What does it do? And what do the pink colours mean? Thanks guys.
Calculates the volatility as a ratio of true range to average true range. If that value is above the required level, then it uses the color for up. If that value is bellow the required level, then it uses the color for down. Otherwise it is using the color for neutral. And it does that for all the required time frames
PS: true range is a special case of average true range - it is an average true range with period 1. And since it calculates the true range only for the current bar, then the ratio of true range to average true range can vary wildly (having large values) in the times of elevated volatility
Cheers. What would be the ideal settings for it to be more "sensitive"? As in, if there is a movement in the 1M chart of more than 5 pips, is there anything I can change in the settings to show high volatility for this? Set the Volume Period to 1 perhaps?
Try setting the level up to smaller value and VolPeriod to greater value (if you set the VolPeriod to 1, then it will always be equal to true range - it will never change the color)
Here is this one first (usual set of 3 filter types)
Mladen is there any way we can put this indicator "Vertex Alerts NMC" on the main chart window (like volume is displayed) please?
We can not, sorry. That way of drawing indicators is not available in metatrader