Average Range Levels from Period Opening Prices
Summary
The Average Range indicator sets reference levels around the opening price of a selected period. It describes four bands: two at half the average range above and below the period open, and two at the full average range above and below it. The period can be annual, monthly, weekly, or four-hourly, so the same calculation can frame price movement over different horizons.
These levels can provide a visual context for how far price has moved relative to a period-based average range. The document does not explain how that average is calculated, how the indicator handles incomplete periods, or how a trader should use the bands to enter or exit positions. It provides no backtest, market examples, or performance evidence, so the levels should be understood as reference bands rather than a validated trading strategy. The page also includes unrelated promotional text and identifies the indicator as a translation of external code.
Key ideas
- The indicator anchors its levels to the opening price of a selected period.
- Half-range bands sit above and below the period open.
- Full-range bands sit farther from the open at one average range in each direction.
- Supported reference periods include annual, monthly, weekly, and four-hour intervals.
- The description gives no trading rules or performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.