DESCRIPTION
The Range Spike is an indicator used to measure intraday volatility by comparing the current True Range to the Average True Range (ATR).
It is calculated by dividing the DTR/ATR(period) and is expressed as a quotient.
For example, if the current price range is two times greater than the average range for the past 14 days, then the Range Spike would be 2.0. This indicates that the current period’s price range is larger than the trialing average and may suggest increased volatility or a potential breakout.
The Range Spike can be used to identify periods of increased volatility and can also be used as a filter on a watchlist to identify stocks that are experiencing unusual price ranges. Additionally, it can be used as a market volatility monitor to assess overall market conditions.
GOOGLE SHEETS FORMULA
=(MAX(GOOGLEFINANCE(B1,"HIGH"),GOOGLEFINANCE(B1,"CLOSEYEST"))-MIN(GOOGLEFINANCE(B1,"LOW"),GOOGLEFINANCE(B1,"CLOSEYEST")))/AVERAGE(ARRAYFORMULA(QUERY(TRANSPOSE(ABS(QUERY(QUERY({QUERY(GOOGLEFINANCE(B1,"all",TODAY()-30, TODAY()),"SELECT Col3, Col4 ORDER BY Col1 DESC LIMIT 14"),QUERY(GOOGLEFINANCE(B1,"Close",today()-30, today()),"SELECT Col2 ORDER BY Col1 DESC LIMIT 14 OFFSET 1 LABEL Col2 'Closeyest'")}),"SELECT Col1-Col2, Col1-Col3, Col3-Col2 "))),"SELECT max(Col"&JOIN(",max(Col",row(indirect("A2:A15"))&")"))))SPREADSHEET
