If a currency pair’s standard deviation is large, then price values are scattered and the price range is wide. In other words, high volatility. Prices are less scattered and volatility is low for a low standard deviation. So, the Standard Deviation indicator is essentially an indicator of volatility.
The consequence of volatility is double-edged for Forex traders. Increased volatility provides greater income potential. However, there is also a higher chance of markets shifting against you. How much flexibility you like as a trader just depends on your trading style. A swing trader should deliberately search for more competitive markets. Steeper price swings facilitate greater gains over shorter periods.
A trader employing a long-term, trend-following approach would choose a less unpredictable device. Market fluctuations’ ‘noise’ will make patterns more difficult to detect and a trip less comfortable to hold a spot.