TradingView
quantgym
4 ott 2020 08:56

NandyVolShift 

S&P CNX NIFTY INDEX FUTURESNSE

Descrizione

How a difference between standard deviation and ATR suggests a change in the volatility regime. Trends and congestions can be picked up

Note di rilascio

Minor typo correction

Note di rilascio

Current version much easier to see and understand the trending zones

Note di rilascio

updated

Note di rilascio

updated
Commenti
santoshgauda7
how to use this?
krhegde
@santoshgauda7, either search for it in the library else copy paste it in pine editor and save it by different name and add to chart
dgtrd
just a little note,

trend value will have values between 0 and 1 for all instruments
but volshift may have totally different values, i.e for some instrumnets may have values from -200 to +200 and some instruments from -0.05 to + 0.05

please check below the outputs, how it effects visulization.





if i may suggest one alternative to overcome this is to change the color of volshift based on trend and there will be no need to plot trend it will be codded as color on volshift. Just a suggestion ;-)

plot(volshift, color = trend ? blue : silver, title = "NandyVolShift", style = line, linewidth = 2)
RajeshV
@dgtrd,

Hi! Thank you for the additional code. It made it look better. How do you interpret the indicator? I would be grateful to you.
dgtrd
hello @RajeshV,

this is how i have interpreted this study:



special thanks to @quantgym for his inspiring idea
RajeshV
@dgtrd,

Thank you so much mate for taking time out to give such a wonderful explanation. It makes much more sense now. I saw all your scripts here at TradingView. You are doing an excellent job.

My gratitude!

Regards.
dgtrd
Thanks @RajeshV, I am glad if you find value in them ;-)
RajeshV
@dgtrd,

Best wishes!
dgtrd
made me feel i am looking to a different version of squeeze indicator. thanks for sharing
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