The range in trading refers to the difference between the highest and lowest prices of an asset over a specific time period. It is an important indicator that traders use to identify the volatility of an asset and to make informed trading decisions.

To calculate the range in trading, traders can use the following formula:

Range = High price - Low price

For example, if the highest price of a stock over the past week was $50, and the lowest price was $40, the range would be $10 ($50 - $40).

Traders can also calculate the average range over a specific time period by taking the sum of the ranges and dividing it by the number of periods.

Range is an essential tool for traders to understand the volatility of an asset and to identify potential trading opportunities. By calculating and monitoring the range, traders can make informed decisions about when to buy or sell an asset.

To calculate the range of a data set, subtract the smallest value (the minimum) from the largest value (the maximum). The formula is:

Range = Maximum value - Minimum value

For example, if you have the data set {3, 7, 15, 22, 8}, the maximum value is 22, and the minimum value is 3. So, the range would be:

Range = 22 - 3 = 19

The range is a simple measure of dispersion that shows how spread out the values in the data set are. While easy to calculate, the range doesn’t provide insights into the distribution or central tendency of the data. It's useful in identifying the overall variability but can be influenced by extreme values or outliers.