In this video, Richard discusses how to use closing ranges to determine if buyers or sellers are in control. Closing ranges represent w. the close is within the range from the high of a bar to the low. If a stock closed right at the high it would have a closing range of 100%.
Daily and weekly closing ranges are very useful for determining relative strength and the conviction of buyers. When paired with volume, you can use it to analyze charts and bases for accumulation and distribution signs. The closing range allows us to imagine the balance between supply and demand and extrapolate the likely winner.
– The TL Team
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Buyers or sellers market