true_range

Parameters

True Range - true_range()

Measures the true range of price movement including gaps.

None - uses high, low, and previous close

Formula

True Range = MAX(
    high - low,
    |high - previous close|,
    |low - previous close|
)

Examples

// current bar range exceeds true range
(high - low) > true_range();

// strong volatility expansion
true_range() > sma(true_range(), 14) * 2;

// gap up detected
true_range() > (high - low) * 1.5;

// use with ATR for normalized volatility
true_range() > atr(14) * 1.5;

Returns

Float value representing the true range (always positive or zero)