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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:
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:

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