Volatility Screener

The Volatility Screener tool provides a comprehensive dashboard to monitor and compare the volatility of up to 15 different assets simultaneously using a standardized statistical approach.

Usage

The Volatility Screener is primarily used to identify high-opportunity assets based on their recent price activity. Users can input up to 15 specific ticker symbols into the settings. The indicator then generates a table displaying:

• Volatility Index: A calculation of the standard deviation relative to the average price, expressed as a percentage.
• Volume*Price/1M: A metric representing the relative liquidity and turnover of the asset.
• Price Change: The percentage difference between the current price and the average price over the lookback period.

If a coin's volatility exceeds the user-defined "Minimum Volatility Percentage", the table cell will highlight, and if configured, a dashboard alert will trigger, allowing traders to quickly react to sudden spikes in market activity across multiple pairs without changing charts.

Details

The script utilizes the request.security function to fetch data for various tickers regardless of the current chart. The "Volatility Index" is constructed by taking the standard deviation of the price over a specified length and dividing it by the Simple Moving Average (SMA) of that same period. This "coefficient of variation" approach allows for an apples-to-apples comparison between assets with vastly different price scales (e.g., comparing BTC and SHIB).

Additionally, the tool calculates a volume-price product normalized by 1,000,000 to gauge market interest and tracks price deviations from the mean to identify trending or overextended assets.

Settings

Coins

• Coin 1 - 15: Individual input fields to define the ticker symbols (e.g., "BINANCE:BTCUSDT") you wish to monitor in the screener.

Parameters

• Length: The lookback period (number of bars) used for calculating the average price, standard deviation, and volume metrics.
• Minimum Volatility Percentage: A threshold value. When the calculated Volatility Index exceeds this number, the table cell changes color to signal high volatility, and alerts are triggered.

FAQ

How do I use the Volatility Screener?

Simply add the indicator to your chart and input your desired ticker symbols in the settings panel. The table will automatically populate with real-time data for those specific assets.

Can I change the assets being tracked?

Yes, you can customize all 15 ticker slots in the "Coins" section of the indicator settings to track any asset available on TradingView.

How can I get access to this tool?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.