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Trading Ranges Testing Dialog Box

There are eight main ways that prices can break out of a trading range. Each is described below.

First, select the time period for the test.

Then enter the Total Bars, Range Bars, and % Variation for the test. These values are explained in the Trading Range section.

Then choose a method for exiting the range:

Price Break Up

 

A Price Break Up occurs when the high of the bar that breaks out of the range has cleared the testing range high figure by the percent that you enter.

Price Break Down

 

A Price Break Up occurs when the low of the bar that breaks out of the range has cleared the testing range low figure by the percent that you enter.

Breakaway Gap Up

 

A Breakaway Gap Up occurs when the low of the bar that breaks out of the range is above the high of the last bar in the range and the close of the bar that breaks out of the range is above the high of the range.

Breakaway Gap Down

 

A Breakaway Gap Down occurs when the high of the bar that breaks out of the range is below the low of the last bar in the range and the close of the bar that breaks out of the range is below the low of the range.

Breaklap Up

 

A Breaklap Up occurs when the low of the bar that breaks out of the range is above the close of the last bar in the range and the close of the bar that breaks out of the range is above the high of the trading range.

Breaklap Down

 

A Breaklap Up occurs when the high of the bar that breaks out of the range is below the close of the last bar in the range and the close of the bar that breaks out of the range is below the low of the trading range.

Thrust Bar Up

 

A Thrust Bar Up occurs when the range of the bar that breaks out of the range has at least twice the range of the range of the trading range, the volume on the bar of the breakout is greater than the volume of the previous bar, and the close of the bar that breaks out of the range is in the upper third of the range.

Thrust Bar Down

 

A Thrust Bar Down occurs when the range of the bar that breaks out of the range has at least twice the range of the range of the trading range, the volume on the bar of the breakout is greater than the volume of the previous bar, and the close of the bar that breaks out of the range is in the lower third of the range.