Description

• This indicator was introduced by Notis as the name suggests
• Plots two separate lines thus dividing the inconsistency in the market into two parts-upward and downward due to differences in daily high and low ranges

Interpretation

• If daily range is large, then Notis volatility is high
• If daily range is small, then Notis volatility is low

Default Parameters Used/Inputs

• High Line
• Low Line
• Close Line

Returns/Output

Notis volatility of the stock

Formula

NVUp[X]=Max(0,(C[X-1]-L[X]))
NVDn[X]=Max(0,(C[X-1]-H[X]))
X indicates current bar