VIX - volatility indicator - Renko
Indicator
Version 1.0, Feb 2025
Windows, Mac
Since 05/02/2025
33
Sales
Description
Adjust the parameters: Enter the desired values for the LowLevel and HighLevel levels, and adjust the VIX Scale Factor so that the VIX line is the desired height.
Look at the graph:
When the VIX surpasses the HighLevel and the volume is high (green candles), you can consider that there is a breakout.
When the VIX is below the LowLevel, it may indicate a period of low volatility.
Summary
AI summary
The VIX - volatility indicator for Renko is a technical analysis tool designed to measure market volatility using Renko charts. Users can customize parameters including LowLevel, HighLevel, and the VIX Scale Factor to adjust the indicator's sensitivity and visual scale. The indicator displays a VIX line on the chart, where values surpassing the HighLevel combined with high volume (indicated by green candles) suggest a potential breakout event. Conversely, when the VIX falls below the LowLevel, it may signal a period of low volatility. This indicator helps traders identify breakout opportunities and volatility shifts within Renko charting frameworks.
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Price
Since 05/02/2025
33
Sales