Green Up Arrow (▲): Indicates increasing volatility with a positive value. Red Down Arrow (▼): Indicates decreasing volatility with a negative value. Labels with Arrows:
label.new is used to create arrows with the label.style_label_up or label.style_label_down styles. The numerical value of the volatility is displayed beside the arrow using str.tostring. Label Position:
For increasing volatility, the green arrow is placed near the high of the candle. For decreasing volatility, the red arrow is placed near the low of the candle. Text Format:
Includes the arrow symbol and the volatility value (formatted to 4 decimal places). How It Works: You’ll see green upward arrows for increasing volatility and red downward arrows for decreasing volatility. Each arrow includes the exact value of the Bollinger Bands width at that moment.