EXPERIMENTAL:
Measures the volatility range of current price range, can help detect squeezes as well explosive moves
Measures the volatility range of current price range, can help detect squeezes as well explosive moves
//@version=2 study(title='[RS]Volatility Explosive Measure V0') f_bullish_sequence()=> _output = 0 _range = close - open _doji = _range == 0 _up_bar = _range > 0 or _doji and _range[1] > 0 _counter = barssince(not _up_bar) if (_up_bar) for _i = 0 to max(0, _counter - 1) _output := _output + _range[_i] _output f_bearish_sequence()=> _output = 0 _range = close - open _doji = _range == 0 _up_bar = _range < 0 or _doji and _range[1] < 0 _counter = barssince(not _up_bar) if (_up_bar) for _i = 0 to max(0, _counter - 1) _output := _output + _range[_i] _output bull_seq = f_bullish_sequence() bear_seq = f_bearish_sequence() length = input(10) bull_ma = ema(bull_seq, length) bear_ma = ema(bear_seq, length) width = bull_ma - bear_ma plot(width, color=color(black, 0), style=area) // plot(bull_seq, color=color(lime, 0), style=columns) // plot(bear_seq, color=color(red, 0), style=columns) // plot(bull_ma, color=color(purple, 25), style=area) // plot(bear_ma, color=color(purple, 25), style=area)