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 v5 · Own pane
Volatility of Volatility (VOV)
The Volatility of Volatility (VOV) indicator measures the rate of variation in price volatility over time.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code66
Settings3inputs
LicenceNone stated
Last update9 months ago25 Jan 2026
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
Volatility of Volatility (VOV) first computes a rolling standard deviation of the chosen price source over a specified initial lookback period. It then calculates a second standard deviation of that underlying volatility series over a secondary lookback period using circular array buffers. Rendered in a separate chart pane, this tool helps evaluate volatility stability and clustering. Users can customize the price source and both calculation period lengths.
- Dual-stage rolling standard deviation calculation
- Circular buffer array implementation
- Configurable lookback periods for volatility and VOV
- Separate pane visual line plot
Details
Published by
mushroom-men-Trading on GitHub
Code credit
mihakralj, as written in the script's header
Type
Indicator, Pine Script v5
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | close | i_src |
| Volatility Period | int | 20 | i_volatilityPeriod |
| VOV Period | int | 10 | i_vovPeriod |
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.
Similar Pine Scripts
This indicator plots a Supertrend-based trend-following setup in a separate pane and skips conditions it treats as a sideways market. A volatility range is built from an ATR value, with RMA, SMA, EMA, or WMA smoothing, or from a fixed point distance. Optional
This indicator plots candle range and open-to-close movement as percentages in a separate pane. Range is the high-low difference divided by the low, and change is the close-open difference divided by the open. Both series draw as columns. Teal columns show ran
The Mojito v3 Strategy indicator evaluates volatility term structure by calculating the ratio between front-month and second-month VIX futures contracts. It smooths this ratio using a configurable median filter and compares the result against user-defined uppe
Calculates dynamic modeling values by applying a mathematical logistic differential equation to price change over a specified lookback length. It measures price momentum relative to the recent high-low price range. The script plots positive and negative logist
MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes us
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers