Multiple Frequency Volatility Correlation — Indicator by RicardoSantos

oscillator volatility volumestudies correlation

This is a complex indicator that looks to provide some insight into the correlation between volume and price volatility.
Rising volatility is depicted with the color green while falling volatility is depicted with purple.
Lightness of the color is used to depict the length of the window used, darker == shorter in the 2 -> 512 window range.

Release Notes:

added a histogram to show last and recent(10 bars) distribution of correlation

Release Notes:

updated histogram calculation, it now allows the input length of the aggregation of values, added values display on histogram bars.

Release Notes:

added labels with some description.

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.

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.

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