What is Jurik Volty?
One of the lesser known qualities of Juirk smoothing is that the Jurik smoothing process is adaptive. "Jurik Volty" (a sort of market ) is what makes Jurik smoothing adaptive. The Jurik Volty calculation can be used as both a standalone indicator and to smooth other indicators that you wish to make adaptive.
Parameters are simple:
There are no other parameters used by this indicator.
PS: Don't forget, this indicator is not directional! The color change is showing periods of elevated or low average volatility--not the expected direction of market prices.
-Toggle bar color on/off to show zones of high/low
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.