The "Volatility Filter" script is designed to measure market volatility across two different timeframes and determine whether the market is flat or trending.
It uses custom-tuned versions of four different indicators to measure volatility and distinguish between trending and ranging conditions.
The selected indicators are:
1 - Average Directional Index (ADX)...
Welcoming everyone to a simple Indicator. I have used the volume of a stock to establish how commited the market for that particular ticker is when it comes to a direction.
The idea behind the indicator is how much of commitment there is towards a move.
*** This indicator is non directional*** ie., It just measures the commitment behind a move.
Why is it...