Path LengthThe path length is calculated by added the lengths of each of the lines connecting either last periods close to open to low to high to close, or close to open to high to low to close, which ever is the highest. The vertical (price) step is scaled so that the average movement (along the whole of the chart) has a length of 1. And this quantity is divided by four so that one time period moving with a price movement in a straight line, has a path length of 1.
Since the variation in the path length very rapid, we smooth it using a (simple) moving average of a given period, which may be editted using using the edit dialog box.
The Path length shows how wiggly the symbols price movement is at any time, and is related to the fractal dimension of the symbol movement.
Sudden jump in path length signal a period of rapid changes in price, which may preceed a reverse of a trend.