Volatility % Bands (O→C)

Volatility % Bands (O→C) is an indicator designed to visualize the percentage change from Open to Close of each candle, providing a clear view of short-term momentum and volatility.

• **Histogram**: Displays bar-by-bar % change (Close vs Open). Green bars indicate positive changes, while red bars indicate negative ones, making momentum shifts easy to identify.
  
• **Moving Average Line**: Plots the Simple Moving Average (SMA) of the absolute % change, helping traders track the average volatility over a chosen period.
  
• **Background Bands**: Based on the user-defined Level Step, ±1 to ±5 zones are highlighted as shaded bands, allowing quick recognition of whether volatility is low, moderate, or extreme.
  
• **Label**: Shows the latest candle’s % change and the current SMA value as a floating label on the right, making it convenient for real-time monitoring.
  

This tool can be useful for volatility breakout strategies, day trading, and short-term momentum analysis.