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Relative Candle Volatility & Directionality Index

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This is an enhanced (closed-source) implementation of the Relative Candle Volatility Index (RCVI), with a Relative Candles Directionality Index (RCDI) added.

When the RCVI switch significantly positive, it indicates a sudden increase in volatility ; whereas, when the RCVI switch significantly negative, it indicates a sudden decrease in volatility -- in relative to the (just prior) market trend.
A positive (green) RCDI indicates a net positive price trend, while a negative (red) RCDI indicates a net negative price trend.

Buy/Sell strategy circle-markers, derived base on the interaction between the RCVI and the RCDI , are also introduced in this edition.
The parameters should be manually "history-matched", for a particular chart and time-frame, for the best result.

RCVI QUICK GUIDE:

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Note:
In no way is this intended as a financial/investment/trading advice. You are responsible for your own investment decisions and trades.
Please exercise your own judgement for your own trades base on your own risk-aversion level and goals as an investor or a trader. The use of OTHER indicators and analysis in conjunction (tailored to your own style of investing/trading) will help improve confidence of your analysis, for you to determine your own trade decisions.

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Please check out my other indicators sets and series, e.g.

LIVIDITIUM (dynamic levels),
AEONDRIFT (multi-levels standard deviation bands),
FUSIONGAPS (MA based oscillators),
MAJESTIC (Momentum/Acceleration/Jerk Oscillators),
PRISM (pSAR based oscillator, with RSI/StochRSI as well as Momentum/Acceleration/Jerk indicators),
PDF (parabolic SAR /w HighLow Trends Indicator/Bar-color-marking + Dynamic Fib Retrace and Extension Level)
and more to come.

Constructive feedback and suggestions are welcome.

~JuniAiko
(=^~^=)v~

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Updated input descriptions.

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Introduced RCVI- and RCDI-softening factors.

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Refactored RCDI Script

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Added Alert conditions.

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Set Default Confirmation Period to only "1".
Users can adjust this parameter for a particular chart and time-frame to reduce false-positives wrt to historical trend, before proceeding to use to predict next move, etc.

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Plot titles are now made more descriptive to make it easier to define Alerts.

Certain conditions base were implemented in my Strategies, which have substantially boosted their profitability, viz.:

Increasing trading activities when RCVI is above the upper threshold.
Stop all trading activities when RCVI drops below the lower threshold.
Reduce score-threshold to register a buy order when RCDI is bullish and above 0.5.
Reduce score-threshold to register a sell order when RCDI is bearish and below -0.5.

See also:
AEONDRIFT-K