Real VIX
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © rodopacapital

//@version=5
// This line sets the script's version to 5.

indicator("Real VIX", overlay=false)
// This line sets the name of the indicator to "Real VIX" and sets the overlay parameter to false, which means the indicator will be displayed below the chart.

hyg = request.security("100- FRED:DBAA", timeframe.period, close)
dxy = request.security("TVC:DXY", timeframe.period, close)
us30y = request.security("TVC:US30Y", timeframe.period, close)
us20y = request.security("FRED:DGS20", timeframe.period, close)
us10y = request.security("TVC:US10Y", timeframe.period, close)
us05y = request.security("TVC:US05Y", timeframe.period, close)
us01y = request.security("TVC:US01Y", timeframe.period, close)
usdcad = request.security("FX:USDCAD", timeframe.period, close)
// These lines fetch historical data for various tickers using the `request.security` function and store them in variables named `hyg`, `dxy`, `us30y`, `us20y`, `us10y`, `us05y`, `us01y`, and `usdcad`.

val = 1 / (hyg / (dxy - usdcad/100)) * (1 / ((us30y*5 + us20y*4 + us10y*3 + us05y*2 + us01y) * 100))*200000
// This line applies a complex formula that uses the fetched data to calculate the `val` variable.

curve = ta.sma(ta.lowest(val,90),260)
// This line applies a simple moving average to the lowest 90 values of `val` and stores the result in the `curve` variable.

real_vix = val-curve
// This line subtracts `curve` from `val` to calculate the `real_vix` variable.

col = real_vix>0 ? color.green : color.red
// This line sets the `col` variable to `color.green` if `real_vix` is greater than 0, and to `color.red` otherwise.

bgcolor(real_vix < 0 ? color.new(color.red,95) : na)
// This line sets the background color of the chart to a transparent red if `real_vix` is less than 0, and to `na` (i.e., no color) otherwise.

hline(0)
// This line adds a horizontal line at the y-coordinate 0 to the chart.

plot(real_vix, color=col, linewidth=2)
// This line plots the `real_vix` variable on the chart using the `plot` function. The `color` parameter is set to `col`, and the `linewidth` parameter is set to 2.

// In summary, this Pine Script v5 code fetches historical data for various tickers, applies a complex formula to calculate the `val` variable, and subtracts a simple moving average of the lowest 90 values of `val` to obtain the `real_vix` variable. It also sets the background color of the chart and adds a horizontal line at the y-coordinate 0. Finally, it plots the `
