Global Liquidity – Impulse (ROC & Z-score) [GMI-style]

What it is:
Liquidity is a faucet. When central banks add money, the faucet opens (risk-on). When they pull money out, it closes (risk-off). This indicator builds a global net-liquidity proxy and shows its impulse:
- ROC (green/red histogram): % change vs N weeks ago.
- Z-score (cyan line): how unusually strong the latest weekly move is.

Why it matters:
Liquidity impulse often leads risk assets (equities/crypto) by weeks to a few months.
- Green bars > 0 + positive Z → friendlier risk-on backdrop.
- Red bars < 0 + negative Z → tightening conditions; caution.

Data used (TV Economics / FRED):
USA (FRED, millions USD):
- FRED:WALCL (Fed assets)
- FRED:RRPONTSYD (Reverse Repo – subtract)
- FRED:WTREGEN (Treasury General Account – subtract)

Other CBs (Economics, units vary):
- ECONOMICS:EUCBBS (ECB)
- ECONOMICS:JPCBBS (BoJ)
- ECONOMICS:CNCBBS (PBoC)
Optional:
- ECONOMICS:GBCBBS (BoE, UK)
- ECONOMICS:CACBBS (BoC, Canada)
- ECONOMICS:CHCBBS (SNB, Switzerland)
- ECONOMICS:AUCBBS (RBA, Australia)

Proxy (scaled to billions):
(Fed − RRP − TGA) + ECB + BoJ + PBoC + [optional BoE/BoC/SNB/RBA]

How to read:
- Green bars above 0 = faucet opening → money in → risk-on.
- Red bars below 0 = faucet closing → money out → risk-off.
- Taller bar = stronger push.
- Cyan Z > +1 = unusually strong positive impulse; Z < −1 = unusually strong negative impulse.
- Background: green when ROC>0 & Z>0, red when ROC<0 & Z<0.

Quick reading guide (TL;DR):
- Early risk-on: ROC crosses > 0 and Z > 0 (ideally Z ≥ +1).
- Early risk-off: ROC crosses < 0 and Z < 0 (ideally Z ≤ −1).
- Use weekly timeframe; price often reacts with a 0–12 week lag.
- Combine with PMIs/New Orders, real yields (down), and credit spreads (narrowing).

Notes:
Symbols may differ by provider; leave optional banks OFF if missing. Currencies/units differ across CBs; this is a pragmatic proxy, not a perfect macro model. Educational use only; not financial advice.