This strategy combines Larry Williams' Vix Fix synthetic volatility indicator with Bollinger Bands. It calculates standard and inverted Williams Vix Fix metrics, displaying them as histogram columns with standard deviation bands in a separate pane. Long entrie
Strategy · Pine Script v5 · Own pane
Relative Volatility Index
Relative Volatility Index is a Pine v5 strategy that calculates a relative volatility index and draws Bollinger Bands, with a basis line and fill, in a separate pane with reference lines at 20 and 80.
Archived by its author
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code39
Settings4inputs
LicenceNone stated
Last update4 years ago14 Aug 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
The index line itself is commented out of the plots. It goes long when the index is low and price is under a lower inner level, and short when the index is high and price is above an upper inner level. It has no stop loss or exit rules.
- Relative volatility index calculation
- Bollinger Bands with fill
- Long and short entries on index and band conditions
- Adjustable band length and deviation
Details
Published by
juliencrn on GitHub
Type
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
data-analysisjupyter-notebookmatplotlibpandaspinescriptpythontrading-strategiestrading-bottradingbot
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| length | int | 10 | length |
| Offset | int | 0 | offset |
| length_bb | int | 20 | length_bb |
| StdDev | float | 2.0 | mult |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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