Hi Tejay,

The decision of what ranges to use is entirely subjective and up to the analyst. Each analyst will be interested in persistence in time horizons unique to their individual analytical work seeking a signal from amongst the noise. That said, Hurst developed rescaled range analysis to look at very long term data on the level of the Nile river. But in a world of high frequency trades being executed in picoseconds, a minute seems like an eternity. If pressed for a recommendation I would say that if your consciousness can comprehend an insight for a chosen time scale (picosecond all the way up to millenia) then you should be able to use rescaled range analysis. The conditional factor here is not the length of time, but whether or not there is meaningful data in dividing the time frame up into ever smaller bits of time.

Hope that helps!

Jason