BR/AR (momentum gauges): calculation and reading

BR and AR use open, high, low and close prices to gauge the momentum of buyers and sellers; one looks at the previous close and the other at the opening price.

Updated：2026-11-08

Calculation

Within the last N days (default 26):

• AR (popularity indicator) = Σ(high − open) ÷ Σ(open − low) × 100: it takes the opening price as the base and looks at the upward and downward range during the session.
• BR (willingness indicator) = Σ max(high − previous close, 0) ÷ Σ max(previous close − low, 0) × 100: it takes the previous close as the base, so gaps are counted as well.

How to read it

• Both are centered on 100: above 100 means the total upward range is larger than the total downward range, and below 100 means the opposite.
• AR reflects the momentum within the day, while BR also includes gaps; reading the two lines together lets you compare the difference between them.

Limits

BR/AR are calculated from the total price range over a period. They do not include volume and do not predict the future; they cannot be calculated when the denominator is zero.

This article only explains the calculation and how to read a chart. It is not investment advice.