Good One! Been thinking of doing this with volatility - probably true range in order to compare actual spot volatility to the implied volatility that derives from options pricing. This expresses a rank within a range and one could also calculate the percentile (more complex) where with length 100, how many samples fall out above and below the current value. Anyhow the Implied Vol IVR (this ranking method) and IVP are all published so can be compared as to accuracy of tracking. Would save me a lot of time as ALL of my trades are based partly on the volatility relationship history to now. Rank is easier but outlying spikes can skew it where with percentile a 10 times normal spike is just another value greater than current. Thanks for this it will save me some head scratching!
@jaktrader, that would be unlikely, as it would generate too much of a overhead in the bandwidth, ex imagine lots of users pooling data from the 5min from the weekly, it would be too much data requested for TV to handle