Price Range

The Price Range tool draws a vertical bar from a specified low price to a specified high price. The bar displays the range distance in price units or pips and optionally marks the midpoint. It is the vertical equivalent of a ruler for price — giving you an instant quantitative measurement of any price span on the chart. Unlike a simple visual assessment, the tool provides an exact numeric readout that can be used for position sizing, target setting, and volatility analysis.

Use price range measurements to visualize the size of a move, compare volatility across periods, measure ATR-like expansion, or mark the height of a pattern. The endpoints can be dragged to adjust the range and the distance label updates in real time. This live updating makes it easy to explore different price scenarios by moving the endpoints and observing how the measurement changes. The tool is particularly useful for measuring the height of patterns before projecting targets.

On log-scale charts, the visual distance between two price levels differs from linear scale because the price axis scaling is logarithmic. Price Range always reports the actual price difference regardless of scale mode, so your measurements remain accurate. This is critical for analysts who use log scale for long-term charts — the measurement remains quantitatively correct even though the visual appearance changes significantly.

Price Range complements the Date Range tool (horizontal measurement) and the combined Date+Price Range tool (two-dimensional). Use Price Range alone when you only need vertical measurement, such as pattern height or volatility comparison. For comprehensive analysis that involves both time and price dimensions, combine it with the Date Range tool for a complete picture of market structure.

1. 1
   Select Price Range

   Click the Price Range tool from the measurement toolbar.
2. 2
   Click the start level

   Click at the high or low of the range you want to measure.
3. 3
   Drag to the end level

   Drag vertically and release at the opposite extreme. A preview bar shows the measurement as you drag.
4. 4
   Read the measurement

   The range distance displays automatically on the bar in the configured unit.
5. 5
   Adjust endpoints

   Drag either endpoint after creation to adjust the range. The distance label updates in real time.
6. 6
   Configure display

   Use the settings panel to change units, decimal precision, end caps, and midpoint display.

• Measuring pattern height — measure the height of a flag pole, a measured move, or a channel width, then project that distance for price targets. If a flag pole is 200 pips tall, the measured move target is 200 pips from the breakout point.
• Volatility comparison — compare the current price range to the ATR (Average True Range) to gauge relative volatility. A range exceeding 2× ATR suggests an exceptional move that may be exhausting or mean-reverting.
• Session range marking — mark the daily or weekly range to understand price behavior within the current session. Compare the current day's range to the 20-day average to identify expansion or contraction patterns.
• Risk measurement — measure the distance from entry to stop-loss in price terms for position sizing calculations. Combine with account risk parameters to determine appropriate lot or share size using the R:R framework.
• Fibonacci projection reference — use the price range as the base for Fibonacci extension projections. The range high and low define the 0% and 100% levels for extension calculations up to 161.8% and beyond.
• Support/resistance width assessment — measure the width of a support or resistance zone to understand how much price might slip through a level before reversing. Wide zones require larger stop distances.
• ATR proxy for position sizing — measure the 20-day typical range and use that value to set stop distances proportional to recent volatility. This is a common position sizing technique among systematic traders.

Different markets use different units for price measurement. Forex traders measure in pips (the 4th decimal place for most pairs) or points (the 5th decimal place). Stock traders use cents or points. Futures traders use ticks — each contract has a defined tick size. Cryptocurrency traders use the base currency unit. Configure the unit setting to match your market's convention for immediate readability. Reading "175 pips" is more useful than "0.01750" when analyzing forex charts.

The percentage mode is useful for comparing price ranges across different instruments or timeframes. A 200-pip range on EUR/USD at 1.1000 is 1.82%, while the same 200-pip range at 1.0500 is 1.90%. Percentage mode normalizes these differences, making it easy to compare volatility across instruments with different price levels and determine which market is experiencing the most significant move.

For measured move projections: measure the height of the first impulse wave in pips, then project that same distance from the end of the correction. If the first impulse is 150 pips and the correction ends at 1.1050, the measured move target is 1.1050 + 150 pips = 1.1200. Use the Price Range tool to confirm the first impulse height, then use the horizontal line tool to mark the target. This technique works across all timeframes and markets.

For volatility-based position sizing: measure the 20-day average trading range using Price Range on each of the last 20 daily bars, then calculate the average. If the bar height is consistently 80 pips but today's range is already 160 pips mid-session, the market is experiencing 2× normal volatility. Reduce position size by half to maintain the same dollar risk, or wait for volatility to contract before entering a new position.

• 1.Price measurement tools — TradingView Help
• 2.Technical Analysis of Financial Markets — John J. Murphy
• 3.Trading Price Action Ranges — Al Brooks
• 4.The Visual Investor — John J. Murphy
• 5.Volatility-Based Position Sizing — Trading reference
• 6.Measured Move Technique — Technical analysis reference