Jim Berg's Blue Bar Volatility Signal

We have previously looked at examples of custom bar colours using scripts here, but we had a recent request to colour the bars for Jim Berg’s Blue Bar Volatility Signal. This takes the lowest low over the past 20 days, and adds 2 times the ATR. When the close is greater than that value then the bar is painted blue.

Open a chart and click on any bar and change the Colour Scheme property to Custom, and use the following formula with the colour set to blue:

//Get the Lowest Low in 20 Days
v1 = LowestLow(BARS=20);
//Add 2*ATR(10)
v2 = v1 + ATR(MULT=2.00) ;
CLOSE() > v2




The script can be modified for a scan by changing the last line to CLOSE() CrossesAbove V2. Open the scan results as a watchlist and save the workbook, and then every time you open the workbook the watchlist will be updated with the latest scan results: