Action Locator is a great tool to find ranging markets and trends. It tells you nothing about the direction of the market, but tracks very well.
Blue bars (above) = There is ACTION in the market -- signals it should be safe to trade
Gray bars (above) = No ACTION - DO NOT TRADE!
Teal bars (below) = There is force behind the ACTION!
Gray bars (below) = Less in the market, be careful!
AUDNZD on the 4HR Time Frame
**ON THE CHART INDICATORS**
- In the Top Panel we have our version of Accumulation and Distribution with an added to Identify a trend in ACC / DIST a little easier and earlier.
- On the Chart we have the Chart version of the Berlin Range Index which changes the Candle Colour to match the conditions of the indicator.
- Below the chart we have our panel version of the Berlin Range Index.
- In the Bottom Panel we have this Indicator, our action locator tool which is also extremely powerful at identifying ranging markets and trends.
**MASTERS OF TRADING**
Many Thanks and Trade Safe!
To request access to this indicator, please use the links provided below
📺 YouTube: https://youtube.com/c/MastersofTrading
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.