can you pls elaborate a bit? am beginner and really not following your idea...
samitrading
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@Kabux, LoL, Hey Kabux, we are all here beginners do not let any one here on tradingview fools you otherwise i am just as a beginner as you if you put the
time in you will catch us fast ;-). What you are seeing my friend is Price to Earning Ratios "Golden Crosses" reflected on SPX's chart. ( I have included the
original chart below+ Official meaning from Investopedia). Therefore every time we get a " Golden Cross" 50D MA Crossing above the 200D MA of P/E index
or chart we are usually at a bottom. Perhaps reading both charts "Ideas" together will give you a better idea as i can not put them together i have to do them
separately. So the green line here are "Golden Cross" of P/E and as you can see from the chart every time that's happen we get a Bullish move. The question
will it happen this time or no that's yet to be history.
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(Investopedia)
What Is Price-to-Earnings Ratio – P/E Ratio?
The price-to-earnings ratio (P/E ratio) is the ratio for valuing a company that measures its current share price relative to its per-share earnings (EPS).
The price-to-earnings ratio is also sometimes known as the price multiple or the earnings multiple.
P/E ratios are used by investors and analysts to determine the relative value of a company's shares in an apples-to-apples comparison. It can also be
used to compare a company against its own historical record or to compare aggregate markets against one another or over time.
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