OPEN-SOURCE SCRIPT
Updated WRESBAL Plus
WRESBAL Plus is an improved way of looking at the same data that drives WRESBAL, which is a commonly used series on FRED.
WRESBAL is a weekly average of combined balances on FRED using inputs that are weekly averages in some cases. For example the Treasury General Account has multiple FRED series including WDTGAL (wednesday level) and WTREGEN (wednesday weekly average) There are data sets that are tracking the same metrics which are updated daily such as RRPONTSYD as opposed to WLRRAL.
This situation leads to an opportunity to create a new and improved WRESBAL with the data that is updated more frequently. WRESBAL Plus solves the problem of waiting for weekly averages to update trends.
WRESBAL plus combines data sets from FRED that are updated more frequently and are the basis for the original WRESBAL equation. WRESBAL Plus offers a signal that predicts where WRESBAL will go, and this is important when determining the direction of asset prices as they relate to liquidity. One example of an asset that closely follows WRESBAL is Bitcoin.
WRESBAL is a weekly average of combined balances on FRED using inputs that are weekly averages in some cases. For example the Treasury General Account has multiple FRED series including WDTGAL (wednesday level) and WTREGEN (wednesday weekly average) There are data sets that are tracking the same metrics which are updated daily such as RRPONTSYD as opposed to WLRRAL.
This situation leads to an opportunity to create a new and improved WRESBAL with the data that is updated more frequently. WRESBAL Plus solves the problem of waiting for weekly averages to update trends.
WRESBAL plus combines data sets from FRED that are updated more frequently and are the basis for the original WRESBAL equation. WRESBAL Plus offers a signal that predicts where WRESBAL will go, and this is important when determining the direction of asset prices as they relate to liquidity. One example of an asset that closely follows WRESBAL is Bitcoin.
Release Notes
Added Treasury Contribution to Credit Facilities (H41RESH4ENWW) to liabilitiesRelease Notes
Change to update chart.Release Notes
Add ability to chart the original WRESBAL signal for comparisonRelease Notes
Add scale factor and offset, so that original symbol can be used.Release Notes
Updated multiplication factors for FRED data streams to get numbers in USD units:RRPONTSYD * 1000000000.0
Reverse repurchase agreements in dollars
WCURCIR * 1000000000.0
currency in circulation in dollars
WRESBAL * 1000000000.0
reserve balances in dollars
Release Notes
revert FRED scale factors.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.