CryptoMedication's Volatility RSI — Indicator by librehash

oscillator relativestrengthindex volatility cryptocurrency

So, here's what we ended up doing for the most recent one that we created.

1. We took the ATR (Average True Range) - You can read about that here:
2. Then applied the Bollinger Bands %B to it
3. Then overlayed it with another indicator
Purpose:

The general purpose of this indicator is to identify when there are periods of consolidation or if there were be a large increase in the price (going either way). However, we were able to plug this in so that it connected with the RSI (after cancelling out the noise and smoothing values*making it scaled out evenly), so that it also produces buy/sell signals.

If you're interested to get a more in-depth overview of how this works, visit this link here:

Telegram = t.me/librehash
Twitter = twitter.com/librehash
Website = librehash.org
GIt = git.librehash.com
Docs = docs.libreahsh.com

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?