This indicator calculates the distribution of close-to-close percentage changes using rate of change on closing prices. It bins percentage changes into intervals of 0.25 percent increments from negative to positive values and plots a normalized cumulative hist
Indicator · Pine Script v6 · Own pane
Spread Analysis
An indicator that measures the candle spread, optionally as a percentage, and compares it with its own moving average to classify volatility as compression, normal, moderate, high or extreme using adjustable multipliers.
GitHub stars1on the repository
Pine versionv6current
Lines of code529
Settings40inputs
LicenceNone stated
Last update11 months ago25 Nov 2025
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 indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
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
Output can be shown as columns, histogram, line, area, circles or crosses, coloured by threshold, by bull or bear direction, or uniformly. Optional band lines, zone fills, a mean line and bull and bear markers are available, and spread zones can be projected onto the price chart. It draws in a separate pane.
- Spread versus average volatility classification
- Six chart styles and three colour modes
- Threshold bands and mean line
- Bull and bear markers
Details
Published by
Blendoxius on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show Spread as % | bool | true | showPercentage |
| Normal Multiplier | float | 1.1 | normalRange |
| High Volatility Multiplier | float | 2.0 | highVola |
| Extreme Volatility Multiplier | float | 4.0 | extremeVola |
| Chart Style | string | Columns | chartStyle |
| Color Mode | string | Threshold | colorMode |
| Bullish Color | color | color. green | bullColor |
| Bearish Color | color | color.red | bearColor |
| Uniform Color | color | color.gray | uniformColor |
| Compression Color | color | color.blue | colorCompression |
| Normal Color | color | color.green | colorNormal |
| Moderate Color | color | color.yellow | colorModerate |
Show all 40 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| High Color | color | color. red | colorHigh |
| Extreme Color | color | color.fuchsia | colorExtreme |
| Extreme Band | bool | true | showExtremeBand |
| Normal Band | bool | true | showNormalBand |
| Compression Band | bool | true | showCompressionBand |
| Band Transparency | int | 70 | bandTransparency |
| Band Line Width | int | 1 | bandLineWidth |
| Show Zone Fills | bool | false | showZoneFills |
| Show Mean Line | bool | true | showMeanLine |
| Color | color | color.black | meanColor |
| Width | int | 2 | meanLinewidth |
| Marker Width | int | 2 | markerWidth |
| Max Markers (Performance) | int | 100 | maxMarkers |
| Show Bull/Bear Marker | bool | true | showBullBearMarker |
| Bearish Color | color | color.red | bearMarkerColor |
| Marker Offset Below Zero | float | 0.05 | markerOffset |
| Show Spread Zones on Price Chart | bool | true | showSpreadZones |
| Confirm Hits on Bar Close Only | bool | true | confirmOnClose |
| Show Compression Zones | bool | true | showCompressionZones |
| Active: Compression | color | color.new(color.blue, 82) | compressionZoneColor |
| Show High Spread Zones | bool | true | showHighZones |
| Filled: High Spread | color | color. new(color.red, 92) | highZoneFilledColor |
| Show Extreme Spread Zones | bool | true | showExtremeZones |
| Active: Extreme Spread | color | color.new(color.fuchsia, 82) | extremeZoneColor |
| Filled: Extreme Spread | color | color. new(color.fuchsia, 92) | extremeZoneFilledColor |
| Zone Border Color | color | color. white | zoneBorderColor |
| Zone Border Width | int | 1 | zoneBorderWidth |
| Enable Housekeeping (Remove Old Filled Zones) | bool | false | useHousekeeping |
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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