OPEN-SOURCE SCRIPT

Volatility Switch Indicator [LazyBear]

The Volatility Switch (VOLSWITCH) indicator, by Ron McEwan, estimates current volatility in respect to historical data, thus indicating whether the market is trending or in mean reversion mode. Range is normalized to 0 - 1.

When Volatility Switch rises above the 0.5 level, volatility in the market is increasing, thus the price action can be expected to become choppier with abrupt moves. When the indicator falls below the 0.5 level from recent high readings, volatility decreases, which may be considered a sign of trend formation.

Trading strategy as suggested by Ron McEwan is:
- If VOLSWITCH is less than 0.5, volatility decreases, which may be considered a sign of trend formation
- If VOLSWITCH is greater than 0.5, market is in high volatility mode. Can be choppy. Use RSI to look for OB/OS levels.

I have implemented support for 2 lengths (14 and 21) Note that, Pine doesn't support loops. Once it is introduced, I will publish an updated version.

Building a strategy out of this is straightforward (refer to my strategy explanation above), I strongly encourage new Pinescript coders to try to a plotarrow() based overlay indicator to get more familiar with Pine.

More info:
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The Volatility (Regime) Switch Indicator [S&C Feb 2013]: traders.com/Documentation/FEEDbk_docs/2013/02/McEwan.html

Complete list of my indicators:
-------------------------------------
docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
customindicatorslazybearOscillatorsVolatility

Skrip sumber terbuka

Dalam semangat sebenar TradingView, penulis telah menerbitkan kod Pine ini sebagai sumber terbuka supaya pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda boleh menggunakan perpustakaan ini secara percuma, tetapi penggunaan semula kod dalam penerbitan ini adalah dikawal oleh Peraturan dalaman. Anda boleh menyukainya untuk menggunakannya pada carta.

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List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
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