I am trying to write an Indicator which will give a Historical IV Rank to a particular stock. The calculation is:
100 x (the current Historical IV level – the 52 week Historical IV low) / (the 52 week Historical IV high – 52 week Historical IV low) = IV Rank
I have tried the attached but I think that the terms “highest” and “lowest” only work with price. Does anyone know if my calculation can be performed by PRT
Many thanks
IV Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
indicator1=HistoricVolatility
indicator2=highest[365]HistoricVolatility
indicator3=lowest[365]HistoricVolatility
c3=indicator1-indicator3
c4=indicator2-indicator3
c5=c3/c4
c6=c5*100
Returnc6AS"IV Rank"
//HOW IS IV RANK CALCULATED?
//The formula for IV rank is simple, really. It is:
//100 x (the current IV level - the 52 week IV low) / (the 52 week IV high - 52 week IV low) = IV Rank