>>20654499>>20654193I don't think it really matters what symbol you use, when you consider the VIX itself as an indicator. In this chart, I used 382 and 618 fib levels on a 10-30 range on VIX to generate the colors, using the daily high of the VIX. If the current value is below the 3 day sma, the bar is drawn darker.
So basically, if it goes from blue through the other colors over the course of say, a week or two, you can probably do some kind of ratio trade here. You don't want to execute on a random big red spike. Problem is, this only ever presented itself in 2008 and 2020 ... even other crashes only hit as high as orange (of course, levels can be adjusted). It's very infrequent at best.
In the upper charts I used the mint ratio (gold/silver) relative to copper, but I'm sure other indexes went up or down accordingly, just according to VIX.
