> For the complete documentation index, see [llms.txt](https://docs.candelacharts.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.candelacharts.com/investing/macro-and-liquidity/macro-credit-model/features.md).

# Features

The Macro Credit Model transforms complex fixed-income data into an actionable, visual format right on your TradingView chart, equipping you with robust tools to assess true market risk.

* **Excess Spread Calculation**: Automatically computes the pure credit risk premium by subtracting Investment Grade spreads from High Yield spreads.
* **Statistical Z-Score Normalization**: Uses a configurable lookback period (e.g., 252 days) to dynamically calculate whether current spreads are statistically elevated or suppressed.
* **Dynamic Risk Zones**: Clearly defined and customizable threshold levels for "Stress", "Elevated", "Low", and "Extreme" credit environments, complete with background highlights.
* **On-Chart Signals**: Plots clear signal markers (◼ for Stress, ☐ for Elevated/Low) when the credit spread crosses critical structural thresholds.
* **Comprehensive Dashboard**: Displays real-time metrics including the raw Excess Spread (in basis points), current Z-Score, historical percentile, spread momentum, and a VIX cross-validation check.


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