Volatility Ratio
This ratio is used to identify wide-ranging days.
Wide ranging days are signaled by a Volatility Ratio greater than 2.0.
Identifies
1. Wide-ranging days, signals a likely reversal
2. Price gaps
3. Island Price pattern
Formula
Volatility Ratio = True Range / EMA of True Range for the past n periods
MT4/MQ4 version.
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The indicator was revised and updated