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.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.