This factor measures the proximity of a stock to its 52-week high or 52-week low. The 52 weeks price range is calculated as:

$$\mathrm{Price\; Range}=\frac{(\mathrm{current\; price}-\mathrm{52\; week\; low})}{(\mathrm{52\; week\; high}-\mathrm{52\; week\; low})}$$