Definition :
"Juice" indicator is showing if the level of standard deviation is above or bellow some desired level and, that way, it is showing if we are in a times of increased or decreased volatility
This version :
It is using EMA deviation (originally published here : EMA deviation) and since EMA deviation is "faster" then the regular standard deviation, it can produce signals a bit faster
Usage :
The indicator is not a directional indicator. Instead use to to detect times of elevated volatility and adjust your trading accordingly
PS:
Do not be confused that the EMA deviation can be negative. That is a result of using that specific calculation mode and is, for EMA deviation quite natural