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Volatility Oscillator For ThinkOrSwim

samer800

Moderator - Expert
VIP
Lifetime
Author states:
This tool displays relative volatility and directional trend. Excellent way to pickup diversions and reversals. Length can be lowered to 11 or 13 in settings to show price range.
Can be used to identify patterns such as parallel channels and likely direction of price action as pictured below.

SeQ0ZCR.png

Per member request:
https://usethinkscript.com/threads/trend-meter-for-thinkorswim.13179/#post-111303

CSS:
#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © veryfid
# Converted by Sam4Cok@Samer800 - 10/2022
declare lower;
#//@version=4
#study("Volatility Oscillator", resolution = "")
def na = Double.NaN;
########################################################
DefineGlobalColor("Bull", CreateColor(100, 181, 246));
DefineGlobalColor("Bear", CreateColor(239, 83, 80));
DefineGlobalColor("bullcol", Color.GREEN);
DefineGlobalColor("bearcol", Color.RED);
DefineGlobalColor("weakcol", CreateColor( 255, 235, 59));
#########################################################

input length = 100;
def c = close; def o = open; def l = low; def h = high;
def diff = c-o;
plot spike = diff;            #"Spike Linel"
spike.SetDefaultColor(Color.WHITE);
spike.SetLineWeight(2);

AddCloud (spike, 0, GlobalColor("Bull"), GlobalColor("Bull"));

def x = StDev(spike, length);
def y = StDev(spike, length) * -1;

plot p1 = x; # "Upper Line")
plot p2 = y; # "Lower Line")
p1.SetDefaultColor(GlobalColor("Bull"));
p2.SetDefaultColor(GlobalColor("Bull"));

plot ZeroLine = 0; #, color= color.gray, title= "Zero Line")
ZeroLine.SetDefaultColor(Color.GRAY);

#--- Div

input lbl = 5;
input lbr  = 5;
input rangeUpper = 60;
input rangeLower = 5;
input DivBull = yes;      # "Plot Bullish"
input DivHiddenBull = no; # "Plot Hidden Bullish"
input DivBear = yes;      # "Plot Bearish"
input DivHiddenBear = no; # "Plot Hidden Bearish"

def divSrc = spike;

script FindPivots {
    input dat = high; # default data or study being evaluated
    input HL  = 0;    # default high or low pivot designation, -1 low, +1 high
    input PF  = 1;    # default pivot forward period
    input PB  = 5;    # default pivot backward period
    ##############
    def _nan;    # used for non-number returns
    def _BN;     # the current barnumber
    def _VStop;  # confirms that the lookforward period continues the pivot trend
    def _V;      # the Value at the actual pivot point
    def _VBar;   # the bar number at the pivot point
    def _PV;     # the previous pivot Value
    def _PVBar;  # the previous pivot bar number
    def _VDiff;  # the difference in values between last two pivot points
    def _VDist;  # the diffence in barnumbers between last two pivot points
    def _VSlope; # the Slope calculated using value and distance changes
    def _VPivot; # used for the pivot point connector line only
    ##############
    _BN  = BarNumber();
    _nan = Double.NaN;
    _VStop =
        fold a = 1 to PF + 1
        with b = 1 while b
        do if HL > 0 then
            dat > GetValue(dat, -a) else
            dat < GetValue(dat, -a) ;
    if (HL > 0) {
        _V = if _BN > PB and dat == Highest(dat, PB) and _VStop
            then dat else _nan;
    } else {
        _V = if _BN > PB and dat == Lowest(dat, PB) and _VStop
            then dat else _nan;
    }
    _VBar   = if !IsNaN(_V) then _BN else _VBar[1];
    _PV     = if !IsNaN(_V) then GetValue(dat, _BN - _VBar[1]) else _PV[1];
    _PVBar  = if   _VBar != _VBar[1]
            then _PVBar[1] else _VBar;
    _VDiff  = AbsValue(_V) - AbsValue(_PV);
    _VDist  = _BN - _PVBar;
    _VSlope = if _V > _PV  then  1 else
              if _V < _PV  then -1 else 0;
    if (HL > 0) {
        _VPivot = _BN >= HighestAll(_PVBar);
    } else {
        _VPivot = _BN >= LowestAll(_PVBar);
    }
    plot result = if !IsNaN(_V) and _VStop then _V else _nan;
}
script valuewhen {
  input cond = 0;
  input pr = 0;
  input n2 = 0;
  def n = n2 + 1;
  def offset2 = fold j = 0 to 200
    with p
    while p < n + 1
    do p + ( if p == n then j - n else if GetValue(cond, j) then 1 else 0 );
  plot price = GetValue(pr, offset2-1);
}
#_inRange(cond) =>
script _inRange {
    input cond = yes;
    input rangeUpper = 60;
    input rangeLower = 5;
        def bars = if cond then 0 else bars[1] + 1;
        def inrange =  (rangeLower <= bars) and (bars <= rangeUpper);
plot retrun = inRange;
}
def ph =  findpivots(divSrc, 1, lbr, lbl);
def pl =  findpivots(divSrc, -1, lbr, lbl);

