DV Webby Tight Indicator #

• The Webby Tight Indicator is a financial analysis tool designed to assess the volatility of a financial instrument by comparing its recent price
  fluctuations to its longer-term fluctuations.
  
• This is done by calculating and comparing averages of the security's true range (a measure of volatility) over shorter and longer timeframes. The idea is that by understanding the volatility, investors can make more informed decisions about when to buy or sell.
  
• The shorter-term periods typically include averages over 3, 5, and 8 periods, while the longer-term periods look at averages over 55, 89, and 144 periods. This method was developed by Mike Webster, aiming to provide a nuanced view of a security's volatility relative to its own history.

DV Webby Tight Settings #

• Settings can be accessed by double clicking on the indicator, or its associated ‘settings' icon.

Inputs #

Style #