OPEN-SOURCE SCRIPT
Relative Volatility Measure (RVM) Daily Charts
This was uploaded before I believe by © AIFinPlot and it's gone.
I use this to know and to see WHEN volatility cycles are high meaning high volatility is present in the chart from price expansion or volatility increasing in the product (as it goes in cycles that can be very different from every other day) to low volatility ONLY for the daily chart to know my environmental conditions on the 3-1 minute timeframe, so I can avoid trending, breakout strategies when on low volatility (yellow and red areas) and utilize breakouts or trend strategies on high volatility environments (no color). tweak it. hope it helps!!
This is a script only to give you a holistic idea of the volatility for the last couple of hours or days. It is not a product to predict future volatility or any future volatility. Combine this with looking at how size candles have grown or decreased, order flows and speed, swings getting bigger or smaller, and checking with the VIX to gauge volatility in order to know if your strategy will work in current conditions.
works well with daily charts and this is for analysis before trading.
I use this to know and to see WHEN volatility cycles are high meaning high volatility is present in the chart from price expansion or volatility increasing in the product (as it goes in cycles that can be very different from every other day) to low volatility ONLY for the daily chart to know my environmental conditions on the 3-1 minute timeframe, so I can avoid trending, breakout strategies when on low volatility (yellow and red areas) and utilize breakouts or trend strategies on high volatility environments (no color). tweak it. hope it helps!!
This is a script only to give you a holistic idea of the volatility for the last couple of hours or days. It is not a product to predict future volatility or any future volatility. Combine this with looking at how size candles have grown or decreased, order flows and speed, swings getting bigger or smaller, and checking with the VIX to gauge volatility in order to know if your strategy will work in current conditions.
works well with daily charts and this is for analysis before trading.
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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