Relative Volatility Oscillator is a volatility based oscillator and works very well on Lower Time Frames on volatile assets. It uses one of five periods (34,55,89,144,233) to calculate relative volatility of the current bar with the volatility trend of one of the 5 periods from the settings, using percentile rank.
Features of Relative Volatility Oscillator
Choice of one of five periods for the Relative Volatility Oscillator plot.
SOS Triangles to indicate Bull/Bear Exhaustion.
Option to plot Volatility Zones. Oscillator Values between -5 and 5 will be plotted using exhaustion colours and can be used to monitor trades closely for trend reversals.
Choice of 3 colour themes including option to plot trend based coloured price bars.
When open source? Haha ❤️❤️