The Range Indicator by Jack L. Weinberg
ARTICLE SYNOPSIS ...V.13:06: (238-242): The Range Indicator by Jack L. Weinberg
Here's a new indicator based on the change in a day's trading range as evidence of the start of a new trend in a market.
Markets tend to trade in relatively tight price ranges most of the time; therefore, low daily ranges indicate trading ranges. Prices move to reach toward new levels for a new trading range when a fundamental change has occurred in the supply/demand balance for that commodity. A dramatic change in the daily range relative to the interday ranges indicates that a change in the fundamentals may be present and may be...