CandleStick Volatility (CV)
Description
Candlestick charts provide valuable insights into price movements, and the size of individual candlesticks plays a crucial role in assessing market volatility. By analyzing candlestick sizes, traders can gauge the intensity of price fluctuations. Additionally, the indicator displays each candle’s size as a percentage, allowing for easy comparison with other candles.
How It Works
The volatility for each candle is measured as the difference between the high and low prices. The resulting value is expressed as a percentage.
Formula
if (Close > Open)
{
return ((High - Low) / Low) * 100.0;
}
return ((Low - High) / High) * 100.0;
Chart Settings
* For common indicator properties please see Common Indicator Settings
"Define color for bearish and bullish bars"
"Bearish Color"
"Bullish Color"
Chart View
Last modified: 24 September 2024