Volatility indicator based on the article 10 Selling Tips by Thomas Bulkowski.
It has two configurable parameters:
VSO = Multiplier * Avg / Close
Avg = SMA(High,Period) - SMA(Low,Period)
It can be used with the Volatility Stop indicator.
Fig. 1. Volatility Stop oscillator
Fig. 2. Volatility Stop oscillator + Volatility Stop
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22368