Damiani Volameter

[hawkfan]

Has anyone used this study before? I am having troubles finding it for Thinkorswim so I'm wondering if anyone has any suggestions on an alternative volatility indicator to help stay away from ranging markets?

 

[rad14733]

@hawkfan Welcome to the usethinkscript forums... Do you have any information regarding this indicator by chance...??? Any information helps, such as web links, images, a brief description, or anything else you can come up with... It's up to you to help us help you, not fr us to do extensive research for you and simply hand you answers... Give us something to go on other than just a name...

Have you used the search feature in the upper right corner of every page...??? We have volatility scripts as well as scripts to identify ranging markets... Again, we shouldn't be expected to do your research for you... I understand that you are new here but the information is here for you to find, not for us to find for you...

Good luck and good trading...

 

[hawkfan]

Thanks for the reply. I can post the Trading View/ MetraTrader code if that is ok. I have looked through the volatility section and searched the forums for this and didn't see it. I was kind of surprised as I believe it is fairly popular indicator but admittedly I am new so I will look through the volatility section to see if there is anything else that will suite my needs.

thanks

 

[rad14733]

@hawkfan Just post a link to where we can see what the indicator looks like... No need cluttering the forums with code that probably won't get converted... If it's there and someone wants to convert it then they can get it from the original source... But only a VERY small percentage of indicators get converted upon request... But seeing what the indicator looks like might jar someones memory regarding an indicator here...

 

[hawkfan]

Sounds good - thanks. Here are a few links:

https://www.tradingview.com/script/rYWBBk3a-RS-Damiani-Volatmeter-V0/ (trading view)
https://www.forexmt4indicators.com/damiani_volatmeter-indicator-for-metatrader-4/ (MT4)

 

[mashume]

eh, it looked interesting.
I found a few different versions around the web.
here's the first (trading view) version you listed. The MT4 version has some loops in it that I would rather not program.
Can you tell me what this is supposed to show and the theory, or why you're interested in it?

happy trading.
-mashume

# https://www.tradingview.com/script/rYWBBk3a-RS-Damiani-Volatmeter-V0/
# Converted to ThinkOrSwim
# Mashume at usethinkscript
# 2021-04-28
# by request

declare lower;

input vis_atr = 13;
input vis_std = 20;
input sed_atr = 40;
input sed_std = 100;
input threshold_level = 1.4;

input lag_supressor = no;
def lag_s_k = 0.5;

def s1 = if !IsNaN(volume[1]) then volume[1] else 0;
def s3 = if !IsNaN(volume[3]) then volume[3] else 0;

def vol = if lag_supressor == yes then ATR(vis_atr) / ATR(sed_atr) + lag_s_k * (s1 - s3) else ATR(vis_atr) / ATR(sed_atr);
def anti_thres = StDev(close, vis_std) / StDev(close, sed_std);
def delta_t = threshold_level - anti_thres;
def vol_m = if vol > delta_t then -1 else 0.03;

plot V = vol;
plot A = delta_t;
plot T = vol_m;

 

[hawkfan]

Mashume,

thank you so much for converting this. The indicator is supposed to help determine when the underlying is trending vs ranging. It's meant to be a filter so that when "A" crosses below "V" it signals the start of a trending phase. (out of a ranging phase).

I was hoping to use it as a filter to determine when it is best time to trade (and when not to) as I prefer to trade with the trend. I am trying to identify some good confirmation indicators to pair it with to help with trade entry - BigTen's TMO looks really good. Thanks again for converting this for me - this forum is awesome. I'm going to back test it on a few strategies to see if it helps. I have seen others recommend WAE but I haven't had a lot of luck when backtesting it.