ToolTack Sharpe Ratio Gauge
Multi-Symbol Risk-Adjusted Return Screener for TradingView
See which symbols are paying you for the risk you take — and which aren’t. Sharpe Ratio Gauge scans up to 40 tickers in a single view, ranks each by 30, 90 and 180-day Sharpe ratio, and labels the broader market regime as Risk-On, Risk-Off, Cautious or Balanced — all on one chart.
01 Quick Summary
Sharpe Ratio Gauge is an invite-only TradingView indicator that scores up to 40 symbols on the metric that actually matters: return per unit of risk. Each symbol gets three Sharpe ratios (30, 90 and 180 days), a 30-day total return, an annualised volatility figure and a drawdown reading — then the dashboard rolls the whole set up into a single market-regime label so you can read the breadth of the tape at a glance.
02 Overview
The Sharpe ratio measures how much excess return an asset delivers per unit of risk it forces you to carry. A high Sharpe is good — a lot of return for a little volatility. A negative Sharpe means the asset is making you pay for the privilege of holding it. Most traders only ever see Sharpe in a back-test report, after the fact. Sharpe Ratio Gauge brings it onto your live chart, across three time windows, for a whole universe of symbols.
How it supports your process: Use it as a top-down filter. Open the chart and you instantly see which symbols are overheating (Sharpe extreme positive — momentum stretched), under-rewarded (Sharpe mildly negative — potential mean-reversion candidates) or critically under-valued (Sharpe deeply negative — capitulation territory). Then drill into individual names with the rest of your toolkit.
Beneath the screener, the chart symbol itself gets a dedicated Sharpe ratio oscillator with horizontal zone lines for Over Valued, Under Valued, Critically Under Valued and the neutral midline — so you can watch how the focused ticker moves between regimes over time. Every threshold cross triggers an optional alert, and the indicator auto-detects light or dark chart themes for clean rendering.
03 Key Features
Paste a comma-separated list of up to 40 tickers (any combination of stocks, ETFs, futures, crypto, forex) and see them ranked side-by-side in a clean two-pane dashboard — symbols 1–20 on the left, 21–40 on the right.
Each symbol gets three independent risk-adjusted return scores: a short-term (30-day) read for tactical signals, a 90-day for context, and a 180-day for the structural picture. Every value is annualised and adjusted for the configured risk-free rate.
Each Sharpe value is shaded green for under-valued, red for over-valued, blue for critically under-valued, and neutral when in the middle band — so you read tilt instantly without studying the numbers.
Three threshold inputs — Over Valued (default 5.0), Under Valued (default −1.0) and Critically Under Valued (default −3.0) — let you tune the gauge to your market or asset class.
Adjust the annualised risk-free rate (default 4%) used in the Sharpe calculation. Update it when central bank rates shift so your gauge keeps reflecting real opportunity cost rather than a stale benchmark.
An arrow (▲ / ▼ / —) next to the 180-day Sharpe shows whether it has improved, declined or held versus 30 bars ago — momentum on top of the level so you don’t mistake a stalled rally for a strengthening one.
Every row also reports 30-day total return, annualised volatility (%) and current drawdown from peak (%). Drawdowns deeper than 10% and 20% are colour-flagged for quick attention.
Aggregates the whole basket: Distribution counts across all four zones, Momentum (improving vs declining), basket-wide average Sharpe, return and volatility — plus the Best and Worst Sharpe symbols by name.
Rolls the distribution up into one of four labels: Risk-On (majority overvalued), Risk-Off (majority critical), Cautious (undervalued dominant) or Balanced (neutral majority). One line to describe the whole tape.
Below the price pane, the focused ticker’s 180-day Sharpe is plotted as a coloured line with dashed horizontal threshold lines for each zone — so you can trace the regime history of the symbol you’re currently looking at.
Built-in alert hooks fire whenever the 180-day Sharpe of any screened symbol crosses an Over, Under or Critically Under threshold — for ToolTack push, email, webhook or app-based notifications.
Auto-detects light and dark TradingView themes, exposes the four zone colours as inputs, and offers four table sizes (Tiny / Small / Normal / Large) plus three vertical positions (Top / Middle / Bottom) for flexible workspace setup.
