Time Range Literal is an optional input for Advanced Math Toolbox Functions and defines start and end dates for a time interval:

MONTHLY, CURRENTMONTH	From the first day to last day of the current month being calculated
WEEKLYx	From the first day to last day of the week being calcualted according to the week defined by x.
DAILY, CURRENTDAY	The current day being calculated
QUARTERLY	The current quarter
YEARLY, CURRENYEAR	The current year being calculated
CURRENTHOUR	The current hour being calculated
CURRENTQTRHOUR	The current Quarter Hour being calculated
CURRENT4HOUR	The current 4 hour period being calculated, only available in OPS SQL
CURRENT5MINUTE	The current 5 minute period being calculated, only availabe in OPS SQL
CURRENTHALFHOUR	The current half hour being calculated, only available in OPS SQL