OPEN-SOURCE SCRIPT
Coefficient of Variation [DW]
This is a simple gauge of volatility using the Coefficient of Variation.
COV is calculated by dividing standard deviation of price by the expected (average) price.
Custom color scheme indicates increases and decreases in volatility, which is indicated when the COV forms new half period highs and lows.
COV is calculated by dividing standard deviation of price by the expected (average) price.
Custom color scheme indicates increases and decreases in volatility, which is indicated when the COV forms new half period highs and lows.
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wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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