LazyBear

Range Identifier [LazyBear]

---- May 05 2015 -----

Added support for filtered ranges:
RID V3 : http://pastebin.com/Z11JYVQK

RIDv3 has full backward compatibility (!?), meaning all my descriptions below still apply for V3.
-- In addition, I have added a NON-OVERLAY mode, which can be put in its own pane, that shows the number of bars in the current range.
-- in Overlay mode, you can switch on/off filtering ranges based on the bar count.

Sample chart:
snapshot

---- April 30 2015 -----

Updated the source to show a connected Midline only when ConnectRanges option is enabled.
Updated src: http://pastebin.com/xgweVbrC

Sample chart:
snapshot

---- Original Desc ----

This is a simple indicator that highlights the price ranges. Very helpful in determining a breakout.

There are many ways to incorporate this in to your strategy. One simple idea could be to buy if the price breaks above a range, when above the specified EMA, and to SELL when it breaks down from a range below the EMA.

All options are configurable. Alerts can be setup using the specified plot names.

By default it shows only the ranges, but can be configured to show the full "channel". Chart below shows connected ranges with highlights ON.
snapshot

Range highlighting can be turned OFF. Chart below shows that:
snapshot

Note for the pine coders:
As you probably noticed in the charts above, single range is showing 2 colors(red/green). Fill() doesn't accept a series for colors, so I worked around this using two fill() statements with a moving DUMMY line, to get this mixed color effect.

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
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//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
//
study("Range Identifier [LazyBear]", shorttitle="RID_LB", overlay=true)
connectRanges=input(false, title="Connect Ranges")
showMidLine=input(false, title="Show MidLine")
lengthEMA=input(34, title="EMA Length")
showEMA=input(true, title="Show EMA")
hc=input(true, title="Highlight Consolidation")
e=ema(close,lengthEMA)
up = close<nz(up[1]) and close>down[1] ? nz(up[1]) : high
down = close<nz(up[1]) and close>down[1] ? nz(down[1]) : low
mid = avg(up,down)
ul=plot(connectRanges?up:up==nz(up[1])?up:na, color=gray, linewidth=2, style=linebr, title="Up")
ll=plot(connectRanges?down:down==nz(down[1])?down:na, color=gray, linewidth=2, style=linebr, title="Down")
dummy=plot(hc?close>e?down:up:na, color=gray, style=circles, linewidth=0, title="Dummy")
fill(ul,dummy, color=lime)
fill(dummy,ll, color=red)
plot(showMidLine?mid:na, color=gray, linewidth=1, title="Mid")
plot(showEMA?e:na, title="EMA", color=black, linewidth=2)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

LazyBear PRO
2 years ago
Some interesting ranges :)

BTCUSD ranges before the bull run
snapshot


GOOGL broke above the range
snapshot


YHOO at the bottom of its range
snapshot


EA testing the range top
snapshot
+2 Reply
2use
2 years ago
Very useful! First!
Reply
LazyBear PRO 2use
2 years ago
Thanks
Reply
yoshio.kodama.90
2 years ago
Please do to the middle line is visible only in the areas of Range and not on the entire chart
http://jpegshare.net/code/e1/95/e19560bf21da7d5125effbb07e9f6330.gif.html
+1 Reply
LazyBear PRO yoshio.kodama.90
2 years ago
Here you go. Updated source here -> http://pastebin.com/xgweVbrC

snapshot
+2 Reply
yoshio.kodama.90 LazyBear
2 years ago
Many Thanks )
+1 Reply
Shepard PRO
2 years ago
Very nice. Thanks for your hard work.
+1 Reply
LazyBear PRO Shepard
2 years ago
yw :)
Reply
yoshio.kodama.90
2 years ago
how about a filter "area in which at least X bars" ?
For example at least 5 bars Range
http://jpegshare.net/15/12/1512b6bc6453af02540353f2c83a4077.gif.html
Reply
LazyBear PRO yoshio.kodama.90
2 years ago
This cannot be done now, using the documented APIs, definitely not in realtime.
Reply
LazyBear PRO LazyBear
2 years ago
May be another pane showing the count of bars inside the range and marking the invalid ones...this might work.
Reply
yoshio.kodama.90 LazyBear
2 years ago
in this case .... maybe possible to realize color setting?
For example, if the filter is set to 5 bars in range.
Zones in which less than 5 bars are painted a dull color, and areas where the 5 bars and more, painted a bright color
Reply
LazyBear PRO yoshio.kodama.90
2 years ago
I really like the features you are suggesting :)

Here's an updated version: http://pastebin.com/Z11JYVQK (I am gonna release this as a separate indicator as the feature set delta from original has exploded!)

Sample chart:
snapshot


RIDv3 has full backward compatibility (!?), meaning all my descriptions above still apply for V3.
-- In addition, I have added a NON-OVERLAY mode, which can be put in its own pane, that shows the number of bars in the current range.
-- in Overlay mode, you can switch on/off filtering ranges based on the bar count.

Lot of customization possible, hope this helps you in your trades.
+1 Reply
yoshio.kodama.90 LazyBear
2 years ago
Thank you for your work! )
Reply
LazyBear PRO yoshio.kodama.90
2 years ago
yw :)
Reply
telepatico LazyBear
9 months ago
Any reason why this V3 is not plotting right on the chart and piled up just on the top?
Reply
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