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Technical Studies Reference


Range Bar Predictor

This study calculates and displays the projected High and Low for Range Bars. The Range Bar types are selected via Chart >> Chart Settings >> Main Settings >> Bar Period Type. The Renko Bar types are listed below. They can only be used on Intraday Charts.

Let \(H_t\) and \(L_t\) denote the High and Low Prices, respectively, at Index \(t\). Let \(r\) denote the Setting for the Range Bar (controlled via Chart >> Chart Settings >> Main Settings >> Setting) and let \(s\) denote the Tick Size.

We denote the Predicted High and Predicted Low Prices at Index \(t\) as \(H_t^{(P)}(r,s)\) and \(L_t^{(P)}(r,s)\), respectively. These are calculated for the last chart bar only as follows.

\(H_t^{(P)}(r,s) = L_t + r \cdot s\)
\(L_t^{(P)}(r,s) = H_t - r \cdot s\)

Inputs

  • This study has no 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.

Range_Bar_Predictor.235.scss


*Last modified Friday, 03rd April, 2020.