Relative Volatility Index

Need a custom indicator - Relative Volatility Index (RVI).

The relative volatility index (RVI) is a volatility indicator that was developed by Donald Dorsey to indicate the direction of volatility. It is similar to the [Relative Strength Index (RSI)], except that it measures the standard deviation of prices changes over a period rather than the absolute price changes. The RVI is plotted in a range from 0 to 100 and is often used as a confirmation for other indicators, and is often used in conjunction with [moving average (MA)] crossover signals.

How is it calculated?

The RVI is calculated in the same way as the RSI but using standard deviation of high and low prices rather than the absolute change in price.

Think this indicator would be super useful as well!

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I third this! This indicator would be a great addition.

I really want this indicator as well!!