JB Volatility - market volatility oscillator marking its state in color.
It has three configurable parameters:
- Period - calculation period;
- ATR period - ATR calculation period;
- Multiplier - ATR value multiplier.
Interpretation
Volatile uptrend: Close price is higher than the lowest price over the Period of bars + ATR (ATR period) * Multiplier.
Volatile downtrend: Close price is lower than the highest price over the Period of bars + ATR (ATR period) * Multiplier.
Low volatility: In any other case.