Are you talking about 5 minute bars? You would just need to divide the range by the ticksize, this would give you the number of ticks. Where do you want to display the information and what do you need it for?
You could create an indicator that depending on a lookback period determines the minimum, average, and the maximum range. You can plot it in the upper left corner of your chart. Do not think that this helps in trading. what do you want to do with this information?
I know the book of Al Brooks, he certainly does not use this.
I know Al dont use it. He said some bars are Doji bars and some are trend bars. So if you enter on the wrong side you can exit the market on the next bar using information displayed on the rectangle box. For example if you enter on a Doji bar and market against you and you want exit on a trend bar the rectangle box will display how many tick is average a trend bar is and you would know where to get out.
Now I see what you want to do. Why don't you simple colour the bars? Could take one colour for Doji bars and another one for trending bars.
I would not want to say that a wide ranging bar is always a trending bar. If
- the wide ranging bar follows a news release, it is often a balancing bar
- the wide ranging bar does not exceed a trading range, it can be a bar that covers the whole range
First you would need to refine your definition of a trending bar. Here is an exmaple of a definition:
An up-trending bar is a bar which opens near the low and closes near the high, which has an above average range and which makes a new n-bar high! It is important that the trending bar makes a contribution to shift value out of the value area of the auction process. A wide ranging bar, which does not close above or below the prior bars is no trending bar.
See also Jack D. Schwager On Futures, Technical Analysis, Concept of Thrust Bars.
Below is an example of a chart. The ranges are the value areas established by trending bars. The trending bars themselves are bright lime and red, the non trending bars are dark lime and dark red. The dojis are white.
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