Volatility Likelihood
Price is unlikely to move if you are below the yellow band.
Do note that it does not indicate direction but only tells you if a move is likely. This can be used in confluence with any other indicator to identify if the signal other indicators give you are actually likely to move price.
This can be used on any timeframe and is very useful to see if price is just wicking or actually going to be a move outside of a tight trading range. A very useful tool in an over leveraged market where price swings are drastic.
Thanks to Happy for helping code this script.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact DadShark directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact DadShark directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.