Average Price Range Screener [KFB Quant]

Dec 8

Average Price Range Screener [KFB Quant]

Overview:
The Average Price Range Screener [KFB Quant] is a technical analysis tool designed to provide insights into the average price volatility across multiple symbols over user-defined time periods. The indicator compares price ranges from different assets and displays them in a visual table and chart for easy reference. This can be especially helpful for traders looking to identify symbols with high or low volatility across various time frames.

Key Features:

1. Multiple Symbols Supported:
   The script allows for analysis of up to 10 symbols, such as major cryptocurrencies and market indices. Symbols can be selected by the user and configured for tracking price volatility.
   
2. Dynamic Range Calculation:
   The script calculates the average price range of each symbol over three distinct time periods (default are 30, 60, and 90 bars). The price range for each symbol is calculated as a percentage of the bar's high-to-low difference relative to its low value.
   
3. Range Visualization:
   The results are visually represented using:
   - A color-coded table showing the calculated average ranges of each symbol and the current chart symbol.
   - A line plot that visually tracks the volatility for each symbol on the chart, with color gradients representing the range intensity from low (red/orange) to high (blue/green).
   
4. Customizable Inputs:
   - Length Inputs: Users can define the time lengths (default are 30, 60, and 90 bars) for calculating average price ranges for each symbol.
   - Symbol Inputs: 10 symbols can be tracked at once, with default values set to popular crypto pairs and indices.
   - Color Inputs: Users can customize the color scheme for the range values displayed in the table and chart.
   
5. Real-Time Ranking:
   The indicator ranks symbols by their average price range, providing a clear view of which assets are exhibiting higher volatility at any given time.
   Each symbol's range value is color-coded based on its relative volatility within the selected symbols (using a gradient from low to high range).
   
6. Data Table:
   The table shows the average range values for each symbol in real-time, allowing users to compare volatility across multiple assets at a glance. The table is dynamically updated as new data comes in.
   
7. Interactive Labels:
   The indicator adds labels to the chart, showing the average range for each symbol. These labels adjust in real-time as the price range values change, giving users an immediate view of volatility rankings.
   

How to Use:

• Set Time Periods: Adjust the time periods (lengths) to match your trading strategy's timeframe and volatility preference.
  
• Symbol Selection: Add and track the price range for your preferred symbols (cryptocurrencies, stocks, indices).
  
• Monitor Volatility: Use the visual table and plot to identify symbols with higher or lower volatility, and adjust your trading strategy accordingly.
  
• Interpret the Table and Chart: Ranges that are color-coded from red/orange (lower volatility) to blue/green (higher volatility) allow you to quickly gauge which symbols are most volatile.
  

Disclaimer: This tool is provided for informational and educational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.