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