PROTECTED SOURCE SCRIPT
Updated BUILDER
The Frequency (%) tells you the historical probability of the price range exceeding that specific volatility level.
Here is exactly what it calculates:
ADR Frequency: "Over the last 365 days, how often (what % of days) did the daily range exceed the current ADR?"
ADR x3 Frequency: "How often did the price move 3 times the normal daily range?" (This happens very rarely, usually <1% of the time, so if you see a price at ADR x3 layers, it's an extreme outlier).
AWR Frequency: Same logic, but looking at the last 52 weeks.
How to use it:
High % (e.g. 50%+): Means this level is hit very often. Passing this level is "normal" behavior.
Low % (e.g. 5%): Means price rarely extends this far. If price reaches this level, it is statistically overextended and a reversal is more likely.
0%: Means this level of volatility has effectively never happened in the lookback period (or extremely rarely).
It basically answers: "Is today's move normal, or is it a rare statistical event?"
Here is exactly what it calculates:
ADR Frequency: "Over the last 365 days, how often (what % of days) did the daily range exceed the current ADR?"
ADR x3 Frequency: "How often did the price move 3 times the normal daily range?" (This happens very rarely, usually <1% of the time, so if you see a price at ADR x3 layers, it's an extreme outlier).
AWR Frequency: Same logic, but looking at the last 52 weeks.
How to use it:
High % (e.g. 50%+): Means this level is hit very often. Passing this level is "normal" behavior.
Low % (e.g. 5%): Means price rarely extends this far. If price reaches this level, it is statistically overextended and a reversal is more likely.
0%: Means this level of volatility has effectively never happened in the lookback period (or extremely rarely).
It basically answers: "Is today's move normal, or is it a rare statistical event?"
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This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.