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Technical Studies Reference

True Range

This study calculates and displays the True Range of the price data at each Index.

Let the High, Low, and Closing Prices at Index \(t\) be denoted as \(H_t\), \(L_t\), and \(C_t\), respectively. The True Range at Index \(t\) is denoted as \(TR_t\), and we compute it as follows.

\(\displaystyle{TR_t = \left\{ \begin{matrix} \max\{H_0 - L_0, |H_0 - C_0|, |L_0 - C_0|\} & t = 0 \\ \max\{H_t - L_t, |H_t - C_{t - 1}|, |L_t - C_{t - 1}|\} & t > 0 \end{matrix}\right .}\)


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*Last modified Monday, 03rd October, 2022.