Before revision:  The decomposition of volatility into several investment horizons and jumps is possible due to a recently proposed jump wavelet two scale realized volatility estimator (JWTSRV).
After revision:  The decomposition of volatility into several timescales approximates the behaviour of traders at corresponding investment horizons. The proposed methodology is moreover able to account for impact of jumps due to a recently proposed jump wavelet two scale realized volatility estimator (JWTSRV).