Wayward1 makes an excellent post for which I agree. I'd like to add that I believe a student of price and volume has much to gain from understanding true range in relation to volume. True range is not indicated in price, one must train their eye. And with lots of volatility, it isn't always easy to make side-by-side comparisons of range. If one is studying a multitude of charts by eye, it may help to have a tool that assists in that task. Using True Range can be invaluable in studying the principle of effort vs result and ease of movement, and also having an indication of volume vs true range for larges-scale scanning of price events. I don't mean Average True Range but daily true range represented the same as volume at the bottom of the chart. This is a tip from David Weis who sometime places it on his charts. You can always get rid of it later if you don't like training wheels.
