Volatility Dots
- Indicatori
- Versione: 1.0
- Attivazioni: 20
Volatility Dots puts a trailing line of dots on your chart. In an uptrend the dots sit under the price, in a downtrend above it, and they flip when price closes through the opposite band. It works on any symbol and any timeframe. It reads only the prices your terminal already has, does not use any server, does not send anything out, and does not open or change orders.
What It Shows
One dot per bar. White dots under the candles mark a rising trend, red dots above the candles mark a falling trend. The dots move with the price and never move against the trend, so they can be used as a visual reference for where a trend would be broken. The dot of a finished bar is fixed by the closed data of that bar; the dot of the forming bar moves with every tick.
How The Dots Are Calculated
The middle of every bar is the average of its high and low. Around it two bands are built at a distance of the multiplier times the average true range over the chosen number of bars (14 by default, multiplier 4.5). The trend turns up when a bar closes above the upper band and turns down when a bar closes below the lower band; inside a trend the active band can only move in the direction of the trend. The dot is the active band.
Reading The Chart
Under the candles the dot is the level below which the current uptrend would be considered broken; above the candles it is the level above which the current downtrend would be considered broken. A larger multiplier gives a slower line with fewer flips, a smaller one follows the price closer. Nothing is drawn before the average true range has enough bars.
Input Parameters
AtrBars - the number of bars of the average true range (14 by default). BandMult - the multiplier (4.5 by default). DotCode - the symbol code used for the dot.
Buffers For Experts
Buffer 0 holds the dot under price (uptrend), buffer 1 the dot above price (downtrend), buffer 2 the active band whichever side it is on; bars where nothing is drawn return the empty value.
Code Check
We compared the released build with an independent implementation of the same formula, written in Python, on eight symbols and three chart timeframes (M15, M30, H1): 16323 bars in total, every bar matching in value and in side. The terminal journal showed no errors from the indicator.
What This Product Is Not
It is not a trading signal service, it does not predict the market and it does not promise any result. The dots only mark where the current trend would break; what you do with that is entirely up to you.
Notes
No trading functions, no network access, no files. Screenshots in this listing show the indicator on a demo symbol.
Support
Questions and bug reports through the product page comments. Please attach the symbol, the chart timeframe and the broker server time of the problem.
