WaveNodes Volatility Meter is the modified version of SBER PEC for WaveNodes Pro Max Edition.
It presents the following 3 pieces of information:
1. Volatility (presented as a histogram) – Higher the bar, higher the volatility
2. Ref line (red-coloured line) – Critical reference level to check breakout in volatility and to check long term volatility
3. Phase of Price Action (colour of histogram bars):
a) Blue colour – Bullish or Recovery Phase
b) Red colour – Bearish or Correction Phase
The tool also has the option to turn on/off the day range (High – Low of the day) and candle range (High – Low of the candle) for studying the price behaviour.
For phases, sensitivity can be adjusted from settings.
Rising or declining volatility and ref line helps options traders, as well as traders of other instruments, make timed decisions.
Volatility meter has an option to see Trap Alerts (an alternate to WaveNodes Trap Alert module) within indicator panel, as and when it is expected to happen. Refer to WaveNodes Trap Alert Module for details.
*Currently, WaveNodes Volatility Meter is offered complimentary with Pro Max Subscription.