04 How to Use Sharpe Ratio Gauge
Add it to TradingView on the Daily Timeframe
Open the Indicators menu → Invite-Only Scripts → select Sharpe Ratio Gauge [ToolTack] and apply it to your chart. Switch the chart to the Daily (1D) timeframe — the indicator is calibrated for daily bars and will display an on-screen warning on any other interval.
Paste Your Symbol List
Open the indicator settings, find the 🔗 Symbol List field, and paste up to 40 tickers separated by commas. Use the full TradingView format including the exchange prefix — for example NASDAQ:AAPL,NYSE:JPM,BINANCE:BTCUSDT. The default list ships with the largest U.S. equities for reference.
Set the Risk-Free Rate & Lookback
Under ⚙️ Main Settings, adjust the Risk-Free Rate to match the current short-end policy rate of your reference currency (default 4%). Leave the Lookback Period at 180 days unless you have a specific reason to shorten or lengthen the structural window.
Tune the Thresholds for Your Universe
Equities and ETFs typically work fine with the defaults (5 / −1 / −3). Higher-vol asset classes such as crypto or single-name tech often need wider bands — try Over 3.0, Under −0.5, Critical −2.0 and refine from there.
Read the Dashboard Top-Down
Start at the Regime line in the Market Statistics panel for the overall market posture. Then check Distribution and Momentum for breadth, and finally drop into the per-symbol rows to find specific candidates — the green rows on the under-valued side and the red rows on the over-valued side.
Pivot to a Single Symbol
Change the chart to a name flagged in the screener. The Sharpe oscillator beneath the price pane will redraw for that ticker so you can see the timing of the regime change — how long the symbol has been in zone and whether it’s curling back toward neutral.
Set Alerts on the Zones You Care About
Right-click the indicator → Add Alert, choose Sharpe Ratio Gauge as the condition, and the built-in ToolTack: SYMBOL crossed ... messages will fire to whichever delivery channel you configure.
Combine with your own analysis
Treat the gauge as a screener, not a buy/sell signal. Use it to shortlist names for closer review with your structural, momentum and risk tools, and validate every read against your trade plan before sizing.
05 Understanding the Sharpe Zones
The gauge maps four behavioural states onto the Sharpe ratio. Threshold values shown below are the shipped defaults — tune them to your asset class.
Excess return per unit of risk has stretched well above normal. Often signals a mature trend or short-term froth — tighten stops on longs and be cautious on chasing.
Risk-adjusted returns are inside the normal historical range. No directional edge from the gauge alone — lean on your other tools and structure.
Symbol is paying poorly for the risk you take. Common at pullback lows in healthy uptrends — potential mean-reversion candidate when combined with confirming structure.
Risk-adjusted returns are deeply negative — capitulation / forced-selling territory. Powerful zone but high-risk: never anchor decisions to it without confirming reversal evidence.
06 Strategy Ideas
Educational examples only — always test before using real capital.
Buy the Critically Under-Valued
When a quality symbol prints a Critically Under Valued reading and the 30-day Sharpe starts curling up versus the 90 and 180-day reads, the worst of the drawdown may be behind it. Wait for a structural confirmation before entering, and size for the still-elevated volatility.
Ride Over-Valued, Tighten Stops
Over Valued names are often the strongest trends. Rather than fading them on principle, stay long but trail stops tighter and reduce size — the gauge tells you risk is now stretched, even if the trend hasn’t broken.
Rotate Toward the Best Sharpe
Build a basket of sector ETFs (or factor indexes) in the symbol list. The dashboard’s Best / Worst SR rows give you a continuous read on which segment is currently paying best per unit of risk — the simplest possible rotation signal.
Trade With the Tape
Use the Regime label as a top-down filter on every other strategy. Run continuation plays in Risk-On regimes, defensive / mean-reversion plays in Risk-Off, and step down size in Cautious or Balanced regimes where breadth is mixed.
Trend Arrow + Threshold Cross
A 180-day Sharpe crossing back above the Under Valued threshold while the trend arrow turns ▲ is structurally stronger than a cross with a flat or declining arrow. Use the alert hooks to surface only the higher-quality reversals.
Avoid the −20% DD Column
Cells where DD% prints red (deeper than 20% from peak) are still in serious structural damage even if the short-term Sharpe is improving. Use that column as a hard filter on which names you’ll touch on the long side.
