Here is a William VIX FIX indicator for Metatrader 4 software. William VIX FIX is a bottom predicting indicator and we had covered enough articles here in marketcalls. VIX FIX indicator is already coded for Amibroker as well.
Willam VIX FIX study has been applied over the daily and weekly charts of Nifty futures. And VIX FIX turning down from the peak indicate a possible bottom is already in place. On the weekly charts Nifty futures has to maintain 5197 Weekly 5EMA low as support on weekly basis. And the 5EMA High weekely levels are at 8483.
We know that VIX most of the time reflects the investor/traders sentiment. When VIX is higher it means lot of fear in the market and lower VIX indicates lack of fear in the market. The problem is the sentiment can be measured only Indices like Nifty as the Volatility Index VIX is derived from implied volatility of Options. In such a case VIX FIX comes handy to replicate the VIX behaviour in other instruments like Commodities, Forex, Stocks.