This indicator aims to compare between two charts if trader isn't sure which one is more active and powerful, it does NOT show entries or help your chart analysis directly.
The main features of this indicator is to show vitality and range of any given chart.
Volatility: it calculates the average profit of every swing in the range and the final result will be the chart volatility, which indicate how profitable this chart is. Range: it calculates the profit of the whole range compared to the total price. (E.g. range bottom is 0.1 and range top is 0.2 the range will be 100%) Extra: indicator shows the total direction of the chart in term of (STRONG UPTREND, UPTREND, SIDEWAYS, DOWNTREND, STRONG DOWNTREND), if you got (Somthing_wrong) please contact me.
How to use: apply the indicator on different charts that you have chosen and the higher (volatility & range) the more profitable the chart is.
inputs:
Lookback length: how long the range is (how many candles are included).
How intense should the Swing be: how many candles should be counted as a confirmation complete swing.
Show counted Swings: if checked as true, will show the swings counted in the volatility calculation.
For any notes on the indicator to be edited, or for another indicator ideas please comment.
@Sultan_shaya, is there a way to make this multi time frame?
Sultan_shaya
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@timthegoat1, It directly uses the time frame of the chart, 1- if you use a small time frame you can increase the (lookBack length) from the sitting tab.
2- If you mean using many time frames at the same time and getting their average, that's surly possible but what's the point.
3- if you mean showing many time frames result on the screen, this is also possible.
4- if you want to use another time frame from the current showing time frame, this is also possible.
there is new version coming soon probably, tell me your needs exactly and I will add it if possible.
timthegoat1
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@Sultan_shaya, Hi sultan i mean like and option in setting to select maybe 2 higher time frames to show in the tab just to say for example
i'm on the 15 min and i want to see what 1 hour is saying and 4 hour just a tab with green for uptrend for the higher time frames
thank you for this so option 3
Sultan_shaya
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@timthegoat1, Sure no problem, I am currently working on another indicator, once I finish I will update it and upload it.