J. Welles Wilder's True Range indicator was introduced in his book, Technical Trading Systems. It measures the daily range plus any gap from the closing price of the preceding day.
- Color Selectors: Colors to use for graph elements.
- Display Axis Label: Whether to display the most recent value on the Y axis.
The True Range indicator equals the greater of the following:
- High for the period less the Low for the period.
- High for the period less the Close for the previous period.
- Close for the previous period and the Low for the current period.