During the current volatile markets, we've observed a lot of wide-range bars. For example, in ES V-5000 (constant volume, 5000) chart, some bars can be more than 5 points. In some extreme situations, even 7~8 points observed. Can somebody explain more about the mechanics of these wide-range bars? How do these bars form? What's the implication of these wide-range bars? Thanks.
1) They're indicative of aggressive buying/selling. 2) They can also occur at "obvious" price levels based on prior highs and lows.