indicator · own pane · open source
Relative Volatility
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About
Relative Volatility is today's ATR divided by its own 4× longer moving average — a self-referencing 'vol vs its own baseline' oscillator.
- Above 1.0 = current ATR is bigger than the longer baseline (expansion).
- Below 1.0 = current ATR is smaller than the longer baseline (compression).
Source code
//@version=5
indicator("Relative Volatility", overlay=false)
len = input.int(14, "ATR length", minval=1, maxval=100)
rvol = ta.atr(len) / ta.sma(ta.atr(len), len * 4)
hline(1, "Baseline", color=color.gray)
p_RVol = plot(rvol, "RVol", color=color.purple, linewidth=2)
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