The Options HV/IV indicator helps in comparing the Scripts Historic Volatility with Implied Volatility (provided by user). The Indicator creates 5 zones, starting from the bottom
Zone 1 - Very Cheap Zone 2 - Cheap Zone 3 - Fair Zone 4 - Expensive Zone 5 - Very Expensive
The location of the Implied Volatility (Blue line) in the corresponding zone helps in understanding the options pricing as very cheap, cheap, fair, expensive or very expensive. This analysis helps in choosing the correct option strategy when planning options trades.
Use the link below to obtain access to this indicator.