Home | Trading Alchemy Manual | Alchemy Functions IndexAlchemyExpandedRange (Function)AlchemyExpandedRange identifies an expanded range bar. If the criteria of an expanded range bar is met, the AlchemyExpandedRange function returns 1, otherwise a -1 will be returned. AlchemyExpandedRange (Length, Rnge) Parameters |
|
Length |
Specifies the number of bars over which the average range is calculated. |
| Rnge | Specifies the number by which the average range is multiplied. |
ReturnsIf the criteria of an expanded range bar is met, the AlchemyExpandedRange function returns 1, otherwise a -1 will be returned. UsageA Largest Range Bar occurs when the high to low range
of the bar is much greater than the average range of the most
recent bars. Many
times this bar becomes an Outside Bar.
The high and low of a Largest Range Bar can act as
resistance or support for the market. |