Normal Range (ProbabilityMap)
DisclaimerInput Information
| Name | Expression | Default | Description |
| VolatilityLength | Numeric | 21 | Number of bars used to calculate the symbol's volatility. |
| PriceRows | Numeric | 75 | Number of rows in the ProbabilityMap grid. |
| BarColumns | Numeric | 75 | Number of price bars in the ProbabilityMap grid. |
Market Synopsis
The Normal Range ProbabilityMap study creates a grid, based on the inputs PriceRows and BarColumns that is colored based on the expected normal range of prices. The Normal Range ProbabilityMap calculates the probability of the price intersecting any point on the grid, based on the volatility of symbol and the time remaining (measured in columns) to that point.
To properly view the ProbabilityMap study in the charting application, customize the Chart Analysis window and add blank space to the right of the chart. For instructions, see Adding Space to the Right of the Last Bar.
The Normal Range ProbabilityMap is written to display only on charts whose data interval is greater than or equal to daily.