Relative Channel Bandwidth

This indicator uses different volatility channels - Bollinger Band, Donchian Channel and Keltner Channel width to measure volatility.

Indicator plots channel bandwidth percentage with respect to close price.

This is not same as Bollinger Percent B - which is measure of where price is with respect to band. Instead this indicator is similar to ATR Percent indicator published here:

Plotting is color coded to indicate volatility zone:

• Red : Extreme volatility
  
• Orange : High volatility
  
• Lime : Low volatility
  
• Green : Extreme low volatility
  

These levels are again derived by long period bollinger bands