The Range Bands study is a technical indicator which is intended to predict the range of the next bar based on the relationship between current Open and Close prices.
If the next bar opens within the predicted range, one can expect it to remain within that range. If the next bar opens outside the range, prices are likely to continue in the direction of the breakout.
||The expected High price plot.|
||The expected Low price plot.|
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.