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Technical Studies
Reference >> Range Bar Predictor
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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.
Range Per Bar - Standard (in ticks)
Range Per Bar - New Bar on Range Met (in ticks)
Range Per Bar - True (in ticks)
Range Per Bar - Fill Gaps (in ticks)
Range Per Bar - Open=Close (in ticks)
Let Ht and Lt 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.
(P ) (P )
We denote the Predicted High and Predicted Low Prices at Index t as H
t
(r, s) and L
t
(r, s) ,
respectively. These are calculated for the last chart bar only as follows.
(P )
H (r, s) = Lt + r ⋅ s
t
(P )
L (r, s) = Ht − r ⋅ s
t
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 Monday, 03rd October, 2022.
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