OPEN-SOURCE SCRIPT
Relative Volatility Measure (RVM) daily chart
I use this to know when volatility cycles are high or low on the daily chart to know my conditions on the 1 minute timeframe, so I can avoid trending strategies when on low volatility (yellow and red areas) and play breakouts or trends on high volatility environments (no color). tweak it. hope it helps!!
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.
Want to use this script 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.