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True Range

The True Range measures the range of movement of the price that has occurred in the bar (based on the timeframe) of bargaining as the difference between the HIGH price and the LOW price, or (H-L). It is therefore a very immediate indicator of volatility that, to compensate for the measurements of days in which there are large excursions in one direction (days inside), ONLY considers the major data among the following 3 measurements:


     

  • difference between HIGH and LOW of the bar;

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  • difference between CLOSE of the previous bar and LOW of the current bar;

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  • difference between CLOSE of the previous bar and HIGH of the current bar.