Simple days to cover study, adjustable average volume parameter and adjustable midline. Works for any Bitfinex margin pair.
The Volatility Index measures the market volatility by plotting a smoothed average of the True Range. Based on HPotter's idea (), it returns an average of the TrueRange over a specific number of bars. Here the result is passed through the Fisher's transform and normalized to 0/1-range. This indicator may be used to identify stretches in the price movements,...
Description and documentation can be found within the script.
Plot where RSI or MFI is in its Bollinger Bands . Can be used in many different way: as a trend indicator (above below 0.5), part of a trend following strategy when crossing above 0 (resume bullish trend ) or crossing below 1 (resume bearish trend ), also useful for divergences, etc...
Plots where RSI or MFI is inside its Bollinger Bands. Various strategies: good to see the trend (above/below average), overbought/oversold conditions (you could work a strategy around RSI getting out of overbought/oversold conditions as shown in the screenshot), divergences, etc... I will also publish a Bollinger Bands width of RSI to identify areas of squeeze in...
Measures price distance from extremes. Ranging closer to 0 means topping/bottoming (this can stay in this state for a long time), (price near extreme). Can be used to peak trend reversals(will need to keep doing tests with it) EXPERIMENTAL --> Use at your own risk.
This is a simple concept but I couldn't find an indicator in the library so here it is