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Technical analysis

Average True Range

Also: ATR

Average travel including gaps. The most useful tool for sizing.

In the chapter

VIIIVolatility and bands

It announces movement, never direction

From the same chapter

SqueezeBollinger fits inside Keltner. It anticipates expansion, not direction.
Walking the bandPrice hugging the band through a trend. Selling every touch is the classic mistake.
BandWidthHow wide the bands are versus their average. Turns «they look narrow» into a number.