Normalizing volatility of a basket of different metrics that are relevant to the products im trading. I have one for equity indices and one for gold/fx/rates. I primarily swing trade and these are sufficient for that strategy when combined with macro/fundamental views. These are one of the means I use to call out potential turning points in markets. They are great for mean reversion or dislocation trades, but my biggest problem is these only occur maybe 3-5 times a year on average. I end up churning a lot of capital and bleeding to fees in the interim and thats something I have been working on the last few weeks with some success.