Works best as an intraday indicator
Background black & line green = Long VIX
Background black & red line = No trade
Background orange & line green = Consider selling
Background orange & line red = Short VIX
Modified version of ATR Pips
The indicator's value is a third of the daily range which is good to use as a stop loss value for intra day scalping on markets such as index futures and forex.
It's good for detecting and confirming inflection points in the market.