This is Mladens Volatility ratio, built it in to a heatmap same as the regular indicator the heatmap colors when when volatility >1 for volatility and <1 for no or low volatility. This heatmap is similar to the ma cross if you click on a block it will send you to that pair and it's timeframe. Indicator not needed for the heatmap to work.
Mladen's explanation about VR:
Theory
There is always a need to measure if the market is "quiet" or it is volatile. One of the possible way is to use standard deviations, but the issue is simple : we do not have some levels that could help us find out if the market is in a state of lower or higher volatility. This indicator is attempting to do that :
- values above level 1 are indicating state of higher volatility
- values below level 1 are indicating state of lower volatility
Usage
This is not a directional indicator. It should be used for volatility detection, not trend assessment - for that you have to use some other indicator and then check this one if the market volatility conditions are those that you expect
