Historical Volatility Percentile

The Historical Volatility Percentile (HVP) is a statistical-based indicator that evaluates the deviation from the average price of an instrument in a given time period. It is usually used to measure the likelihood that a security's price will move away from its current value. This indicator is best used as a confluence or to filter trade signals.Several customization options are available for this indicator, such as Volatility Period: the period during which the average volatility is calculated upon. Statistical Sample: the period in which the volatility is compared against MA period: the period in which SMA is plotted on the chart to create a baseline. Other visual customization options are available such as Heatmap color Red - More than 90% Orange - More than 80% Yellow - More than 70% Blue - For below 70% Positive/Negative Histogram Plots the HVP value below zero when the candle close is in decline and above zero when it's inclining