Explosive score
Volume-surge gauge with a rise bonus: quiet bars sit near 0.18, spikes near 1.
ExplosiveScore adds three weighted parts: the rise over the last 5 and 21 bars (falling moves count as zero), the current volume against the average of recent bars, and the 14-bar average true range as a percent of price, weighted lightly. The sum runs through a logistic curve, so the score lands between about 0.18 and 1, with 0.5 at a raw sum of 1.5. Volume carries most of the weight: doubling the usual volume alone lifts the score to about 0.73, while a 1% rise over five bars adds only about 0.4 to the sum.
How to read it
- The line sits in its own pane below the price, between about 0.18 and 1.
- On SPY one-minute bars it sat near 0.18 for half of all bars, so 0.18 is the normal quiet state.
- A rise toward 0.5 needs volume about 1.6 times its recent average, or a rise of several percent in five bars.
- Readings near 1 need volume several times the recent average; the top 5% of bars sit above 0.998.
What it outputs
- Explosive score
- Surge score for the latest bar: about 0.18 when quiet, rising toward 1 as volume spikes and price rises.
Settings
- window_vol
- Length of the volume baseline, which averages the window_vol minus 1 bars before the current one. Higher: a slow average, so sustained volume keeps scoring. Lower: the average catches up fast, so only a sudden spike scores. At 1 the volume term switches off.
Pitfalls
- The floor is about 0.18, not 0: the lowest possible reading is the logistic of zero, so every quiet bar reads the same. Judge the pane by relative height, not as a true 0 to 1 scale.
- Volume drives the reading. Doubling volume alone lifts the score to about 0.73, while a 1% rise over five bars adds only about 0.4 to the raw sum. Heavy-volume drops score high too.
- The top 5% of bars sit above 0.998 and the max is exactly 1.0. Check those spikes against the raw volume before trusting them.