Volatility Analysis Indicator
The Volatility Analysis tool provides a comprehensive view of the expected price range movement of the selected instrument. This information can be used to decide which instrument to trade for a specific time of day, as well as to set market appropriate exit levels.
Stop loss and Take profit placement has often been a random choice based on little empirical data. The indicator illustrates the expected price range movement for the selected instrument for the next 15 minutes, 30 minutes, 1 hour, 4 hours and 24 hours.
The information is calculated for specific times of day and days of the week in order to provide the most accurate expected measure of volatility for current market conditions.
So if you have a trade duration in mind, use the above graph to help you set your exit levels appropriately.