DESCRIPTION
To gauge momentum within a trading day, traders can analyze the position of the current price relative to the daily true range (DTR).
The DTR is calculated by finding the difference between the “True high and low ” of a stock over a single trading day. By comparing the current price to the DTR, traders can determine whether a stock is trading closer to its daily high or low and use this information to assess its momentum.
GOOGLE SHEETS FORMULA: Current Price Relative To Daily True Range
=(GOOGLEFINANCE(B1,"price")-MIN(GOOGLEFINANCE(B1,"low"),GOOGLEFINANCE(B1,"closeyest")))/(MAX(GOOGLEFINANCE(B1,"high"),GOOGLEFINANCE(B1,"closeyest"))-MIN(GOOGLEFINANCE(B1,"low"),GOOGLEFINANCE(B1,"closeyest")))SPREADSHEET: Current Price Relative To Daily True Range
