Rouge1896

Gopalakrishnan Range Index [Rouge1896]

Gopalakrishnan indicator or GAPO for short, is a measurement of market volatility .
The indicator is calculated over a set time period (default 5 days) using only price action.
Developed by Jayanthi Gopalakrishnan which is based on Mandelbrot's work, to measure the dynamic character of the financial markets.
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study(title="Gopalakrishnan Range Index [Rouge1896]", shorttitle="Gopalakrishnan")
src = close
Period=input(5, title="Period")

G=(log(highest (Period)-lowest(Period)))/(log(Period))

plot(G, title="GAPO colour",color=blue, linewidth=2)

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