Indicator Volatility_Ratio is an attempt to find trading ranges and trend return points.
It works within the range of 0.01-1.0 only. At the values above 0.5, it indicates the probability of the current trend reversal.
It has one input parameter:
- Period – calculation period.
Calculations:
VR[i] = tr[i] / pr[i]
where:
tr[i] = Max(hl[i], hc[i], lc[i])
hl[i] = High[i] - Low[i] hc[i] = Abs(High[i] - Close[i-1]) lc[i] = Abs(Low[i] - Close[i-1])
pr[i] = Max(MH, Open[i-Period+1]) - Min(ML, Open[i-Period+1])
MH and ML are the highest and the lowest price over the Period, respectively.
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Volatility Ratio MT5 Indicator