check out the below.
#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © ChrisD_Macro https://www.pollinatetrading.com
#// FX variation done by John D
#study(title="SQN-ChrisD-Fallible", shorttitle="SQN-ChrisD-Fallible", overlay = false)
# Converted by Sam4COK@Samer800 - 12/2022
declare lower;
input BarColor = yes;
input Period = 100;
input MovAvgType = AverageType.SIMPLE;
def close_difference = close/close[1]-1;
def Stdev = stdev(close_difference,Period);
def _sma = MovingAverage(MovAvgType,close_difference,Period);
def SQN = ((_sma*sqrt(Period))/Stdev);
def c = if (SQN<-1.7) then -2 else
if (SQN>=-1.7 and SQN<-0.6) then -1 else
if (SQN>=-0.6 and SQN<=0.6) then 0 else
if (SQN>0.6 and SQN<=1.7) then 1 else
if (SQN>1.7) then 2 else 3;
plot SQNplot = SQN;
SQNplot.SetLineWeight(3);
SQNplot.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
SQNplot.AssignValueColor(if c==-2 then Color.RED else
if c==-1 then Color.DARK_RED else
if c==0 then Color.YELLOW else
if c==1 then Color.DARK_GREEN else
if c==2 then Color.GREEN else Color.GRAY);
plot SQNline = SQN;
SQNline.SetLineWeight(2);
SQNline.AssignValueColor(if c==-2 then Color.RED else
if c==-1 then Color.DARK_RED else
if c==0 then Color.YELLOW else
if c==1 then Color.DARK_GREEN else
if c==2 then Color.GREEN else Color.GRAY);
AssignPriceColor(if !BarColor then Color.CURRENT else
if c==-2 then Color.RED else
if c==-1 then Color.DARK_RED else
if c==0 then Color.YELLOW else
if c==1 then Color.DARK_GREEN else
if c==2 then Color.GREEN else Color.GRAY);
#--- END CODE@samer800 thank you so much!
Here is another code for SQN that works. If you are still interested in using it. After you load this indicator you can go into settings and adjust the colors you want.
declare lower;
input Symbol = {default "SPY","NYA","DJIA","COMP","RUT"};
plot VeryBullish = 1.47;
VeryBullish.setDefaultColor(color.Green);
VeryBullish.setLineWeight(2);
plot Bullish = 0.75;
Bullish.setDefaultColor(color.Dark_Green);
Bullish.setLineWeight(1);
plot Neutral= 0.00;
Neutral.setStyle(Curve.SHORT_DASH);
Neutral.setDefaultColor(color.Yellow);
Neutral.setLineWeight(1);
plot Bearish =- 0.7;
Bearish.setDefaultColor(color.Dark_Red);
Bearish.setLineWeight(1);
plot VeryBearish = -1.47;
VeryBearish.setDefaultColor(color.Red);
VeryBearish.setLineWeight(2);
AddCloud(2,1.47,color.green);
AddCloud(1.47,.74,color.dark_green);
AddCloud(0.75,-0.7,color.yellow);
AddCloud(-.7,-1.47,color.dark_red);
AddCloud(-2,-1.47,color.red);
def DailyPercencChange =( close(Symbol)[100] / close(Symbol));
plot DPC = DailyPercencChange;
AddLabel(yes,"Market SQN for "+(Symbol)+" "+ DPC ,color.cyan);
AddLabel(yes,if DPC >= 1.47 then "Very Bullish" else if DPC < 1.47 and DPC >= 0.75 then "Bullish" else if DPC < 0.74 and DPC >=-0.7 then "Neutral" else if DPC < -0.7 and DPC >= -1.47 then "Bearish" else "Very Bearish",if DPC >= 1.47 then color.green else if DPC < 1.47 and DPC >= 0.75 then color.dark_green else if DPC < 0.74 and DPC >=-0.7 then color.yellow else if DPC < -0.7 and DPC >= -1.47 then color.dark_red else color.red);
Wondering how volatility is measured in this formula, as Van Tharp's SQN analysis has it as a separate 20-day ATR as a percent change? Do you use the % change from the SMA? Thanks! Your coding expertise is very much appreciated.
I believe the above script does not provide a %. Instead, try something like this...
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