How to make an equal weight index on Tradingview

An equal-weighted index treats all stocks equally, removing the bias of giving more weight to big companies and giving a fair view of the overall sector

Making a equal weight index on tradingview is simple

 

Step 1)

Go to Tradingview website and launch a chart

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Step 2)

On the indicators tab search for custom indicator 'Make your own index' and select the indicator by 'scheplick'

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Step 3)

Double click on the plotted indicator to assign the name and weights

10 stocks = 10% each

5 stocks = 20% each

4 stocks = 25% each and so on... to make it equal weight

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Here is your custom built index for housing finance companies assigning an equal weight to all the stocks

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Happy Charting 🙂

 

 

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