def phFound = if isNaN(ph) then 0 else 1;
def plFound = if isNaN(pl) then 0 else 1;

def vhFound = valuewhen(phFound, divSrc, 1);
def vlFound = valuewhen(plFound, divSrc, 1);

def phPrice = valuewhen(phFound, h, 1);
def plPrice = valuewhen(plFound, l, 1);

#// Regular Bullish
def oscHL = divSrc > vlFound and  _inRange(plFound[1],rangeUpper,rangeLower);
def priceLL = l < plPrice;
def bullCond = DivBull and plFound and oscHL and priceLL;
#// Hidden Bullish
def oscLL = divSrc < vlFound and  _inRange(plFound[1],rangeUpper,rangeLower);
def priceHL = l > plPrice;
def hiddenBullCond = DivHiddenBull and plFound and oscLL and priceHL;

#// Regular Bearish
def oscLH   = divSrc < vhFound and  _inRange(phFound[1],rangeUpper,rangeLower);
def priceHH = h > phPrice;
def bearCond = DivBear and phFound and oscLH and priceHH;
#// Hidden Bearish
def oscHH = divSrc > vhFound and  _inRange(phFound[1],rangeUpper,rangeLower);
def priceLH = h < phPrice;
def hiddenBearCond = DivHiddenBear and phFound and oscHH and priceLH;

addchartbubble(bullCond, divSrc, "R", color.green, no);
addchartbubble(bearCond, divSrc, "R", color.red, yes);
addchartbubble(hiddenBullCond, divSrc, "H", color.DARK_green, no);
addchartbubble(hiddenBearCond, divSrc, "H", color.DARK_red, yes);

#---- END
 
Last edited by a moderator:
Per member request:
https://usethinkscript.com/threads/trend-meter-for-thinkorswim.13179/#post-111303

CSS:
#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © veryfid
# Converted by Sam4Cok@Samer800 - 10/2022
declare lower;
#//@version=4
#study("Volatility Oscillator", resolution = "")
def na = Double.NaN;
########################################################
DefineGlobalColor("Bull", CreateColor(100, 181, 246));
DefineGlobalColor("Bear", CreateColor(239, 83, 80));
DefineGlobalColor("bullcol", Color.GREEN);
DefineGlobalColor("bearcol", Color.RED);
DefineGlobalColor("weakcol", CreateColor( 255, 235, 59));
#########################################################

input length = 100;
def c = close; def o = open; def l = low; def h = high;
def diff = c-o;
plot spike = diff;            #"Spike Linel"
spike.SetDefaultColor(Color.WHITE);
spike.SetLineWeight(2);

AddCloud (spike, 0, GlobalColor("Bull"), GlobalColor("Bull"));

def x = StDev(spike, length);
def y = StDev(spike, length) * -1;

plot p1 = x; # "Upper Line")
plot p2 = y; # "Lower Line")
p1.SetDefaultColor(GlobalColor("Bull"));
p2.SetDefaultColor(GlobalColor("Bull"));

plot ZeroLine = 0; #, color= color.gray, title= "Zero Line")
ZeroLine.SetDefaultColor(Color.GRAY);

