Range

The Range tool allows users to quickly gauge price volatility on the desired timeframe, helping them to best assess current price movement and create reasonable expectations for price action when considering their risk management.

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Average True Range (ATR) is a calculation that measures the volatility of an asset's price movements over a specified time period. It is used by traders to gauge volatility and potential price fluctuations in order to make informed decisions.

ATR is calculated by taking the average of the true ranges, where each true range is the greatest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close.

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Range shows the ATR for the desired timeframe over a short, regular, long, or extreme lookback period. Users can select how far they want to look back on their selected timeframe to measure volatility. Shorter lookback periods fluctuate greatly based on recent price movement, while longer periods are more consistent and give a good overview of typical expected volatility for the selected timeframe.

Range displays ATR as a normal measure of price as well as as a percentage of current asset price to help best easily recognize volatility. Profit and loss are earned as a percentage of position size, so this is key in having accurate expectations when evaluating risk.

Use the Range percentage value in tandem with the outputs of the other tools on the dashboard to quickly understand where price is in its trend relative to the overall move and expected profit and loss based on volatility.