# Macro Sentiment Index The **Macro Sentiment Index (MSI)** is a multi-asset, rules-based indicator designed to quantify global market risk appetite by aggregating signals from a diversified basket of financial instruments across equities, fixed income, commodities, currencies, volatility, and macroeconomic data. Developed under the **CandelaCharts** framework, MSI transforms complex intermarket dynamics into a single, interpretable sentiment score. It reflects the collective behavior of institutional and retail investors, central bank policies, liquidity conditions, and macroeconomic trends. Rather than relying on a single data source, the index combines **over 30 components** grouped into five core categories: * Risk-On Assets * Risk-Off / Defensive Assets * Macro & Interest Rate Indicators * Central Bank & Policy Proxies * Sentiment Ratios & Cross-Asset Signals Each component is standardized using z-score normalization over a user-defined lookback period, weighted based on empirical significance, and aggregated into a **composite sentiment score**. The final output oscillates around a neutral baseline (0), with positive values indicating **risk-on** conditions and negative values signaling **risk-off** sentiment. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.candelacharts.com/investing/macro-and-liquidity/macro-sentiment-index.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.