Low HV calculated by *VGT can potentially signify a potential move up or down in the price of an asset. When HV is low, it indicates that the price of the asset has been relatively stable or range-bound over the specified period of time. This can sometimes be a precursor to a significant move in either direction, as the price may be building up energy to break out of its range.
*VGT can be used for any market that TradingView supports, including stocks, forex, and cryptocurrencies. It is especially useful for traders who want to identify periods of high volatility or sudden changes in volatility , which can indicate potential trading opportunities or risks. However, it's important to note that HV is a historical measure and may not always accurately predict future volatility .
The indicator can be used under various market conditions, but is especially useful during periods of high volatility , such as market crashes or major news events. It can also be useful for traders who want to monitor the volatility of specific stocks or assets over a longer period of time.
*VGT is provided for informational purposes only and is not a guarantee of future performance or accuracy. Traders should use multiple indicators and analysis methods to make informed trading decisions. Trading involves risks and traders should always conduct their own research and analysis before making any investment decisions.
In addition to that, I have also added a new feature which allows you to change the default ticker in order to view another historical volatility (HV) on the current chart ticker if you wish. This feature will provide you with more flexibility and convenience in monitoring the market trends and making informed decisions.
I appreciate your feedback and suggestions, and I will continue to work hard to make my indicators more user-friendly and efficient. Please do not hesitate to contact me if you have any further suggestions or questions.
Low Volatility Threshold: Users can now identify periods of low volatility by enabling the "Low Volatility Threshold" checkbox and specifying a threshold value.
Customizable Threshold Value: Traders can customize the threshold level for low volatility according to their trading strategies and preferences.
Visual Representation of Low Volatility: Histogram bars change color to a custom gray when low volatility is detected, providing a clear visual indication of reduced market activity.
These new features enhance the Volatility Gap Tracker's effectiveness in monitoring volatility patterns and supporting informed trading decisions.
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.