Volatility Scanner in raw form for number of currency pairs.
Author: JAN OPOCENSKY
I suppose you are talking about CHFJPY pair at D1 (daily) timeframe.
5%/70% means that:
1. body of the candle at specific day was 5% of the average body (average calculated of last 100 candles) for the pair.
2. high-low of the candle at specific day was 70% of the average high-low (average of last 100 candles) for the pair.
Value 5%/70% indicates something like small "doji" candle.
This indicator gives you information about volatility or uncertainty more than strength.
so, do i read this correct?
red means that volatiliy is low
blue means that volatlity is high?
i think you need to add these lines into your description, it is not clear.
red color means that both the body and the hilo of particular candle is under 50% of the average.
blue color means only body is under 50% of the average.
Thanks for the response.
I referred to CHFJPY pair at D1 (daily) timeframe because that's your reference chart and the points were highlighted by the red rectangle.
In the same column:-
GBPCAD is 2%/38% - low Vol . . . . am i correct ??
EURCHF is 183%/129% - hi Vol . . . am i correct ??
Anything else to infer from the output?
Thnx & best regards
yes. It is correct in general.
Maybe I would rather say "relatively lower" volatility and "relatively higher" volatility.
I choose border value 50% for coloring the volatility value.
But the value 50% is not strict.
I use the scanner to identify contraction fase.
If you see several (1, 2 or more) consecutive lower volatility values (red or blue) you can assume on contraction fase.
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