OPEN-SOURCE SCRIPT
Volatility Meter
Updated
The title is quite self explanatory. It is a Volatility Meter based on Bollinger Bands Width and MA.
These parameters can be selected by users in settings tab:
- Basic Bollinger Bands Parameters: length, standart deviation and source
- Timeframes: 1h, 2h, 3h and 4h
If the indicator is red it means volatility is high in the market. If it is white, it means that market is not volatile right now.
These parameters can be selected by users in settings tab:
- Basic Bollinger Bands Parameters: length, standart deviation and source
- Timeframes: 1h, 2h, 3h and 4h
If the indicator is red it means volatility is high in the market. If it is white, it means that market is not volatile right now.
Release Notes
The title is self-explanatory. It is a Volatility Meter based on Bollinger Bands Width and Moving Averages. It also uses the concept of multi-time frame analysis.You can decide the options below on the settings tab:
- Basic Bollinger Bands Parameters: length, standart deviation and source
- Timeframes: 1h, 2h, 3h and 4h
If the indicator is red, it means volatility is high in the market. If it is white, it means the market is not volatile right now. If you use it in a smaller timeframe than it is calculated then you will get the multi-timeframe analysis of the volatility. As could be seen on the chart above, if it is red it usually means that big market moves are expected.
Use it on 4H or smaller time frames to get the multi-time frame volatility insight. If you use it on the time frame greater than 4H please select the calculated time frame accordingly. (NOTE: credits on the source code is removed.)
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.
Disclaimer
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