Hello,
According to TOS, the inertia plot is the linear regression curve of the Relative Volatility Index (RVI) using the least-square approximation method. TOS plots it as a lower study, but I have seen the code that plots it on an intraday chart.
According to TOS, RVI measures the direction of volatility on a scale from 0 to 100, it is also plotted as a lower indicator.
But I've seen the code that plots inertia on an intraday chart, not as a lower study. Specifically, here is a code: Specifically, here is the code: plot pp = Inertia(hl2(period = AggregationPeriod.DAY)[offset], 252);
Question: Would somebody please explain in plain English what that piece of code does?
Thank you.
According to TOS, the inertia plot is the linear regression curve of the Relative Volatility Index (RVI) using the least-square approximation method. TOS plots it as a lower study, but I have seen the code that plots it on an intraday chart.
According to TOS, RVI measures the direction of volatility on a scale from 0 to 100, it is also plotted as a lower indicator.
But I've seen the code that plots inertia on an intraday chart, not as a lower study. Specifically, here is a code: Specifically, here is the code: plot pp = Inertia(hl2(period = AggregationPeriod.DAY)[offset], 252);
Question: Would somebody please explain in plain English what that piece of code does?
Thank you.