Usage:
Front side trading: In bumppy market. Use this oscillator to find the top and the bottom of the market. When the hist comes to green, you can find the market bottom by the lowest blue line. When the hist comes to red, the highest red line may help you to find the possible market top.
Back side trading: red line for long trend,blue line for short...
Bars of largest range (volatility)
* see moments of strongest price action immediately
* colored & upDown by candle color
* amplifier: you see only the bull runs, and subsequent dumps
Very nice on the 5 years scale of BITSTAMP:BTCUSD - nothing comparable to 2013 has happened yet.
Internals:
squared_range = pow(high-low, 2)
That is...