Volatility Index of Range Verification


This is a volatility indicator created by extending concepts from Tushar Chande's Range Action Verification Index (RAVI).


This indicator constructs range of the RAVI indicator. It uses this range to build a histogram that represents how fast the range is changing, or a measure of volatility. A line is then constructed, either from a moving average or standard deviation depending on the settings that can serve as an action trigger.


 • Fast MA Period: the period of the quickest moving average that is used to build the RAVI indicator line
 • Slow MA Period: the period of the slowest moving average that is used to build the RAVI indicator line
 • MA Type: the type of moving average to use, either Simple or Exponential
 • Price Source: the type of price source to use; close, high, low, hlc3, etc.
 • Lookback Period: how far back to construct the minimum and maximum of the range
 • Standard Range: the standard range of the indicator. a smaller range will exaggerate differences in the columns, and vice-versa
 • Volatility Period: the period used for the trigger line moving average
 • Std. Deviation Mode?: Whether the trigger line will plot using a moving average or a multiple of Standard Deviation.
 • Deviation Multiplier: How many deviations to use if the trigger line is in Std. Deviation Mode

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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