Directional Volatility indicator. The indicator displays two volatility lines – bullish and bearish ones.
It has two configurable parameters:
- Period – calculation period
- Deviation – deviation
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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