CBOE Implied Volatility Indicator for ThinkorSwim

rlohmeyer

Member
I coded 3 CBOE Implied Volatility Indicators that I watch on SPY,QQQ,DIA, which I swing trade on the daily. The IWM I like to day trade on the 1 minute time frame as a result of it's higher daily bar ranges. Each are coded as an inverse indicator on a 0-100 normalized scale, so that near 0 is HIGHER VOLATILITY and generally a down move on the indices. I watch for divergences with price action and the other indicators I have posted. Image of the 3 below. I have these loaded in the same lower window as another set of Normalized Scale Indicators. Code for the VIX is below the image. The way to get the other 2 is to substitute either VXN or VXD in the code at the appropriate place. May interest someone for the bigger time frame. PS: I am out of a swing trade since 3/5. Suspicious of the divergence. It may break higher, but rather be safe after a nice swing.

oVLHI0F.jpg


Code:
declare lower;
script normalizePlot {
    input normalize_data = close;
    input MinRng = -1;
    input MaxRng = 1;
    def HH = HighestAll( normalize_data );
    def LL = LowestAll( normalize_data );
    plot NR = ((( MaxRng - MinRng ) * ( normalize_data - LL )) / ( HH - LL )) + MinRng;
}

input MaxRng = 100;
input MinRng = 0;

def ind = (close("vix") * -1);
plot vix = normalizePlot(ind, MinRng, MaxRng );
vix.setDefaultColor(color.white);
vix.setlineWeight(2);
vix.hidebubble();

plot mid = (maxrng+minrng)/2;
mid.setdefaultColor(color.white);
mid.hidebubble();
mid.hidetitle();
 

RDX17

New member
VIP
I coded 3 CBOE Implied Volatility Indicators that I watch on SPY,QQQ,DIA, which I swing trade on the daily. The IWM I like to day trade on the 1 minute time frame as a result of it's higher daily bar ranges. Each are coded as an inverse indicator on a 0-100 normalized scale, so that near 0 is HIGHER VOLATILITY and generally a down move on the indices. I watch for divergences with price action and the other indicators I have posted. Image of the 3 below. I have these loaded in the same lower window as another set of Normalized Scale Indicators. Code for the VIX is below the image. The way to get the other 2 is to substitute either VXN or VXD in the code at the appropriate place. May interest someone for the bigger time frame. PS: I am out of a swing trade since 3/5. Suspicious of the divergence. It may break higher, but rather be safe after a nice swing.

oVLHI0F.jpg


Code:
declare lower;
script normalizePlot {
    input normalize_data = close;
    input MinRng = -1;
    input MaxRng = 1;
    def HH = HighestAll( normalize_data );
    def LL = LowestAll( normalize_data );
    plot NR = ((( MaxRng - MinRng ) * ( normalize_data - LL )) / ( HH - LL )) + MinRng;
}

input MaxRng = 100;
input MinRng = 0;

def ind = (close("vix") * -1);
plot vix = normalizePlot(ind, MinRng, MaxRng );
vix.setDefaultColor(color.white);
vix.setlineWeight(2);
vix.hidebubble();

plot mid = (maxrng+minrng)/2;
mid.setdefaultColor(color.white);
mid.hidebubble();
mid.hidetitle();
Hi, would you mind sharing a link to the code. I am not sure if this is the full code to the lower indicator as is represented in the pic
 

RDX17

New member
VIP
Hi, would you mind sharing a link to the code. I am not sure if this is the full code to the lower indicator as is represented in the pic
I trade NQ futures and would like to see how this indicator can be of use..appreciate ur help
 

Similar threads

Top