What it does
Volatility OHLC estimates historical volatility using all four prices of each bar, in the style of the Garman-Klass/Yang-Zhang family: it combines overnight gaps (close to next open), opening-to-close drift and the high-low range into one annualized volatility figure. Using the full bar makes the estimate more efficient than close-to-close, meaning it reaches a stable reading with fewer bars. It is expressed as an annualized percentage like other historical volatility measures.
How to add it
Click Indicators (ƒx) in the header.
Search “Volatility OHLC” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Prefer it over close-to-close volatility on gapping instruments (stocks with earnings, overnight-driven futures), since it captures the gaps explicitly.
- Read regimes the same way as any HV measure: rising equals expanding risk, low percentile equals compression that often precedes a directional move.
- Compare it with close-to-close volatility: a large gap between the two indicates the risk lives in overnight moves or intraday wicks rather than net changes.
- Use it to calibrate stop distances and option strategy selection with a more complete picture of true bar-level movement.
- Shorter windows are viable than with close-to-close, making it more responsive for tactical decisions.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Periods | number | 10 | 2–500 |
| Market Closed Percentage | number | 0 | 0–0.999 |
| Days Per Year | number | 252 | 1–366 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Vol OHLC | line | #FF5252 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Resize the pane by dragging its divider; collapse it from the legend row when you need the space back.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
Watch out for
- It still measures the past; a calm reading offers no protection against a sudden event gap.
- Bad prints in highs and lows (bad ticks, illiquid sessions) distort it more than close-only estimators.