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Technical Indicators

Open Range Position Index

The Open Range Position Index characterizes the volatility of a security relative to its opening price over a period. It is similar to the Close Range Position Index, which performs this analysis relative to the closing price.

It is used to confirm the results of other volatility indicators such as the Standard Deviation or the Average True Range.

Calculation Method

ORP index = Moving Average of period P of 2 * AbsoluteValue(O - (H + L) / 2) / (H - L)

Example

Example
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