RicardoSantos

[RS]Volatility Explosive Measure V0

EXPERIMENTAL:
Measures the volatility range of current price range, can help detect squeezes as well explosive moves
Remove from Favorite Scripts Add to Favorite Scripts
//@version=2
study(title='[RS]Volatility Explosive Measure V0')
f_bullish_sequence()=>
    _output = 0
    _range = close - open
    _doji = _range == 0
    _up_bar = _range > 0 or _doji and _range[1] > 0
    _counter = barssince(not _up_bar)
    if (_up_bar)
        for _i = 0 to max(0, _counter - 1)
            _output := _output + _range[_i]
    _output

f_bearish_sequence()=>
    _output = 0
    _range = close - open
    _doji = _range == 0
    _up_bar = _range < 0 or _doji and _range[1] < 0
    _counter = barssince(not _up_bar)
    if (_up_bar)
        for _i = 0 to max(0, _counter - 1)
            _output := _output + _range[_i]
    _output

bull_seq = f_bullish_sequence()
bear_seq = f_bearish_sequence()

length = input(10)
bull_ma = ema(bull_seq, length)
bear_ma = ema(bear_seq, length)
width = bull_ma - bear_ma

plot(width, color=color(black, 0), style=area)
// plot(bull_seq, color=color(lime, 0), style=columns)
// plot(bear_seq, color=color(red, 0), style=columns)
// plot(bull_ma, color=color(purple, 25), style=area)
// plot(bear_ma, color=color(purple, 25), style=area)
sk12722
4 months ago
Hi,,,can you help elaborate more on how to read this indicator ? I trade the 5 m chart and keen to understand this indicator. Thanks. Rgds
Reply
RicardoSantos PRO sk12722
4 months ago
the higher the value the bigger the explosive movement, lower less movement generally peaks would be tops/bottoms but not always, as a top/bottom may not occur always at the end of the explosive move
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out