Impl Volty Extreme (PaintBar)Analysis Techniques & Strategies
Impl Volty Extreme (PaintBar)| Name | Expression | Default | Description |
| MALength | Numeric | 20 | Number of bars to use when calculating the moving average of implied volatility. |
| PctAboveOrBelowMA | Numeric | 15 | Percentage amount above or below the moving average of implied volatility that is considered "extreme", causing a bar to be painted. Enter percentages as whole numbers, not as fractions. For example, for 50% enter 50, not 0.50. } |
| PaintHiExtremes | True/False | True | Set to true to paint a bar when implied volatility is at or above the PctAboveOrBelow MA target. Set to false to not paint the bar for this condition. |
| HiColor | Numeric | Red | Sets the bar paint color for high extremes. |
| PaintLowExtremes | True/False | True | Set to true to paint a bar when implied volatility is at or below the PctAboveOrBelow MA target. Set to false to not paint the bar for this condition. |
| LoColor | Numeric | Yellow | Sets the bar paint color for low extremes. |
Impl Volty Extreme is an options-related indicator that paints a bar when the amount above or below the moving average reaches the specified percentage of the moving average value. Thus, for example, if the input PctAboveOrBelowMA is set to 30, then bars will be painted when implied volatility values greater than or equal to 30% above the average volatility (1.3 times the average), or less than or equal to 30% below the average volatility (.7 times the average), occur.
| Number | Name | Default Color | Description |
| Plot1 | IV Extreme | Red | Paints each bar where the high or low values are reached. |
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