Risk-On / Risk-Off Meter

Twelve Data · 3-hour shared refresh. The existing heuristic is retained: score = clamp(50 + signed daily percent change ÷ typical move × 25, 0, 100), then equal-weight average of available observations. Below 35 is Risk-Off, above 65 Risk-On. At least 6 of 9 fresh indicators are required; missing indicators are excluded and partial coverage is labeled. ETF proxies represent their named ETFs, not the underlying index. Quote times vary by market. This is an unvalidated sentiment heuristic, not a forecast or trading signal.