OPEN-SOURCE SCRIPT

Atualizado

Relative Candle Volatility Index

I am not certain if something similar is already available out there. However, here's my own implementation of my simple idea of using the length of the candle-body, or wicks (high-low), to derive a Relative Volatility Index / Oscillator.
In summary: When the R.CVI is significantly positive, it indicates a sudden increase in volatility; whereas, when the R.CVI drops significantly negative, it indicates a sudden decrease in volatility -- in relative to the (just prior) market trend.

If you do wish to copy, modify, and publish an alternate version base on this script, please do not plagiarize and kindly reference/link back to this original script. =D

~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~

Note:
In no way is this intended as a financial/investment/trading advice. You are responsible for your own investment decisions and trades.
Please exercise your own judgement for your own trades base on your own risk-aversion level and goals as an investor or a trader. The use of OTHER indicators and analysis in conjunction (tailored to your own style of investing/trading) will help improve confidence of your analysis, for you to determine your own trade decisions.

~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~

Please check out my other indicators sets and series, e.g.

LIVIDITIUM (dynamic levels),
AEONDRIFT (multi-levels standard deviation bands),
FUSIONGAPS (MA based oscillators),
MAJESTIC (Momentum/Acceleration/Jerk Oscillators),
PRISM (pSAR based oscillator, with RSI/StochRSI as well as Momentum/Acceleration/Jerk indicators),
PDF (parabolic SAR /w HighLow Trends Indicator/Bar-color-marking + Dynamic Fib Retrace and Extension Level)
and more to come.

Constructive feedback and suggestions are welcome.

~JuniAiko
(=^~^=)v~

Notas de Lançamento

Adjusted colors for better contrast, and updated titles.

Notas de Lançamento

Enable/Disable bar-coloring based on RCVI-state.

QUICK GUIDE:

Notas de Lançamento

See also Relative Candle Volatility & Directionality Index -- an enhanced (closed-source) implementation of the Relative Candle Volatility Index (RCVI), with a Relative Candles Directionality Index (RCDI) added.

Notas de Lançamento

Introduced a RCVI-softening factor.

Notas de Lançamento

Added script header.

Notas de Lançamento

Updated script header.

Notas de Lançamento

Plot titles are now made more descriptive to make it easier to define Alerts.

Conditions base on the RCVI were implemented in my Strategies, which have substantially boosted their profitability, viz.:

Increasing trading activities when RCVI is above the upper threshold.
Stop all trading activities when RCVI is below the lower threshold.

See also:
AEONDRIFT-K

Notas de Lançamento

Allow user to choose if they wish to enable/disable clipping of RCVI between 1 and -1.

Notas de Lançamento

Introduced RCVI % rescaling.

Script de código aberto

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

cybernetwork

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.

Script de código aberto

For quick access on a chart, add this script to your favorites — learn more here.

cybernetwork