Changing the calculation so that we can see what percentage the all time average is of price creates a very interesting chart:
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if barindex >= 1 then a = a + ((tr/open)*100) b = b + 1 c = (a / b) //* open endif return c coloured(128,0,0) as "All Time Average TR as %" |
We can see that the range average percentage drops in rising markets and rises in falling markets. All this is on the DJI.
