What are the uses of a XmR chart?
An XMR chart is a visual representation of the price and other metrics over a specific period of time. These charts are a type of control chart used to monitor business or industrial processes, and they are valuable tools for investors, traders, and analysts who need to analyze price trends and other data to make informed decisions.
The XMR chart consists of two charts: the X chart, which shows the data point being measured, and the mR chart, which shows the Moving Range between consecutive data point measurements(upper bound and lower bound value). The upper and lower bounds on the XMR chart provide information about the natural process limit, allowing for better decision-making.
In our platform for generating an XmR chart, we need 3 metrics and one dimension. Additionally to this, we can customize the range, labels, and metric bounds color!
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