Editors' picksOPEN-SOURCE SCRIPTRevolution Volatility Bands With Range Contraction Signal VII
Also one of my favorite indicators. Very simple and easy to use. Essentially volatility bands with a technical analysis pattern, the triangle/wedge, which I have called "contraction signal". Put simply: When price is written in blue, volatility overall is falling. When the outer bands start to fatten up in blue, a contraction signal is forming. Works with any length of your choosing.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.