OPEN-SOURCE SCRIPT
ATR%(Volatility index) by ogudora
ATR% (Volatility Index) — Volatility Heat & Tradability Gauge
█ OVERVIEW
This indicator answers one question at a glance: "Is this stock hard to trade right now?"
It plots the stock's ATR% (ATR ÷ Close × 100) as a volatility heat line, compares it against up to two market indices (Nikkei 225, NK225 Mini Futures, JP225 CFD, NASDAQ, SOX), and combines everything into a simple O/X verdict displayed in a single label or table.
█ KEY FEATURES
1. Individual ATR% Heat Line
The stock's ATR% is colored by level: cyan (normal), orange (caution, default 7%), red (STOP, default 9%). Dashed/solid threshold lines are drawn on the pane.
2. Index Zone (Fixed Lower Band)
Index ATR% is compressed into a dedicated zone at the bottom of the pane, so the individual line (usually 3%+) and the index line (usually under 2%) never overlap or distort each other's scale. Display is compressed, but all calculations, alerts, and label values always use the REAL index ATR%.
The index line itself is heat-colored by real value: white (calm, under 2%), orange (danger, 2%+), red (extreme danger, 3%+).
3. O/X Verdict
One line tells you everything: "Stock O Index X" style marks.
- Stock X = ATR% is high AND accelerating, or above the STOP line
- Index X = index ATR% is accelerating sharply (reversal warning) or above the danger line
Any X → red background (avoid new entries). All O + confirmed volatility decline → green background (calm regime).
4. Volatility Slope Detection
The slope of ATR% (current minus N bars ago, smoothed) classifies the regime:
- Rising volatility (slope above deadband)
- Confirmed decline (N consecutive down days — filters out zigzag "one good day" noise)
- Over-calm (ATR% below 2%): excessive complacency, one-sided optimism → reversal risk, alert only
5. Hidden Turbulence Detection
Detects days where ATR% still looks "comfortable" but the intraday range spikes above its average (default 1.8×) — the classic topping-zone zigzag pattern that ATR alone misses. Alert only, no chart clutter.
6. Two Display Modes
- Unified label: verdict + stock + index values in one bubble
- Table: fixed at top-right, row background = line color
█ ALERTS
- Stock ATR% high & accelerating (avoid entry)
- Confirmed volatility decline
- Over-calm (reversal caution)
- Hidden turbulence (calm ATR% but range spike)
- Index ATR% sharp acceleration (1 & 2)
- Index danger / extreme-danger line crossovers (1 & 2)
- Stock ATR% STOP line crossover
█ SETTINGS
- ATR Period (default 10, matching Supertrend 10/1)
- Stock caution / STOP thresholds (7% / 9%)
- Slope lookback, smoothing, deadband, consecutive-decline count
- Index selection ×2, danger / extreme thresholds, acceleration deadband
- Index zone height and scaling
- MA (SMA/EMA) overlay for both stock and index ATR%
- Daily-only display option
█ HOW TO USE
Green background / all O: volatility is calming — normal trading conditions.
Red background / any X: volatility is high and rising, or the market index is destabilizing — consider pausing new entries.
White index line turning orange or red: market-wide volatility regime shift — tighten risk regardless of how the individual stock looks.
This is a risk-filter tool, not a buy/sell signal generator. It is designed to be used alongside your own entry/exit system.
█ OVERVIEW
This indicator answers one question at a glance: "Is this stock hard to trade right now?"
It plots the stock's ATR% (ATR ÷ Close × 100) as a volatility heat line, compares it against up to two market indices (Nikkei 225, NK225 Mini Futures, JP225 CFD, NASDAQ, SOX), and combines everything into a simple O/X verdict displayed in a single label or table.
█ KEY FEATURES
1. Individual ATR% Heat Line
The stock's ATR% is colored by level: cyan (normal), orange (caution, default 7%), red (STOP, default 9%). Dashed/solid threshold lines are drawn on the pane.
2. Index Zone (Fixed Lower Band)
Index ATR% is compressed into a dedicated zone at the bottom of the pane, so the individual line (usually 3%+) and the index line (usually under 2%) never overlap or distort each other's scale. Display is compressed, but all calculations, alerts, and label values always use the REAL index ATR%.
The index line itself is heat-colored by real value: white (calm, under 2%), orange (danger, 2%+), red (extreme danger, 3%+).
3. O/X Verdict
One line tells you everything: "Stock O Index X" style marks.
- Stock X = ATR% is high AND accelerating, or above the STOP line
- Index X = index ATR% is accelerating sharply (reversal warning) or above the danger line
Any X → red background (avoid new entries). All O + confirmed volatility decline → green background (calm regime).
4. Volatility Slope Detection
The slope of ATR% (current minus N bars ago, smoothed) classifies the regime:
- Rising volatility (slope above deadband)
- Confirmed decline (N consecutive down days — filters out zigzag "one good day" noise)
- Over-calm (ATR% below 2%): excessive complacency, one-sided optimism → reversal risk, alert only
5. Hidden Turbulence Detection
Detects days where ATR% still looks "comfortable" but the intraday range spikes above its average (default 1.8×) — the classic topping-zone zigzag pattern that ATR alone misses. Alert only, no chart clutter.
6. Two Display Modes
- Unified label: verdict + stock + index values in one bubble
- Table: fixed at top-right, row background = line color
█ ALERTS
- Stock ATR% high & accelerating (avoid entry)
- Confirmed volatility decline
- Over-calm (reversal caution)
- Hidden turbulence (calm ATR% but range spike)
- Index ATR% sharp acceleration (1 & 2)
- Index danger / extreme-danger line crossovers (1 & 2)
- Stock ATR% STOP line crossover
█ SETTINGS
- ATR Period (default 10, matching Supertrend 10/1)
- Stock caution / STOP thresholds (7% / 9%)
- Slope lookback, smoothing, deadband, consecutive-decline count
- Index selection ×2, danger / extreme thresholds, acceleration deadband
- Index zone height and scaling
- MA (SMA/EMA) overlay for both stock and index ATR%
- Daily-only display option
█ HOW TO USE
Green background / all O: volatility is calming — normal trading conditions.
Red background / any X: volatility is high and rising, or the market index is destabilizing — consider pausing new entries.
White index line turning orange or red: market-wide volatility regime shift — tighten risk regardless of how the individual stock looks.
This is a risk-filter tool, not a buy/sell signal generator. It is designed to be used alongside your own entry/exit system.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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 PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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 PulseWire. Read more in the Terms of Use.