ES-VIX Expected Move - Open based

ES-VIX Daily Price Bands
This indicator plots dynamic intraday price bands for ES futures based on real-time volatility levels measured by the VIX (CBOE Volatility Index). The bands evolve throughout the trading day, providing volatility-adjusted price targets.
Formulas:

Upper Band = Daily Open + (ES Price × VIX ÷ √252 ÷ 100)
Lower Band = Daily Open - (ES Price × VIX ÷ √252 ÷ 100)

The calculation uses the square root of 252 (trading days per year) to convert annualized VIX volatility into an expected daily move, then scales it as a percentage adjustment from the current day's open.
Features:

Real-time band calculation that updates throughout the trading session
Upper band (green) extends from the current day's open
Lower band (red) contracts from the current day's open
Inner upper band (green) at 50% of expected move
Inner lower band (red) at 50% of expected move
Middle Inner upper band (green) at 80% of expected move
Middle Inner lower band (red) at 80% of expected move

Information table displaying:

Current ES price and VIX level
Daily Open
Expected move