MoT - [Analyst] - True Volatility Index - Free Edition


The TVX is all in all a better Average True Range . It is used in the same way, but tracks volatility changes better than the standard ATR.


AUDNZD on the 4HR Time Frame


- In the Top Panel we have this Indicator, our True Volatility Index (Free Version)

- On the Chart we have Berlin Candles which is our unique take on a mix between normal candles, Heikin Ashi candles all while retaining the essential data.

- Also on the chart we have our ATR-filtered Exponential Moving Average . It either plots further away from price or closer to price, the higher or lower the current ATR is compared to recent history.

- In the Bottom Panel we have our version of On-Balance Volume based on Heikin-Ashi Candles


Many Thanks and Trade Safe!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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