Impl Volty- Osc (Indicator)Analysis Techniques & Strategies
Impl Volty- Osc (Indicator)| Name | Expression | Default | Description |
| FastLength | Numeric | 5 | Number of bars to include in calculation of the fast (shorter) moving average. |
| SlowLength | Numeric | 20 | Number of bars to include in calculation of the slow (longer) moving average. |
| ColorNormLength | Numeric | 20 | Number of bars over which to normalize the indicator for gradient coloring. |
| UpColor | Numeric | Yellow | Color to use for indicator values that are relatively high over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| DnColor | Numeric | Magenta | Color to use for indicator values that are relatively low over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| GridForegroundColor | Numeric | Black | Color to use for numbers in RadarScreen cells when gradient coloring is enabled, that is, when both UpColor and DnColor are set to non-negative values. |
Impl Volty - Osc is an options-related indicator that plots difference between the fast and slow moving averages of implied volatility. The moving averages themselves are not plotted.
When you note the relative position of the 2 averages: the short moving average above the long moving average would yield a positive Oscillator value; the short moving average below the long moving average would yield a negative Oscillator value. Calculating the difference between the two averages and plotting this as an oscillator makes extreme positive and negative values stand out as possible buying or selling opportunities.
| Number | Name | Default Color | Description |
| Plot1 | IVOsc | Yellow/Magenta | Plots the oscillator value. |
| Plot2 | ZeroLine | Dark Green | Plots a reference line at zero. |
When applied to a chart, this indicator displays two plots in a separate subgraph from the price data.
Set either UpColor and/or DnColor to -1 to disable gradient plot coloring. When disabled, Plot1 color is determined by settings in indicator properties dialog box. Plot2 (ZeroLine) color always comes from indicator properties dialog box.
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