The story behind OnOff.Markets and the transparent calculations powering our Fear & Greed Indices.
OnOff.Markets is an independent alternative to black-box sentiment indices. Built for traders and investors who want to understand exactly what drives the numbers—not just see them.
The project started with a simple frustration: every sentiment tool claimed to measure "fear & greed," but none explained how. Vague methodology. Hidden calculations. "Proprietary algorithms." Zero transparency.
So I built what I wanted to see: multi-asset sentiment indices with complete methodology transparency. Every component explained. Every weight published. Every data source cited. Updated daily via automated workflows.
First Gold, then Stocks, then Crypto, then Bonds. Once all four were live, I realized I had something unique: a Market Sentiment Indicator showing when investors shift between safe havens (bonds + gold) and risk assets (stocks + crypto). That's the core insight behind OnOff.Markets.
No subscriptions. No paywalls. No proprietary secrets. Just transparent quantitative analysis, updated every day at 02:00 UTC.
I'm Jonathan, a self-taught developer based near Paris. I work in transport operations on rotating shifts, and I use my free time to build things: this site, an electro-rock band that plays across the Paris region (Revenge of the Geeks), and a shop where I restore vintage 80s Apple computers (Apple_Nostalgeek).
I'm more creative than engineer, more curious than specialist. OnOff.Markets exists because I wanted transparent market sentiment tools, couldn't find any, so I learned to build them myself.
Markets are driven by two fundamental emotions: fear and greed. When fear dominates, investors sell aggressively, often creating oversold conditions and buying opportunities. When greed takes over, markets become euphoric and overbought, increasing the risk of corrections.
Our indices quantify this psychology across four asset classes—Gold (safe haven), Bonds (risk-off), Stocks (growth), and Crypto (speculation)—by analyzing multiple technical and sentiment indicators. Each index scores from 0 to 100:
Key insight: Extreme readings are contrarian signals. When everyone is fearful, it's often the best time to buy. When everyone is greedy, caution is warranted.
Contrarian strategy: Extreme Fear often marks capitulation bottoms where panic selling creates opportunities. Extreme Greed signals overheated markets vulnerable to pullbacks. Extreme readings (< 25 or > 75) are commonly used as contrarian signals by traders, though past performance does not guarantee future results.
Cross-asset monitoring: Track sentiment across Gold, Bonds, Stocks, and Crypto to identify broader market regime shifts.
Risk-off signal: Gold rising + Stocks/Crypto falling = defensive rotation.
Risk-on signal: Crypto/Stocks rising + Gold falling = risk appetite returning.
Compare the four asset cards side by side to spot these flows in real-time.
Programmatic access (available on request):
Interested in API access? Email contact@onoff.markets to discuss your use case and requirements.
All data is sourced from public, free APIs with intelligent fallback mechanisms:
Problem: FRED API does not publish data on weekends and holidays, which could cause stale readings or default neutral (50.0) scores.
Solution: Intelligent fallback hierarchy ensures real market data is always used:
Coverage: Yahoo Finance provides real-time market data 24/7 including weekends (last closing price), ensuring indices always reflect actual market conditions rather than stale or neutral defaults.
Full calculation source code available on request for verification and review. Email contact@onoff.markets to access complete Python implementation, historical data, and documentation.
Update Schedule: All indices updated daily at 2:00 AM UTC (3:00 AM Paris / 9:00 PM ET) via automated GitHub Actions workflow. Historical data spanning 365 days is maintained for each index.
Transparency Commitment: No proprietary data sources. All calculations are transparent and independently verifiable. Fallback logic documented and testable.
Our indices use multi-component quantitative models designed to capture market sentiment shifts. Extreme readings (< 25 or > 75) tend to be more reliable as contrarian signals, while mid-range values reflect genuine market uncertainty. These are analytical tools designed to complement—not replace—fundamental analysis and risk management. No sentiment indicator is perfectly predictive, and past patterns may not repeat in future market conditions.
Most components use 14-day windows to capture sustained sentiment shifts rather than panic reactions. Some faster signals exist (VIX z-score, RSI, crypto volume 7-day), but the overall index typically takes 2-4 days to fully reflect sudden events. This is intentional—we track structural sentiment trends, not headlines. For day trading signals, other tools may be more appropriate.
CNN's index only covers US stocks. We provide four separate indices for Bonds, Gold, Stocks, and Crypto, enabling comprehensive cross-asset sentiment analysis. Our methodology is fully documented and transparent, unlike CNN's proprietary calculations. The Market Sentiment score is the simple average of all four indices — when three out of four markets are in Fear, the composite reflects that reality.
Currently, all data is available via public JSON endpoints (e.g., /data/bonds-fear-greed.json) updated daily at 02:00 UTC. These files contain current scores, component breakdowns, and 365 days of historical data.
For programmatic API access with authentication, webhooks, and advanced features, contact us at contact@onoff.markets to discuss your requirements.
Each asset class has unique market dynamics requiring tailored indicators:
More components doesn't mean better—it means more relevant. Each index is optimized for its specific market.
Yes. Common use cases include:
Current data is accessible via JSON endpoints (e.g., /data/bonds-fear-greed.json), updated daily at 02:00 UTC. Programmatic API access may be available in the future—contact us for details. Always backtest thoroughly before deploying in production.
Questions? Feedback? Want to discuss methodology, partnerships, or API early access?
contact@onoff.markets