Price Percent Volatility Range Box Indicator

[xXTheEpicOneXx]

I trade credit spreads on SPX and currently use the Volatility Trading Range study found here. This indicator is great for knowing the weekly range of SPY and allows me to place my credit spreads outside of those ranges to scalp the premium.

This is one of the few rare times this study has been wrong. The move to the downside went outside of the expected range.

That indicator uses the ATR (Average True Range) to calculate where those levels will be. I'm looking for something that does it based on percentage moves.

For example, .5% Above and below price, 1% above and below price, 2% above a below price. Vertical lines that show on the chart where these levels are on a daily time frame.

Anyone know of an study like that for charts?

 

[Clata54]

I am looking for something similar, were you ever able to find anything @xXTheEpicOneXx ?

 

[MerryDay]

@Clata54 the newest Volatility Range indicators is in the VIP section:
https://usethinkscript.com/forums/volatility-trading-range.35/

 

[Clata54]

Thanks @MerryDay ! I do have the newest Volatility Range Indicator and it's awesome, I was referring to the second chart @xXTheEpicOneXx posted (the one that marks percentage moves. For example, .5% Above and below price, 1% above and below price, 2% above a below price. Vertical lines that show on the chart where these levels are on a daily time frame)

 

[ApeX Predator]

@xXTheEpicOneXx and @Clata54 Have you all checked out Automatic Quadrant Lines by @chewie76 ?
https://usethinkscript.com/threads/automatic-quadrant-lines-for-thinkorswim.7718/

there are also Auto Fib Long/Short separate scripts.

 

[xXTheEpicOneXx]

Thanks @MerryDay ! I do have the newest Volatility Range Indicator and it's awesome, I was referring to the second chart @xXTheEpicOneXx posted (the one that marks percentage moves. For example, .5% Above and below price, 1% above and below price, 2% above a below price. Vertical lines that show on the chart where these levels are on a daily time frame)

I got you. Credit to Brian Watt for sharing it with me. He's my source. Twitter: @realbriantwatt_ (Mr Yen)

http://tos.mx/Ba6iYu1

# This script draws levels based on percentage off high high on the chart.
# Mostly to be used on daily charts, but can below used on any other chart
# Brian Watt's brain child.

input percentOffset1 = 1;
input percentOffset2 = 2;
input percentOffset3 = 3;
input percentOffset4 = 5;
input percentOffset5 = 8;
input userDefinedHigh = 0;
input overideChartHigh = no;
input disableBubbles = no;

def highestHigh =  if overideChartHigh then userDefinedHigh else highestAll(high);

plot hh =  highestHigh;
hh.setDefaultColor(Color.white);
hh.setPaintingStrategy(PaintingStrategy.LINE);

def bubbleOffset = if high != highestAll(high) then bubbleOffset[1]+1 else bubbleOffset[1];

#addChartBubble(highestHigh == high, high, "HH", Color.white);

plot hhOffset1 = highestHigh * (1- percentOffset1/100);
hhoffset1.setDefaultColor(Color.Green);
hhOffset1.setPaintingStrategy(PaintingStrategy.LINE);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffset1, percentOffset1 + "%", Color.yellow);

plot hhOffsetUp1 = highestHigh * (1+ percentOffset1/100);
hhoffsetUp1.setDefaultColor(Color.yellow);
hhOffsetUp1.setPaintingStrategy(PaintingStrategy.LINE);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffsetUp1, percentOffset1 + "%", Color.yellow);

plot hhOffset2 = highestHigh * (1- percentOffset2/100);
hhoffset2.setDefaultColor(Color.Light_Green);
hhOffset2.setPaintingStrategy(PaintingStrategy.LINE);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffset2, percentOffset2 + "%", Color.yellow);

plot hhOffsetUp2 = highestHigh * (1+ percentOffset2/100);
hhoffsetUp2.setDefaultColor(Color.Light_Green);
hhOffsetUp2.setPaintingStrategy(PaintingStrategy.LINE);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffsetUp2, percentOffset2 + "%", Color.yellow);

plot hhOffset3 = highestHigh * (1- percentOffset3/100);
hhoffset3.setDefaultColor(Color.Yellow);
hhOffset3.setPaintingStrategy(PaintingStrategy.Line);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffset3, percentOffset3 + "%", Color.Yellow);

plot hhOffsetUp3 = highestHigh * (1+ percentOffset3/100);
hhoffsetUp3.setDefaultColor(Color.Yellow);
hhOffsetUp3.setPaintingStrategy(PaintingStrategy.Line);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffsetUp3, percentOffset3 + "%", Color.Yellow);

plot hhOffset4 = highestHigh * (1- percentOffset4/100);
hhoffset4.setDefaultColor(Color.Orange);
hhOffset4.setPaintingStrategy(PaintingStrategy.Line);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffset4, percentOffset4 + "%", Color.Orange);

plot hhOffsetUp4 = highestHigh * (1+ percentOffset4/100);
hhoffsetUp4.setDefaultColor(Color.Orange);
hhOffsetUp4.setPaintingStrategy(PaintingStrategy.Line);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffsetUp4, percentOffset4 + "%", Color.Orange);

plot hhOffset5 = highestHigh * (1- percentOffset5/100);
hhoffset5.setDefaultColor(Color.green);
hhOffset5.setPaintingStrategy(PaintingStrategy.LINE);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffset5, percentOffset5 + "%", Color.yellow);

plot hhOffsetUp5 = highestHigh * (1+ percentOffset5/100);
hhoffsetUp5.setDefaultColor(Color.green);
hhOffsetUp5.setPaintingStrategy(PaintingStrategy.LINE);
addChartBubble(!disableBubbles and bubbleOffset == bubbleoffset[1] ,hhOffsetUp5, percentOffset5 + "%", Color.yellow);