Volatility Bar

Volatility Bar - Significant Price Movement Alert

This indicator identifies and highlights candles with significant price movements by comparing the current bar's range against historical volatility.

**Key Features:**
- **Orange Bars**: Marks candles with range 135%-175% of the maximum range in the previous N bars (default 4)
- **Red Bars**: Highlights extreme volatility bars exceeding 175% threshold
- **Visual Alerts**: Triangle markers below significant bars for quick identification
- **Background Highlighting**: Optional background coloring for enhanced visibility
- **Statistics Panel**: Real-time display of current range, max historical range, ratio percentage, and alert status

**Use Cases:**
- Identify wide range bars, gap bars, and price expansion patterns
- Spot potential breakout or reversal signals
- Filter out noise while catching meaningful price action
- Alert traders to significant market events requiring attention

**Customizable Parameters:**
- Lookback Period (default: 4 bars)
- Minimum Threshold (default: 135%)
- Maximum Threshold (default: 175%)

**How It Works:**
The indicator calculates the current bar's high-low range and compares it to the highest range among the previous N bars. When the current range exceeds the minimum threshold, it's marked orange. Extreme movements beyond the maximum threshold are marked red, helping you distinguish between normal volatility spikes and extraordinary events.

Perfect for price action traders who want automated alerts for significant market movements without the clutter of false signals.