The hourly charts offer some of the best chances to latch onto short term trends, especially good for option trades. I primarily use these to find the most persistent trends and ride them out over the shorter timeframes. Price Headley is also keen to the patterns, but some years ago he showed me a very reliable trend with VIX: The 15 minute chart. It is this timeframe that dictates action intraday, and so many times this is a great predictor of price action toward end of day.
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Glad that the VIX on the 15min chart was eluded on. One setup I like to look at for an intra-day entry is a Flexible Grid I setup in the thinkorswim platform; and the 15min VIX is one component of it.
In that grid I also have:
1) Emini SP500 (/ES) (15min) w/%R and trendlines
2) Dollar Index or (/DX) (15min) w/trendlines
3) VIX (15min) w/Bollinger Bands
4) NYSE Tick ($TICK)
5) NYSE Trin ($TRIN) w/20 SMA
I like to look at these indicators in conjuction with the hourly chart for the security for a good entry/exit IF that security's structure is in line. So, the main entry is indicated by the security chart structure/indicators then I will look at that Flxible Grid and determine if I got good EDGE.
It just goes back to the saying I've heard in webinars in that when all rivers are flowing in the same direction, you have more powerful momentum. Also in the current volatility I believe these shorter-term trades are working better for me anyway.