Reminder: these are educational frameworks, not trade recommendations. Sharpe Ratio Gauge is a screener — it surfaces information, it doesn’t predict outcomes. Always validate on historical data and in a simulator before risking capital, and size positions within your risk plan.
07 Best Tools to Combine With
Sharpe Ratio Gauge gives you what to look at and how stretched it is. Pair it with directional and structural tools to convert that read into actionable plans.
Once the gauge shortlists a name, the heat map shows the liquidity zones where price is most likely to react — structural context for the screened candidate.
Confirm Sharpe-based candidates against BOS / CHoCH and Fib zones for higher-conviction entries and exits.
Layer large-print bubbles onto your shortlisted symbols to see whether real size is supporting the regime change the gauge is flagging.
Use classic momentum to time entries within the Sharpe-defined regime — especially for mean-reversion plays out of the Critical zone.
Stop placement and position sizing on Sharpe-stretched symbols should be scaled by ATR, not by chart points alone — the gauge already tells you volatility is elevated.
Standardise stops, targets and position sizing on every Sharpe-informed trade — context without risk control isn’t an edge.
08 Easy Setup Guide
Get all 28+ tools activated in 4 simple steps.
Go to Your Dashboard
After purchasing your plan, log in to your ToolTack account and navigate to your personal dashboard. This is your command centre for managing your subscription and tools.
Update Your TradingView Username
Enter your exact TradingView username in the designated field. Make sure it matches your TradingView profile exactly — this is how access is granted.
Wait for Activation
The ToolTack team will activate the tools on your TradingView account within 24 hours. You will receive a confirmation email once activation is complete.
Access Your Tools
Open TradingView → Indicators → Invite-Only Scripts. Your ToolTack indicators, screeners, dashboards and strategies will be ready to add to your charts.
09 Who It Is For
Why Subscribe to ToolTack
One subscription unlocks the full ToolTack library — indicators, screeners, dashboards and strategies built specifically for TradingView workflows. Activate with your TradingView username and access everything from a single dashboard.
- Access to 28+ TradingView tools
- Faster, more structured market analysis
- Decision-support, not signal services
- Built for the TradingView ecosystem
- Useful for learning & testing
- Easy activation in under 24 hours
- One dashboard to manage everything
- Continuous additions to the toolset
10 Frequently Asked Questions
What exactly is the Sharpe ratio measuring here?
It’s annualised excess return divided by annualised volatility over each lookback window. Daily returns are converted to annualised figures, the configured risk-free rate is subtracted, and the result is divided by the annualised standard deviation of returns. A higher Sharpe means more return per unit of risk.
Why does the indicator warn me about timeframes?
The Sharpe calculations are calibrated for daily bars (annualisation factor and the 30 / 90 / 180-day windows). Running it on intraday or weekly charts will produce mathematically incorrect figures, so the script displays an on-chart warning until you switch back to the 1D timeframe.
Can I screen more than 40 symbols?
Not in a single instance — TradingView caps how many request.security calls a script can run per chart, and 40 is the practical ceiling. You can however add the indicator to multiple charts with different lists, or split a large universe across two layouts.
How do I format the symbol list?
Comma-separated, with the TradingView exchange prefix, e.g. NASDAQ:AAPL,NYSE:JPM,BINANCE:BTCUSDT,NSE:RELIANCE. Spaces are tolerated. Symbols the data provider does not return for any reason are silently skipped.
What does the Regime label actually mean?
It’s a simple roll-up of the Distribution counts. Risk-On = majority of symbols are over-valued (trend stretched). Risk-Off = majority are critically under-valued (capitulation). Cautious = undervalued is the largest bucket. Balanced = neutral majority. It’s a heuristic, not a forecast.
Should I always go long the Best SR and short the Worst SR?
No. The Best SR is often the most stretched trend — not a fresh entry. The Worst SR is often in active draw-down — not a safe bottom. The dashboard surfaces information; entry timing and structural confirmation still come from your other tools.
Does this indicator guarantee profitable trades?
No. Sharpe Ratio Gauge is an analysis utility. It surfaces information; it does not predict markets and does not guarantee outcomes. Always combine with your own analysis and risk plan.
Does it work on all asset classes?
Yes, anywhere TradingView provides daily price data — equities, ETFs, futures, indices, crypto and forex. Volatile asset classes such as crypto typically need wider Over / Under thresholds than equities; tune the inputs to fit the universe you load.