Relative Strength Volatility Variable Bands [DW]

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © DonovanWall

//██████╗ ██╗    ██╗
//██╔══██╗██║    ██║
//██║  ██║██║ █╗ ██║
//██║  ██║██║███╗██║
//██████╔╝╚███╔███╔╝
//╚═════╝  ╚══╝╚══╝
// ------------------------------------------------------------------------------------------------
// Original author:  DonovanWall
// Original title:   Relative Strength Volatility Variable Bands [DW]
// Licence:          MPL-2.0 (the header above is the original notice, kept verbatim)
// Pine version:     4
// Fetched:          2026-10-12
// Ported to FloScript by FloSignals; modifications under MPL-2.0.
// Converter:        @flosignals/floscript 0.1.0, strict mode, score 100/100
// ------------------------------------------------------------------------------------------------
//@floscript=1
//@version=5
// Converted by the FloScript converter from a Pine-compatible v4 source.

indicator("Relative Strength Volatility Variable Bands [DW]", shorttitle="RSVVB [DW]", overlay=true)
//by Donovan Wall

//This is an experimental adaptive trend following study inspired by Giorgos Siligardos's Reverse Engineering RSI and Tushar S. Chande's Variable Moving Average.

//In this study, reverse engineered RSI levels are calculated and used to generate a volatility index for VMA calculation.

//First, price levels are calculated for when RSI will equal 70 and 30. The difference between the levels is taken and normalized to create the volatility index.

//Next, an initial VMA is calculated using the created volatility index. The moving average is an exponential calculation that adjusts the sampling length as volatility changes.

//Then, upper and lower VMAs are calculated by taking a VMA of prices above and below the initial VMA. The midline is produced by taking the median of the upper and lower VMAs.

//Lastly, the band levels are calculated by multiplying the distance from the midline to the upper and lower VMAs by 1, 2, 3, 4, and 5.

//Bar colors are included. They're based on the midline trend and price action relative to the upper and lower VMAs.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Updates:

// -> Migrated to v4.
// -> Stability Fix: Added correction for NaN values to stabilize initial states.
// -> Reorganized script structure
// -> Updated style theme.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Functions
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Reverse Engineered RSI function
revrsi(x, t, v) =>
    wper = 2 * t - 1
    k = 2 / (wper + 1)
    uc = 0.0
    uc := x > x[1] ? k * (x - x[1]) + (1 - k) * nz(uc[1]) : (1 - k) * nz(uc[1])
    dc = 0.0
    dc := x > x[1] ? (1 - k) * nz(dc[1]) : k * (x[1] - x) + (1 - k) * nz(dc[1])
    val = (t - 1) * (dc * v / (100 - v) - uc)
    revrsi = val >= 0 ? x + val : x + val * (100 - v) / v
    revrsi

//VMA Function
vma(x, t, o) =>
    vma = x
    vma := na(vma[1]) ? x : (1 - 1 / t * o) * nz(vma[1]) + 1 / t * o * x
    vma

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Inputs
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Source
src = input(defval=close, title="Source")

//Sampling Period
per = input.int(7, minval=1, title="VMA Period")

//Volatility Sampling Period
vper = input.int(defval=7, minval=0, title="Volatility Period")

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Definitions
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Reverse RSI Volatitlity
hiband = revrsi(src, vper, 70)
loband = revrsi(src, vper, 30)
vol = hiband - loband
vi = (vol - ta.lowest(vol, vper)) / (ta.highest(vol, vper) - ta.lowest(vol, vper))

//VMA
ma = vma(src, per, vi)

//Split Means
srch = src > ma ? src : ma
srcl = src < ma ? src : ma
mah = vma(srch, per, vi)
mal = vma(srcl, per, vi)

//Midline
m = (mah + mal) / 2

//Half Mean Range
dist = (mah - mal) / 2

//Levels
h5 = m + dist * 5
h4 = m + dist * 4
h3 = m + dist * 3
h2 = m + dist * 2
h1 = m + dist * 1
l1 = m - dist * 1
l2 = m - dist * 2
l3 = m - dist * 3
l4 = m - dist * 4
l5 = m - dist * 5

//Midline Direction
var mup = 0.0
mup := m > m[1] ? 1 : m < m[1] ? 0 : mup
var mdn = 0.0
mdn := m < m[1] ? 1 : m > m[1] ? 0 : mdn

//Colors
color1 = #0aff68
color2 = #00752d
color3 = #ff0a5a
color4 = #990032
color5 = #ffbf0a
mcolor = mup > 0 ? color1 : mdn > 0 ? color3 : color5
barcolor = mup > 0 and src >= h1 and src > src[1] ? color1 : mup > 0 and src >= h1 and src <= src[1] ? color2 : mdn > 0 and src <= l1 and src < src[1] ? color3 : mdn > 0 and src <= l1 and src >= src[1] ? color4 : color5

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Outputs
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//High Levels
h5plot = plot(h5, color=color1, style=plot.style_circles, title="High Level 5")
h4plot = plot(h4, color=color1, style=plot.style_circles, title="High Level 4")
h3plot = plot(h3, color=color1, style=plot.style_circles, title="High Level 3")
h2plot = plot(h2, color=color1, style=plot.style_circles, title="High Level 2")
h1plot = plot(h1, color=color1, style=plot.style_circles, title="High Level 1")

//Midline
mplot = plot(m, color=mcolor, linewidth=3, title="Midline")

//Low Levels
l1plot = plot(l1, color=color3, style=plot.style_circles, title="Low Level 1")
l2plot = plot(l2, color=color3, style=plot.style_circles, title="Low Level 2")
l3plot = plot(l3, color=color3, style=plot.style_circles, title="Low Level 3")
l4plot = plot(l4, color=color3, style=plot.style_circles, title="Low Level 4")
l5plot = plot(l5, color=color3, style=plot.style_circles, title="Low Level 5")

//High Zone Fills
fill(h4plot, h5plot, color=color.new(color1, 75), title="High Zone 4 Fill")
fill(h3plot, h4plot, color=color.new(color1, 80), title="High Zone 3 Fill")
fill(h2plot, h3plot, color=color.new(color1, 85), title="High Zone 2 Fill")
fill(h1plot, h2plot, color=color.new(color1, 90), title="High Zone 1 Fill")

//Middle Zone Fill
fill(h1plot, l1plot, color=color.new(color5, 95), title="Middle Zone Fill")

//Low Zone Fills
fill(l1plot, l2plot, color=color.new(color3, 90), title="Low Zone 1 Fill")
fill(l2plot, l3plot, color=color.new(color3, 85), title="Low Zone 2 Fill")
fill(l3plot, l4plot, color=color.new(color3, 80), title="Low Zone 3 Fill")
fill(l4plot, l5plot, color=color.new(color3, 75), title="Low Zone 4 Fill")

//Bar Color
barcolor(barcolor)

This file is under the Mozilla Public License 2.0; it is a port of the original by DonovanWall, with the original licence header kept and the changes made for FloScript noted in the file.

• v22026-10-14

  Library refresh 2026-10-14

• v12026-10-12

  Library refresh 2026-10-12