Studies · Volatility
Gopalakrishnan Range Index (GAPO)
gopalakrishnanRangeIndex · GAPO — the window's high-low range, logged in base period
Drawn in its own panelReads high, low
Hover the chart to read values · practice data: a seeded random walk with no overnight gaps
What it measures
The logarithm of the high-to-low range over the window, divided by the logarithm of the window length. A compressed range reads low and an expanding one reads high.
How traders use it
- Compare the reading to its own recent history rather than to a fixed level.
- Look for a squeeze (unusually low readings) followed by expansion as a sign a breakout is under way.
Parameters
| Name | Value | Default | Allowed | What it does |
|---|---|---|---|---|
| period | 10 | ≥ 2 usual 5–30 | Window length, in bars. |
Good to know
The number depends on the instrument’s price level, so it is not comparable between different instruments.