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
Variance, Dispersion or Spread (VARIANCE)
This indicator calculates the statistical variance of a price series over a user-defined lookback window and plots it in a separate pane.
GitHub stars47on the repository
Pine versionv6current
Lines of code40
Settings2inputs
LicenceMIT
Last update8 months ago28 Feb 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
40 lines of Pine Script v6 from indicators/statistics/variance.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
// The MIT License (MIT)
// © mihakralj
//@version=6
indicator("Variance, Dispersion or Spread (VARIANCE)", "VARIANCE", overlay=false)
//@function variance
//@param src {series float} Source series.
//@param len {int} Lookback length. `len` > 0.
//@returns {series float} Variance of `src` for `len` bars back. Returns 0 if not enough data.
variance(series float src, int len) =>
if len <= 0
runtime.error("Period must be greater than 0")
var int p = math.max(1, len)
var array<float> buffer = array.new_float(p, na)
var int head = 0, var int count = 0
var float sum = 0.0, var float sumSq = 0.0
float oldest = array.get(buffer, head)
if not na(oldest)
sum -= oldest
sumSq -= oldest * oldest
count -= 1
float val = nz(src)
sum += val
sumSq += val * val
count += 1
array.set(buffer, head, val)
head := (head + 1) % p
count > 1 ? math.max(0.0, (sumSq / count) - math.pow(sum / count, 2)) : 0.0
// ---------- Main loop ----------
// Inputs
i_period = input.int(14, "Period", minval=1)
i_source = input.source(close, "Source")
// Calculation
variance_value = variance(i_source, i_period)
// Plot
plot(variance_value, "Var", color=color.yellow, linewidth=2)
Overview
Using a ring buffer alongside running sums and squared sums, it computes sample dispersion efficiently without recalculating the entire window on each bar. Users can configure the calculation period and input source series. It serves purely as a statistical measurement of dispersion or volatility and does not generate trade signals or include predefined trading rules.
- Statistical variance and dispersion calculation
- Circular buffer running sum implementation
- Configurable lookback period and price source
- Separate pane visual line plot
Details
Published by
mihakralj 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.
Topics
pinescriptpinescript-indicatorstechnical-analysistradingview-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Period | int | 14 | i_period |
| Source | source | close | i_source |
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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