Oscillator Volatility Ratio2 is the second version of indicator Volatility Ratio.
If the values exceed 2, the current trend reversal probability is high.
It has three adjustable parameters:
- Period – calculation period
- Threshold – the threshold level
- Show alerts – show data on exceeding the threshold level
Calculations:
VR = TR / EMATR
where:
TR = Max(Max(High-Low, Abs(High-PrevClose)), Abs(PrevClose-Low))
EMATR = EMA(TR, Period)
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