This script helps you evaluate the fair value of an option. It poses the question "if I bought or sold an option under these circumstances in the past, would it have expired in the money, or worthless? What would be its expected value, at expiration, if I opened a position at N standard deviations, given the volatility forecast, with M days to expiration at the...
Managing expectation is important for price action traders.
This indicator mainly for intraday reference, and it plots the price change/ volatility statistics on a bar-to-bar basis, with the marking of +/- 1 and 2 sigma SD .
The user can refer to the historical volatility to manage their expectation of the velocity of price action by referring to these statistics.