This is a simple gauge of volatility using the Coefficient of Variation. COV is calculated by dividing standard deviation of price by the expected (average) price. Custom color scheme indicates increases and decreases in volatility, which is indicated when the COV forms new half period highs and lows.
Thanks [DW], always an inspiration. So much great work.
Leaving this here for people searching about Mark Whistler and the Wave PM indicator (Whistler Active Volatility Energy Price Mass).
This plots a similar result, but not the same.
Leaving this here for people searching about Mark Whistler and the Wave PM indicator (Whistler Active Volatility Energy Price Mass).
This plots a similar result, but not the same.