range_stat

19 Şub 2023

A basic statistic to describe "ranges". There are three inputs:

- short range
- long range
- moving average length

The output is a ratio of the short range to the long range. In the screenshot example, the short range is a single day (bar) and the long range is five days. A value near "1" would mean that every day entirely fills the five day range, and that a consolidation is likely present. A value near 0 would mean that each day fills only a small portion of the five day range, and price is probably "trending".

The moving average length is for smoothing the result (which also lags it of course).

The mean, and +- 2 standard deviations are plotted as fuchsia colored lines.

19 Şub 2023

Sürüm Notları

renamed variable and fixed chart