#### Home >> (Table of Contents) Studies and Indicators >> Technical Studies Reference >> Narrow Range Bar

# Technical Studies Reference

- Technical Studies Reference
- Common Study Inputs (Opens a new page)
- Using Studies (Opens a new page)

### Narrow Range Bar

This study highlights chart bars that are narrower than any of the prior bars in a specified lookback period.

Let the High and Low Prices at Index \(t\) be denoted as \(H_t\) and \(L_t\), respectively. Then we denote the Range of Current Bar at Index \(t\) as \(RCB_t\). \(RCB_t\) is calculated for \(t \geq 0\) as follows.

\(RCB_t = H_t - L_t\)Let the Input **Number of Bars to Compare** be denoted as \(n\). This Input plays the role of a **Length**. Then we compute a value called Narrow Range for each chart bar, and we denote its value for the given Input \(n\) at Index \(t\) as \(NR_t(n)\). We compute \(NR_t(n)\) for \(t \geq 0\) as follows.

For \(t = 0\): \(NR_0(n) = 1\)

For \(t \leq n - 1\): \(NR_t(n) = \left\{\begin{matrix} 1 & RCB_t < \min\{RCB_0,...,RCB_{t - 1}\} \\ 0 & RCB_t \geq \min\{RCB_0,...,RCB_{t - 1}\} \end{matrix}\right .\)

For \(t > n - 1\): \(NR_t(n) = \left\{\begin{matrix} 1 & RCB_t < \min\{RCB_{t - n},...,RCB_{t - 1}\} \\ 0 & RCB_t \geq \min\{RCB_{t - n},...,RCB_{t - 1}\} \end{matrix}\right .\)

The bar with Index \(t\) is highlighted if and only if \(NR_t(n) = 1\).

#### Inputs

#### Spreadsheet

The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through **File >> Open Spreadsheet**.

*Last modified Friday, 05th January, 2018.