#--- Div

input lbl = 5;
input lbr  = 5;
input rangeUpper = 60;
input rangeLower = 5;
input DivBull = yes;      # "Plot Bullish"
input DivHiddenBull = no; # "Plot Hidden Bullish"
input DivBear = yes;      # "Plot Bearish"
input DivHiddenBear = no; # "Plot Hidden Bearish"

def divSrc = spike;

script FindPivots {
    input dat = high; # default data or study being evaluated
    input HL  = 0;    # default high or low pivot designation, -1 low, +1 high
    input PF  = 1;    # default pivot forward period
    input PB  = 5;    # default pivot backward period
    ##############
    def _nan;    # used for non-number returns
    def _BN;     # the current barnumber
    def _VStop;  # confirms that the lookforward period continues the pivot trend
    def _V;      # the Value at the actual pivot point
    def _VBar;   # the bar number at the pivot point
    def _PV;     # the previous pivot Value
    def _PVBar;  # the previous pivot bar number
    def _VDiff;  # the difference in values between last two pivot points
    def _VDist;  # the diffence in barnumbers between last two pivot points
    def _VSlope; # the Slope calculated using value and distance changes
    def _VPivot; # used for the pivot point connector line only
    ##############
    _BN  = BarNumber();
    _nan = Double.NaN;
    _VStop =
        fold a = 1 to PF + 1
        with b = 1 while b
        do if HL > 0 then
            dat > GetValue(dat, -a) else
            dat < GetValue(dat, -a) ;
    if (HL > 0) {
        _V = if _BN > PB and dat == Highest(dat, PB) and _VStop
            then dat else _nan;
    } else {
        _V = if _BN > PB and dat == Lowest(dat, PB) and _VStop
            then dat else _nan;
    }
    _VBar   = if !IsNaN(_V) then _BN else _VBar[1];
    _PV     = if !IsNaN(_V) then GetValue(dat, _BN - _VBar[1]) else _PV[1];
    _PVBar  = if   _VBar != _VBar[1]
            then _PVBar[1] else _VBar;
    _VDiff  = AbsValue(_V) - AbsValue(_PV);
    _VDist  = _BN - _PVBar;
    _VSlope = if _V > _PV  then  1 else
              if _V < _PV  then -1 else 0;
    if (HL > 0) {
        _VPivot = _BN >= HighestAll(_PVBar);
    } else {
        _VPivot = _BN >= LowestAll(_PVBar);
    }
    plot result = if !IsNaN(_V) and _VStop then _V else _nan;
}
script valuewhen {
  input cond = 0;
  input pr = 0;
  input n2 = 0;
  def n = n2 + 1;
  def offset2 = fold j = 0 to 200
    with p
    while p < n + 1
    do p + ( if p == n then j - n else if GetValue(cond, j) then 1 else 0 );
  plot price = GetValue(pr, offset2-1);
}
#_inRange(cond) =>
script _inRange {
    input cond = yes;
    input rangeUpper = 60;
    input rangeLower = 5;
        def bars = if cond then 0 else bars[1] + 1;
        def inrange =  (rangeLower <= bars) and (bars <= rangeUpper);
plot retrun = inRange;
}
def ph =  findpivots(divSrc, 1, lbr, lbl);
def pl =  findpivots(divSrc, -1, lbr, lbl);

def phFound = if isNaN(ph) then 0 else 1;
def plFound = if isNaN(pl) then 0 else 1;

def vhFound = valuewhen(phFound, divSrc, 1);
def vlFound = valuewhen(plFound, divSrc, 1);

def phPrice = valuewhen(phFound, h, 1);
def plPrice = valuewhen(plFound, l, 1);

#// Regular Bullish
def oscHL = divSrc > vlFound and  _inRange(plFound[1],rangeUpper,rangeLower);
def priceLL = l < plPrice;
def bullCond = DivBull and plFound and oscHL and priceLL;
#// Hidden Bullish
def oscLL = divSrc < vlFound and  _inRange(plFound[1],rangeUpper,rangeLower);
def priceHL = l > plPrice;
def hiddenBullCond = DivHiddenBull and plFound and oscLL and priceHL;

#// Regular Bearish
def oscLH   = divSrc < vhFound and  _inRange(phFound[1],rangeUpper,rangeLower);
def priceHH = h > phPrice;
def bearCond = DivBear and phFound and oscLH and priceHH;
#// Hidden Bearish
def oscHH = divSrc > vhFound and  _inRange(phFound[1],rangeUpper,rangeLower);
def priceLH = h < phPrice;
def hiddenBearCond = DivHiddenBear and phFound and oscHH and priceLH;

addchartbubble(bullCond, divSrc, "R", color.green, no);
addchartbubble(bearCond, divSrc, "R", color.red, yes);
addchartbubble(hiddenBullCond, divSrc, "H", color.DARK_green, no);
addchartbubble(hiddenBearCond, divSrc, "H", color.DARK_red, yes);

#---- END
How would one create a scan for this?
 
How would one create a scan for this?

