Author
ScriptorPublished date
Oct 25, 2018
Directional Volatility indicator. The indicator displays two volatility lines - bullish and bearish ones.
It has two configurable parameters:
Calculation:
Short = ShortMA + Deviation * ShortDev
Long = LongMA + Deviation * LongDev
where:
ShortMA - EMA(ShortS,Period)
ShortDev - StdDev(ShortMA,Period)
ShortS = PrevClose - Low
LongMA - EMA(LongS,Period)
LongDev - StdDev(LongMA,Period)
LongS = High - PrevClose
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