Vervoort Smoothed %b [LazyBear]

As we know, %b is a measure of where prices are in relation to the outer Bollinger bands and therefore strongly related to volatility . This can get choppy, though.

Vervoort smoothed this using Zero lag TEMA of custom Heiken-ashi recalculated prices. According to Vervoort, "Smoothed Vervoort %b is often a leading indicator making smooth moves with clear turning points. Normal and hidden divergent moves make it an ideal tool to help find entry and exit points while watching price moving between the Bollinger bands ."

More info:

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// @author LazyBear 
// List of all my indicators: 
study("Vervoort Modified BB%b [LazyBear]", shorttitle="VMBB%b_LB")
calc_tema(s, length) =>
    ema1 = ema(s, length)
    ema2 = ema(ema1, length)
    ema3 = ema(ema2, length)
    3 * (ema1 - ema2) + ema3

length=input(18, minval=2, maxval=100, title="%B Length")
temaLength=input(8, title="TEMA Length")
stdevHigh=input(1.6, title="Stdev High")
stdevLow=input(1.6, title="Stdev Low")
stdevLength=input(200, title="Stdev Length")
haC=(ohlc4+haOpen+max(high, haOpen)+min(low, haOpen))/4

tma1 = calc_tema(haC,temaLength)
tma2 = calc_tema(tma1, temaLength)
diff = tma1-tma2
zlha = tma1+diff
percb = (calc_tema(zlha,temaLength)+2*stdev(calc_tema(zlha,temaLength),length) - wma(calc_tema(zlha,temaLength),length))/(4*stdev(calc_tema(zlha,temaLength),length))*100

ul=plot(ub, color=red, title="Stdev+")
ll=plot(lb, color=green, title="Stdev-")
plot((ub+lb)/2, color=blue, style=3, title="Stdev Mid")
fill(ul, ll, red)
plot(percb, linewidth=2, color=maroon, title="SVE %b")

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This indicator gives very good input signals. Thanks to Lazy Bear. Could some programmer add regular and hidden divergence signals to it. I would greatly appreciate this additional indicator.
Is it possible to create multiple time-frame option with this the good work @ChrisMoody is doing? So, if we are looking at the 15 min but the indicator can be set to display a higher TF such as the 1H or 4H....
LazyBear jonesesp
Yup. Will PM.
jonesesp jonesesp
Hi! have you had any time to check this out? TY
LazyBear jonesesp
Here you go.

MTF source:

An excellent tool to have access too...thanks @LazyBear
LazyBear jonesesp
Thanks for the indicator education.
LazyBear MarvinMartian
yw :)
The name alone has me sold.. Veroot.

Another Volatility Indicator (finder)

Thanks again
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