This is just an easy way to visualize what the market's performance is (in price or percent) in any given session for any chosen time frame. The magnitude of price moves are not the same today as they were 50 years ago, which is why I included the percent selection to better compare historical movements. Time frame selections are Daily, Weekly, Monthly, Quarterly,...
This indicator builds on the idea of the Average True Range (ATR) as a way of measuring volatility. It uses two different ATRs to show a shift in market volatility.
It is mainly composed of two moving averages of ATR. One fast moving, which looks back at the previous 5 periods. One slow moving, which looks back at the previous 21 periods. Both ATRs have been...
This indicator was originally developed by Jayanthi Gopalakrishnan (Stocks & Commodities, V.19:1 (January, 2001): "Gopalakrishnan Range Index").
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