OPEN-SOURCE SCRIPT
Daily & Weekly Closing Range % (Screener Compatible)
Overview
This indicator calculates the Daily Closing Range (DCR) and Weekly Closing Range (WCR) as a percentage. It measures where the price finishes relative to the session's high and low.
This is a staple metric for trend followers and "CANSLIM" style traders (popularized by platforms like Deepvue and MarketSmith) to identify institutional support. A high closing range (e.g., >80%) indicates that despite intraday volatility, buyers were aggressive enough to hold price near the highs.
Key Features
Screener Integration:
Designed specifically to work with the TradingView Stock Screener (Beta). You can now filter your universe for stocks closing in the top 10% or 25% of their range.
Dual Timeframe: Pulls both Daily and Weekly data regardless of the timeframe you are currently viewing.
Clean Visuals: Includes a histogram at the bottom of your chart for quick visual confirmation of price "tightness."
How to use for Screening:
Add this script to your chart.
Open the Stock Screener (Beta).
Add a filter and search for "Closing Range Tracker".
Select Daily Closing Range and set the value to Greater than 90 to find stocks finishing at the dead-highs.
This indicator calculates the Daily Closing Range (DCR) and Weekly Closing Range (WCR) as a percentage. It measures where the price finishes relative to the session's high and low.
This is a staple metric for trend followers and "CANSLIM" style traders (popularized by platforms like Deepvue and MarketSmith) to identify institutional support. A high closing range (e.g., >80%) indicates that despite intraday volatility, buyers were aggressive enough to hold price near the highs.
Key Features
Screener Integration:
Designed specifically to work with the TradingView Stock Screener (Beta). You can now filter your universe for stocks closing in the top 10% or 25% of their range.
Dual Timeframe: Pulls both Daily and Weekly data regardless of the timeframe you are currently viewing.
Clean Visuals: Includes a histogram at the bottom of your chart for quick visual confirmation of price "tightness."
How to use for Screening:
Add this script to your chart.
Open the Stock Screener (Beta).
Add a filter and search for "Closing Range Tracker".
Select Daily Closing Range and set the value to Greater than 90 to find stocks finishing at the dead-highs.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.