Jack Schwagers Volatility Ratio For ThinkOrSwim

drasp

Member
Jack Schwagers Volatility Ratio For ThinkOrSwim
https://www.investopedia.com/terms/v/volatility-ratio.asp

I don't know if anybody is familiar with Jack Schwagers volatility ratio
This indicator apparently helps find the end of trends and whatnot.

What I'm wondering is if anybody has run into something like this indicator and if anybody can share the script?

I'm basically trying to create a column for my watchlist scan to find what is volatile, among futures, so that I can daytrade them.

Or maybe anybody has any suggestions as to what I can try out in order to find the most volatile future contract to daytrade?

possibly point me in the direction to convert the tradingview code into thinkscript?
 
Last edited by a moderator:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Jack Schwagers Volatility Ratio For ThinkOrSwim
Volatility Ratio Lower:

Ruby:
declare lower;

input length = 14;
input signal = .6;

def truehigh = Max(high, close[1]);
def truelow = Min(low, close[1]);
def TTR = truehigh - truelow;
def ATR = MovingAverage(averagetype.WILDERS, TTR, length);

plot VR = TTR / ATR;
VR.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
VR.AssignValueColor(if VR >= signal then Color.GREEN else Color.LIGHT_RED);

plot zeroline = 0;
zeroline.SetDefaultColor(Color.GRAY);
plot sigline = signal;
sigline.SetDefaultColor(Color.LIME);
plot widerangeline = 2;
widerangeline.SetDefaultColor(Color.CYAN);

Watchlist Column:
Ruby:
input length = 14;
input signal = .6;

def truehigh = Max(high, close[1]);
def truelow = Min(low, close[1]);
def TTR = truehigh - truelow;
def ATR = MovingAverage(averagetype.WILDERS, TTR, length);

plot VR = TTR / ATR;
VR.AssignValueColor(if VR >= signal then Color.LIGHT_GREEN else Color.LIGHT_RED);

#AssignBackgroundColor(if VR >= signal then Color.LIGHT_GREEN else Color.LIGHT_RED);
 
Last edited by a moderator:
Jack Schwagers Volatility Ratio For ThinkOrSwim
Volatility Ratio Lower:

Ruby:
declare lower;

input length = 14;
input signal = .6;

def truehigh = Max(high, close[1]);
def truelow = Min(low, close[1]);
def TTR = truehigh - truelow;
def ATR = MovingAverage(averagetype.WILDERS, TTR, length);

plot VR = TTR / ATR;
VR.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
VR.AssignValueColor(if VR >= signal then Color.GREEN else Color.LIGHT_RED);

plot zeroline = 0;
zeroline.SetDefaultColor(Color.GRAY);
plot sigline = signal;
sigline.SetDefaultColor(Color.LIME);
plot widerangeline = 2;
widerangeline.SetDefaultColor(Color.CYAN);

Watchlist Column:
Ruby:
input length = 14;
input signal = .6;

def truehigh = Max(high, close[1]);
def truelow = Min(low, close[1]);
def TTR = truehigh - truelow;
def ATR = MovingAverage(averagetype.WILDERS, TTR, length);

plot VR = TTR / ATR;
VR.AssignValueColor(if VR >= signal then Color.LIGHT_GREEN else Color.LIGHT_RED);

#AssignBackgroundColor(if VR >= signal then Color.LIGHT_GREEN else Color.LIGHT_RED);
This is absolutely beautiful thank you so much for this!


How to use:

Swing traders: when the ratio hits greater than 2 that means its either the end of a trend, or the beginning of a trend. Its basically a breakout/breakdown indicator.

Daytraders: I will be using it as a filter for my scans. The higher the number the larger the range. The larger the range the bigger the gainz (and losses).


%change has been the column that I've been using to replace it, this works good too.
The Volatility Ratio would be preferred because there is a history attached to the large range day.
This is a subtly underrated indicator, and can be a great scan to find big days for equities too. It includes gaps and large range days.

SCAN: http://tos.mx/A3myrvf
 
Last edited:

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
379 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top