TraderJoe's Vol Screener

A professional-grade volatility indicator that displays real-time volatility calculations as a clean overlay on your chart. Features multiple volatility calculation methods, multi-symbol screening capabilities, and extensive customization options. Perfect for volatility-based trading strategies, risk management, and market analysis.
Key Features:

4 Volatility Calculation Methods: Choose from Close-to-Close, Parkinson, Garman-Klass, or ATR-based volatility
Multi-Symbol Screener: Monitor volatility across up to 5 symbols simultaneously
Fixed Chart Overlay: Clean, non-intrusive display that doesn't interfere with price action
Lookback Period Highlighting: Visualize exactly which price data is being analyzed
Debug Mode: Deep dive into volatility components with detailed statistics
Fully Customizable: Colors, positions, text size, and display options

Volatility Methods Explained

Close-to-Close (Traditional)

Uses only closing prices
Standard deviation of logarithmic returns
Most common but ignores intraday movement


Parkinson (Default)

Uses high-low range
More efficient than close-to-close
Better captures intraday volatility
Ideal for trending markets


Garman-Klass

Uses OHLC data
Most efficient estimator
Captures overnight gaps and intraday movement
Best for 24/7 markets like crypto


ATR-Based

Uses Average True Range
Intuitive for traders familiar with ATR
Includes gaps between periods
Shown as percentage of price



Instructions
Basic Setup:

Add the indicator to your chart
The volatility will display in the top-right corner by default
Default settings use Parkinson volatility with 20-period lookback

Configuration Options:
Volatility Settings:

Lookback Period: Number of bars to calculate volatility (2-500)
Volatility Method: Choose your preferred calculation method
Annualize Volatility: Toggle to show annualized volatility
Decimal Places: Precision of volatility display (0-4)

Display Settings:

Text Size: From tiny to huge
Text/Background Colors: Customize appearance
Table Position: 9 positions available (corners, edges, center)
Highlight Lookback: Shows shaded area for calculation period

Screener Settings:

Show Volatility Screener: Enable multi-symbol monitoring
Screener Symbols: Enter up to 5 comma-separated symbols
Screener Position: Independent positioning from main display

Debug Mode:

Shows calculation method
Average, max, and min returns
Total price range over lookback period

Use Cases:
For Day Traders:

Use 10-20 period lookback on 5-15 minute charts
Parkinson or Garman-Klass methods recommended
Monitor volatility spikes for breakout opportunities

For Swing Traders:

Use 20-50 period lookback on hourly/daily charts
Compare volatility across correlated assets
Identify low volatility consolidations

For Options Traders:

Enable annualized volatility
Compare implied vs. historical volatility
Use screener to find high/low volatility assets

For Risk Management:

Scale position sizes based on volatility
Set stops using volatility multiples
Monitor portfolio volatility exposure

Tips & Best Practices:

Timeframe Matters: The indicator automatically adjusts calculations for your chart timeframe
Annualized vs. Raw:

Annualized: Compare across different timeframes
Raw: Actual volatility for the specific period


Method Selection:

Crypto/Forex (24/7): Use Garman-Klass
Stocks (with gaps): Use Parkinson or ATR-based
Quick analysis: Use default Parkinson


Screener Usage:

Enter symbols without exchange suffix for some brokers
All symbols use the same timeframe as your main chart
Great for finding relative volatility leaders/laggards



Common Questions:
Q: Why does volatility seem low during strong trends?
A: Volatility measures price variability, not direction. Steady trends can have low volatility.
Q: What's a "normal" volatility reading?
A: Varies by asset class:

Major forex pairs: 5-15% annualized
Large-cap stocks: 15-30% annualized
Cryptocurrencies: 50-100%+ annualized
Meme coins: 100-200%+ annualized

Q: How do I add more symbols to the screener?
A: Currently supports 5 symbols. Add them as comma-separated values (e.g., "BTCUSDT,ETHUSDT,SOLUSDT").
Example Setups:
Crypto Volatility Dashboard:

Method: Garman-Klass
Lookback: 24 (for hourly = 1 day)
Screener: Top cryptos
Position both tables on left side

Stock Market Scanner:

Method: ATR-Based
Lookback: 20
Annualized: On
Highlight lookback period

Forex Precision:

Method: Parkinson
Lookback: 50
Decimal places: 3
Debug mode for deep analysis