it as a percentage in relation to the Vix percentage.
If price (Blue line) is higher than 0.60 and vix (Red Line) is lower than 0. 40 then there is lower volatility and this is good for buying. If price (Blue line) is lower than 0. 40 and vix (Red Line) is higher than 0.60 then there is higher volatility and this is good for selling, exiting and cash only.
If you like risk you can enter as soon as the price and vix cross in either direction
This is my first script, please give me a lot of critique, I won't cry hahaha :)
For greater accuracy, you use these Vix products for their specific stocks/Indicies:
I am using it for commodity too and it seems working good too ( coffee, corns etc)
Siziba_Wallace
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@gianfranco60, Nice I'm glad it works :). & I didn't notice there were Vix products for corn and coffee, Thanks for letting me know + I did notice oil and gold correlated in the direction sometimes, that's why I didn't add them to the list.