OPEN-SOURCE SCRIPT

Intraday Volatility Bars

This script produce a volatility histrogram by bar with the current volatility overlayed.
The histogram shows cumulative average volatility over n days.
And the dots are todays cumulative volatility.

In other words, it calculates the True Range of each bar and adds it to todays value.

This script is build for intraday timeframes between one and 1440 minutes only.

I use this to show me when volatility is above/below/equal to the average volatility.
When the dots are above the histogram then it is a more volatile day, and vice versa.
Recognizing a more volatile day as early as possible can be an advantage for daytrader.

Days that start with higher volatility seems to continue to increase relative to the past few days. Or when midday volatility rises it seems to continue as well.

Happy Trading!
daytradingforecastingHistorical Volatilityvolatilityindicator

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 publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

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