OPEN-SOURCE SCRIPT
Descriptive Statistics [Range, Interquartile Range, Range Ratio]
This indicator compares two measures of price spread: Range and Interquartile Range (IQR). It is designed to describe market structure and volatility without predicting direction.
Range measures the total distance between the highest and lowest values in the dataset. It captures the full extent of price movement, including extreme spikes and wicks.
IQR (Interquartile Range) measures the spread of the middle 50% of data, from Q1 to Q3. It represents the core structure of price movement while reducing the influence of extreme values.
What it shows
1. Range: The total observed price movement over the selected period.
2. IQR: The spread of the central portion of price data (middle 50%).
3. Range / IQR Ratio: A comparison between total movement and core movement.
Key concept
Range reflects total market movement including extremes.
IQR reflects the typical or core movement of price.
Comparing the two helps describe how much of the market movement is driven by extremes versus structured behavior.
The range can be used to determine significant pivot points that once broken can lead to potential continuation after a pull back. Watch for those pivots at the point where the range starts to remain constant after three or more bars.
⚠️ Note
This indicator is for analytical and educational purposes only and does not provide trading signals or directional predictions.
Range measures the total distance between the highest and lowest values in the dataset. It captures the full extent of price movement, including extreme spikes and wicks.
IQR (Interquartile Range) measures the spread of the middle 50% of data, from Q1 to Q3. It represents the core structure of price movement while reducing the influence of extreme values.
What it shows
1. Range: The total observed price movement over the selected period.
2. IQR: The spread of the central portion of price data (middle 50%).
3. Range / IQR Ratio: A comparison between total movement and core movement.
Key concept
Range reflects total market movement including extremes.
IQR reflects the typical or core movement of price.
Comparing the two helps describe how much of the market movement is driven by extremes versus structured behavior.
The range can be used to determine significant pivot points that once broken can lead to potential continuation after a pull back. Watch for those pivots at the point where the range starts to remain constant after three or more bars.
⚠️ Note
This indicator is for analytical and educational purposes only and does not provide trading signals or directional predictions.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。