OPEN-SOURCE SCRIPT

Range Window Number

191
Short Description
Compares today’s price movement during a selected intraday time window against the same window from previous days.

Full Description
Relative Range Window helps identify whether the market is moving normally, unusually quietly, or unusually strongly during a chosen part of the trading day.

Choose a start point such as market open or a custom time, choose an end point such as now, a fixed number of hours after the start, or a custom time, then select how many previous days to compare against. The indicator shows one percentage number:

100% = current movement is normal
Below 100% = current movement is quieter than usual
Above 100% = current movement is stronger than usual

The comparison can use median/typical range or mean/average range, with median being useful for reducing the effect of extreme news days.





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