OPEN-SOURCE SCRIPT
Updated Ladder StDev
This indicator shows the upwards (green) and downward (red) volatility of the market. It is a standard deviation of the price but with a twist! For the upwards volatility , only the green candles are taken into account, and for the downwards only the red candles are.
Compared to my previous "Ladder ATR" indicator this a different approach to measure the the upwards and downwards volatility of the market by utilizing the standard deviation instead of the ATR. When both measure the volatility they have different "dynamics". Standard deviation increases the weight of larger values over smaller values. The ATR indicator is based on the average of absolute changes. So, if we apply the indicators on a daily chart , ATR considers intraday and between-day data, while the standard deviation calculation includes only daily returns (source price).
Compared to my previous "Ladder ATR" indicator this a different approach to measure the the upwards and downwards volatility of the market by utilizing the standard deviation instead of the ATR. When both measure the volatility they have different "dynamics". Standard deviation increases the weight of larger values over smaller values. The ATR indicator is based on the average of absolute changes. So, if we apply the indicators on a daily chart , ATR considers intraday and between-day data, while the standard deviation calculation includes only daily returns (source price).
Release Notes
- Added RETURN mode that calculate the standard deviation of the log returns.
Many thanks to lejmer for his idea of log return mode and for pointing out to me the (un)biased variable option in the standard deviation calculations.
Release Notes
- Use serries to get the positive and negative stdev values
- Use enum
Release Notes
- Update to pinescript version 6
Open-source script
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.
📧 Contact info
Telegram: @jason5480
🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7
* Please contact me before any donation ☕
Telegram: @jason5480
🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7
* Please contact me before any donation ☕
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
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.
📧 Contact info
Telegram: @jason5480
🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7
* Please contact me before any donation ☕
Telegram: @jason5480
🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7
* Please contact me before any donation ☕
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.