IV Rank as a Label (Top Right)

IV Rank (HV Proxy) – Label

Displays an IV Rank–style metric using Historical Volatility (HV) as a proxy, since TradingView Pine Script does not provide access to true per-strike implied volatility or IV Rank.

The script:

• Calculates annualized Historical Volatility (HV) from price returns
  
• Ranks current HV relative to its lookback range (default 252 bars)
  
• Displays the result as a clean, color-coded label in the top-right corner
  

Color logic:

🟢 Green: Low volatility regime (IV Rank < 20)
🟡 Yellow: Neutral volatility regime (20–50)
🔴 Red: High volatility regime (> 50)

This tool is intended for options context awareness, risk framing, and volatility regime identification, not as a substitute for broker-provided IV Rank.

Best used alongside:

• Options chain implied volatility
  
• Delta / extrinsic value
  
• Time-to-expiration analysis
  

Note: This indicator does not use true implied volatility data.