Narrow Range and Wide Range Indicators for TradeStation

The narrow range and wide range indicators are designed to detect when the market is contracting or expanding. Using these indicators traders can identify markets where the trading range is the lowest, or highest, trading range for a specific number of bars.

The range, which can be calculated from a single bar or over multiple bars, can be derived from the high and low of the bar if searching for narrow/wide range bars or from the open and close of the bar if looking to identify narrow/wide range bodies.

As well as identifying when the range is at its highest or lowest our indicators also calculate the number of consecutive bars the range has expanded or contracted potentially increasing the significance of the contracting/expanding range being detected.

Our narrow range and wide range indicators can be used to detect and highlight bars which meet a specific period of contraction or expansion within a chart and also be employed to scan multiple symbols in TradeStations RadarScreen or scanner.

In addition to the standard indicators the narrow and wide range indicators include oscillator indicators to display the range being calculated on a bar by bar basis.

Included within these indicators are multiple settings for customizing the indicators function and appearance and when to be alerted to potential trading opportunities.

100% Money Back Guarantee
You can try these indicators for 30 days risk free and evaluate them for yourself within TradeStation. If after purchasing these indicators you decide they are not right for you just let us know within 30 days for a full refund.

Screenshots
The screenshot below shows the narrow range indicator applied to a chart. The indicator is set to identify bars where the trading range is smaller than the trading range of the previous 6 bars, more commonly known as a narrow range 7 (NR7) bar.

In the GM chart below the narrow range indicator is set to identify when the 5 bar trading range is the lowest it has been for the last 40 bars. Additionally the chart includes the narrow range oscillator displaying the 5 bar trading range and highlighting when a bar meets the narrow range criteria.

The next chart shows the wide range indicator set to identify bars where the range has expanded to be the highest range of the last 7 bars (WR7).

The range can also be calculated from the body of the bar, form the open to the close, instead of from the high and low. In the DIS chart below the wide range indicator is highlighting bars where the body of the bar is the widest it has been for the last 40 bars. The chart also includes the wide range oscillator indicator.

Additional Information
The narrow/wide range indicators include multiple settings for adjusting the type and intensity of the range contractions/expansions detected.

When applied to RadarScreen the narrow/wide range indicators provide additional information.

• Narrow Range/Wide Range - displays the range value for the current bar.
• NR Count/WR Count - displays for how many consecutive bars, inclusive of the current bar, the current range has been the lowest/highest.
• NR Consec/WR Consec - displays for how many consecutive bars the range has contracted or expanded.

The narrow range and wide range indicators applied to a RadarScreen.

Standard Indicator Features

• Various inputs and settings to help customize and optimize each indicator.
• Can be applied within TradeStation using various tools, including charts, RadarScreens and scanner.
• Option to use TradeStation sound, message and email alerts.
• Includes PDF manual.

Delivery
You should expect to receive your order within 1 working day via email.

Continued Support and Updates for a Minimum of 12 Months
All our products include full support and updates for at least 1 year so if you have any problems or require any additional information you can contact us for assistance.

If you have any questions about this, or any other product we offer, please contact us.