Effort v Reward — Indicator by pauls0101

volatility trendanalysis volumestudies smartmoney

This is the same as my Effort v Reward script but instead is an overlay that changes the background color rather than using a pane at the bottom. A little less info but more at a glance.

Release Notes:

Changed the formula for highlighting from static <0, >1 values to use BB. The StdDev is adjustable as an input.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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