Definition
#Measures how much of the full high-to-low range is explained by the open-to-close body of the move.
Formula & calculation
#(|Close Price - Open Price| / (Maximum High - Minimum Low)) × 100Units & range
%.
Interpretation
#Higher values indicate a cleaner directional path with less internal retracement relative to the full range.
Practical usage
#Useful for separating cleaner directional windows from choppier ones.
Common mistakes
#Frequent interpretation traps and misuse patterns to avoid when applying this metric.
- Using cleanliness without requiring meaningful price movement.
Timeframe note
#This metric applies to rolling windows such as 5m, 15m, and 60m. The underlying definition stays the same; what changes is the time horizon used to measure it. Shorter windows react faster, while longer windows smooth noise and emphasize broader structure.
5m
Faster response to fresh changes in activity and short-horizon structure.
15m
Balanced view between responsiveness and persistence.
60m
Broader context that is slower but more stable.