Gopalakrishnan Range Index [Rouge1896]
Gopalakrishnan indicator or GAPO for short, is a measurement of market volatility.
The indicator is calculated over a set time period (default 5 days) using only price action.
Developed by Jayanthi Gopalakrishnan which is based on Mandelbrot's work, to measure the dynamic character of the financial markets.
The indicator is calculated over a set time period (default 5 days) using only price action.
Developed by Jayanthi Gopalakrishnan which is based on Mandelbrot's work, to measure the dynamic character of the financial markets.
study(title="Gopalakrishnan Range Index [Rouge1896]", shorttitle="Gopalakrishnan") src = close Period=input(5, title="Period") G=(log(highest (Period)-lowest(Period)))/(log(Period)) plot(G, title="GAPO colour",color=blue, linewidth=2)