The Range Indicator, developed by Jack Weinberg, is based on his observation that changes in the average period's intraperiod range (high to low) as compared to the averateg period's interperiod range (close to close) precede the start of a new trend or the end of a current trend.
For additional info on the range indicator, refer to the june 1995 isuse of the technical analysis of stocks and commodities.
The indicator was revised and updated