RIND: Comparing Intraday and Overnight Price Ranges

Summary

RIND is a range indicator that compares the daily high-to-low range with the gap between the current close and the previous close. Its stated interpretation is that larger intraday movement relative to the interday change can signal that a trend is ending, while lower readings may indicate the beginning of a trend. The document describes the indicator’s purpose and lists seven configurable inputs: calculation period, smoothing period, calculation method, and four levels.

The calculation description refers to moving averages and period highs and lows, but the equations themselves are missing from the text. As a result, the precise construction and use of the four levels cannot be reconstructed from this document alone. It offers no chart examples, market tests, or performance evidence, so its trend-transition interpretation should be treated as a proposed heuristic rather than a validated signal. The description also does not specify instruments, timeframes, or how to trade or manage risk around the indicator.

Key ideas

• RIND compares the daily high-to-low range with the close-to-close change between sessions.
• High readings are described as possible signs that the current trend is ending.
• Low readings are described as possible signs that a new trend is beginning.
• The indicator has configurable period, smoothing, method, and four threshold levels.
• The equations are incomplete, and the document provides no empirical validation or trading rules.

Tags

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