Average Volatility ZonesDisplays the average volatility range directly on the chart as horizontal levels projected from the current period's open.
The indicator calculates the average candle size (High-Low or True Range) over a configurable period and timeframe (default: Daily, 20 bars), then draws upper and lower lines at that distance from the current timeframe open — showing how far price typically moves within one period.
Key features:
- Multi-timeframe support — measure volatility from any timeframe (M15 to Monthly)
- Scalable levels — optional 2x, 3x, and custom multiplier levels for extended volatility zones
- Zone mode — converts lines into shaded bands based on a percentage of the average volatility
- Automatic pip detection for forex pairs (supports 5-digit and 3-digit brokers)
- Each level is labeled with its timeframe, period, and value in pips
- Fully customizable colors, line styles, label positioning, and zone transparency
Useful for gauging intraday range potential, setting realistic targets, identifying overextended moves, and filtering entries near volatility extremes.
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