Historical Volatility Percentile [HVP] is currently contracting, at levels close to 0. Whether we will see it go to 0 and see the indicator flash is not certain, but likely since values of 0 and 100 are the most occurring. Once the value of the Hurst exponent is starting to trend > 0.5, we will see that HVP contraction is complete and expansion has begun.
From whenever expansion occurs, we can see whether if there is a positive or negative correlation of HVP with the price of underlying and then take position/determine direction, this is one way to do it, I will also be using the Momentum indicator from [BA_PIG] in confluence.
That's one POWFUL correlation indicator, if ever there was one.
And all with freely available indicators right here on TV. Impressive, what BApig have published and given to the community.