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
Step 2)
On the indicators tab search for custom indicator 'Make your own index' and select the indicator by 'scheplick'
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
Here is your custom built index for housing finance companies assigning an equal weight to all the stocks
Happy Charting 🙂
