Indicators: Exponential Range Average & Deviation Offset

[Automated-Trading]

Exponential Range Average & Deviation Offset:

An exponential moving average of the true range and the offset of its average deviation

Author: Fernando Carreiro

[Alireza]

Thank you Fernando for this great indicator.

I use this method to recognize market volatility and range conditions. When the red line is below the blue line, it indicates low volatility and the potential for a range-bound market. Conversely, when the red line is above the blue line, it suggests high volatility.

Additionally, checking this on a higher time frame can provide an extra layer of confirmation.