He calculated the average distance the price moves from the open before finding resistance, helping traders set realistic profit targets and stop losses .
This is Crabel's most famous contribution. It involves identifying a specific price range during the first few minutes of the trading day and entering a trade when the price "breaks out" of that range, signaling the day's likely trend. Toby Crabel - Day Trading with Short Term Price...
While the book is out of print and original copies are quite expensive, its principles on and mean reversion continue to influence modern algorithmic trading strategies. He calculated the average distance the price moves
Crabel identified that when the market experiences an unusually tight trading range (the narrowest in 4 or 7 days), it is often a precursor to a massive spike in volatility and a sharp price move. While the book is out of print and
His methods were designed to be purely mechanical, removing emotional bias by providing clear, math-based signals for when to enter a position.
It sounds like you're interested in the work of , specifically his influential book, Day Trading with Short Term Price Patterns and Opening Range Breakout .