Add this code to the bottom of your study for bullish scans
plot FindBull = bullCond or hiddenBullCond;
FindBull.Hide();

Your scan condition is:
FindBull is true


Add this code to the bottom of your study for bearish scans
plot FindBear = bearCond or hiddenBearCond;
FindBear.Hide();

Your scan condition is:
FindBear is true


To set up scan hacker with your scan condition, follow this tutorial:
https://usethinkscript.com/threads/how-to-use-thinkorswim-stock-hacker-scans.284/

If the script is not too complex, the scan criteria will work.
 
Last edited by a moderator:
Author states:
This tool displays relative volatility and directional trend. Excellent way to pickup diversions and reversals. Length can be lowered to 11 or 13 in settings to show price range.
Can be used to identify patterns such as parallel channels and likely direction of price action as pictured below.

SeQ0ZCR.png

Per member request:
https://usethinkscript.com/threads/trend-meter-for-thinkorswim.13179/#post-111303

CSS:
#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © veryfid
# Converted by Sam4Cok@Samer800 - 10/2022
declare lower;
#//@version=4
#study("Volatility Oscillator", resolution = "")
def na = Double.NaN;
########################################################
DefineGlobalColor("Bull", CreateColor(100, 181, 246));
DefineGlobalColor("Bear", CreateColor(239, 83, 80));
DefineGlobalColor("bullcol", Color.GREEN);
DefineGlobalColor("bearcol", Color.RED);
DefineGlobalColor("weakcol", CreateColor( 255, 235, 59));
#########################################################

input length = 100;
def c = close; def o = open; def l = low; def h = high;
def diff = c-o;
plot spike = diff;            #"Spike Linel"
spike.SetDefaultColor(Color.WHITE);
spike.SetLineWeight(2);

AddCloud (spike, 0, GlobalColor("Bull"), GlobalColor("Bull"));

def x = StDev(spike, length);
def y = StDev(spike, length) * -1;

plot p1 = x; # "Upper Line")
plot p2 = y; # "Lower Line")
p1.SetDefaultColor(GlobalColor("Bull"));
p2.SetDefaultColor(GlobalColor("Bull"));

plot ZeroLine = 0; #, color= color.gray, title= "Zero Line")
ZeroLine.SetDefaultColor(Color.GRAY);

#--- Div

input lbl = 5;
input lbr  = 5;
input rangeUpper = 60;
input rangeLower = 5;
input DivBull = yes;      # "Plot Bullish"
input DivHiddenBull = no; # "Plot Hidden Bullish"
input DivBear = yes;      # "Plot Bearish"
input DivHiddenBear = no; # "Plot Hidden Bearish"

def divSrc = spike;

script FindPivots {
    input dat = high; # default data or study being evaluated
    input HL  = 0;    # default high or low pivot designation, -1 low, +1 high
    input PF  = 1;    # default pivot forward period
    input PB  = 5;    # default pivot backward period
    ##############
    def _nan;    # used for non-number returns
    def _BN;     # the current barnumber
    def _VStop;  # confirms that the lookforward period continues the pivot trend
    def _V;      # the Value at the actual pivot point
    def _VBar;   # the bar number at the pivot point
    def _PV;     # the previous pivot Value
    def _PVBar;  # the previous pivot bar number
    def _VDiff;  # the difference in values between last two pivot points
    def _VDist;  # the diffence in barnumbers between last two pivot points
    def _VSlope; # the Slope calculated using value and distance changes
    def _VPivot; # used for the pivot point connector line only
    ##############
    _BN  = BarNumber();
    _nan = Double.NaN;
    _VStop =
        fold a = 1 to PF + 1
        with b = 1 while b
        do if HL > 0 then
            dat > GetValue(dat, -a) else
            dat < GetValue(dat, -a) ;
    if (HL > 0) {
        _V = if _BN > PB and dat == Highest(dat, PB) and _VStop
            then dat else _nan;
    } else {
        _V = if _BN > PB and dat == Lowest(dat, PB) and _VStop
            then dat else _nan;
    }
    _VBar   = if !IsNaN(_V) then _BN else _VBar[1];
    _PV     = if !IsNaN(_V) then GetValue(dat, _BN - _VBar[1]) else _PV[1];
    _PVBar  = if   _VBar != _VBar[1]
            then _PVBar[1] else _VBar;
    _VDiff  = AbsValue(_V) - AbsValue(_PV);
    _VDist  = _BN - _PVBar;
    _VSlope = if _V > _PV  then  1 else
              if _V < _PV  then -1 else 0;
    if (HL > 0) {
        _VPivot = _BN >= HighestAll(_PVBar);
    } else {
        _VPivot = _BN >= LowestAll(_PVBar);
    }
    plot result = if !IsNaN(_V) and _VStop then _V else _nan;
}
script valuewhen {
  input cond = 0;
  input pr = 0;
  input n2 = 0;
  def n = n2 + 1;
  def offset2 = fold j = 0 to 200
    with p
    while p < n + 1
    do p + ( if p == n then j - n else if GetValue(cond, j) then 1 else 0 );
  plot price = GetValue(pr, offset2-1);
}
#_inRange(cond) =>
script _inRange {
    input cond = yes;
    input rangeUpper = 60;
    input rangeLower = 5;
        def bars = if cond then 0 else bars[1] + 1;
        def inrange =  (rangeLower <= bars) and (bars <= rangeUpper);
plot retrun = inRange;
}
def ph =  findpivots(divSrc, 1, lbr, lbl);
def pl =  findpivots(divSrc, -1, lbr, lbl);

