The Volatility function measures the market volatility by plotting a
smoothed average of the True Range. It returns an average of the TrueRange
over a specific number of bars, giving higher weight to the TrueRange of
the most recent bar.
smoothed average of the True Range. It returns an average of the TrueRange
over a specific number of bars, giving higher weight to the TrueRange of
the most recent bar.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 29/05/2014 // The Volatility function measures the market volatility by plotting a // smoothed average of the True Range. It returns an average of the TrueRange // over a specific number of bars, giving higher weight to the TrueRange of // the most recent bar. //////////////////////////////////////////////////////////// study(title="Volatility", shorttitle="Volatility") Length = input(10, minval=1) xATR = atr(Length) nRes = ((Length - 1) * nz(nRes[1], 0) + xATR) / Length plot(nRes, color=blue, title="Volatility")
