Range Position: Measuring a Close Within Its Recent High-Low Range

Summary

The Range Position indicator expresses the latest close as a percentage of the high-low range observed over a configurable lookback period. It finds the highest and lowest prices within that period, then measures how far the close lies above the low relative to the full range. A value near the low end indicates that the close is near the period low; a value near the high end indicates proximity to the period high.

The indicator exposes a range period and three configurable levels, though the document does not explain how those levels should be selected or interpreted. It gives the calculation but no trading rules, examples, performance results, or guidance for handling a zero-width range when the high equals the low. The reading is therefore a simple location measure within a recent range, not by itself evidence of trend, reversal, or a profitable signal.

Key ideas

• Range Position measures the close relative to the highest and lowest prices in a selected lookback period.
• The calculation scales the close's location within the range to a percentage.
• The indicator provides a configurable range period and three user-defined levels.
• The document does not specify signal rules or address cases where the range has no width.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.