def phFound = if isNaN(ph) then 0 else 1;
def plFound = if isNaN(pl) then 0 else 1;

def vhFound = valuewhen(phFound, divSrc, 1);
def vlFound = valuewhen(plFound, divSrc, 1);

def phPrice = valuewhen(phFound, h, 1);
def plPrice = valuewhen(plFound, l, 1);

#// Regular Bullish
def oscHL = divSrc > vlFound and  _inRange(plFound[1],rangeUpper,rangeLower);
def priceLL = l < plPrice;
def bullCond = DivBull and plFound and oscHL and priceLL;
#// Hidden Bullish
def oscLL = divSrc < vlFound and  _inRange(plFound[1],rangeUpper,rangeLower);
def priceHL = l > plPrice;
def hiddenBullCond = DivHiddenBull and plFound and oscLL and priceHL;

#// Regular Bearish
def oscLH   = divSrc < vhFound and  _inRange(phFound[1],rangeUpper,rangeLower);
def priceHH = h > phPrice;
def bearCond = DivBear and phFound and oscLH and priceHH;
#// Hidden Bearish
def oscHH = divSrc > vhFound and  _inRange(phFound[1],rangeUpper,rangeLower);
def priceLH = h < phPrice;
def hiddenBearCond = DivHiddenBear and phFound and oscHH and priceLH;

addchartbubble(bullCond, divSrc, "R", color.green, no);
addchartbubble(bearCond, divSrc, "R", color.red, yes);
addchartbubble(hiddenBullCond, divSrc, "H", color.DARK_green, no);
addchartbubble(hiddenBearCond, divSrc, "H", color.DARK_red, yes);

#---- END
Hi again Samer. I just set this up in a scan.

Can you take a look at the two photos to see if a "bullish spike" is correct to show a bullish type situation. The first photo is the top part of the scan input and the second photo is the bottom part of the scan input. If I have this one right, I can do the reverse for a bearish situation. Many thanks for help in many situations for your programming

I am a little bit of a neophyte at these advanced studies and scans. But I have downloaded many of them and like what I see but your experts!

I want to search for a spike where a "R" appears when the oscillator appears high or low on the chart. Here is an example. Many thanks again.
 

Attachments

  • Volatilty Oscillator Top part.jpg
    Volatilty Oscillator Top part.jpg
    373 KB · Views: 25
  • Volatility Oscillator bottom part.jpg
    Volatility Oscillator bottom part.jpg
    390.1 KB · Views: 36
  • Vol Chart with R top or bottom.jpg
    Vol Chart with R top or bottom.jpg
    183.6 KB · Views: 33
Last edited by a moderator:
Hi again Samer. I just set this up in a scan.

Can you take a look at the two photos to see if a "bullish spike" is correct to show a bullish type situation. The first photo is the top part of the scan input and the second photo is the bottom part of the scan input. If I have this one right, I can do the reverse for a bearish situation. Many thanks for help in many situations for your programming

I am a little bit of a neophyte at these advanced studies and scans. But I have downloaded many of them and like what I see but your experts!

I want to search for a spike where a "R" appears when the oscillator appears high or low on the chart. Here is an example. Many thanks again.


Add this code to the bottom of your study for scans where a "R" appears when the oscillator appears high or low on the chart.
plot FindR = bullCond or bearCond;
FindR.Hide();

Your scan condition is:
FindR is true
 

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