The Close Location Value study finds location of the Close price relative to the bar's range. It is calculated using the following algorithm. Firstly, it finds difference between two values: first one being the difference of Close and Low prices, second one being the difference of High and Close prices. The final result is the ratio of the found value to the bar's range (difference between High and Low).
||The Close Location Value plot.|
||The zero level.|
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.