It is sometime confusing that people call readability as textual readability - i.e., a visual and positional property of the code.

What I would consider readability is probably closer to what you might call 'ease of understandability'. For example, how much of the code do i have to keep in my head, in order to make sense of what is on the screen. How much conceptual understanding of the underlying algorithm must I understand before the code can make sense? Is there any special language quirk or knowledge needed to understand the line of code (for example, this is where operator precedence rules often exhibit problems).

I don't care that lines are indented "wrong", or that they use ternary expressions, etc, unless this makes material difference to cause understanding to be more difficult.