Range Detector Indicator [Misu] by Fontiramisu

bandsandchannels trendanalysis rangingmarket ranging-market range rangetrading trendtrading supertrend buysignal sellsignal uptrend

█ This indicator shows an upper and lower band based on Highs and Lows.
Depending on this, the indicator interprets a ranging market, an uptrend or a downtrend.

█ Usages:
The purpose of this indicator is to identify when the price is ranging.
It's also used to identify changes in trends, breaking points, and trend reversals.
But it can also be used to show resistance or support levels.

█ Features:
> Price Action Change Alerts
> Price Action Change Labels
> Color Bars
> Show Bands

█ Parameters:
Deviation: A parameter used to calculate pivots.
Depth: A parameter used to calculate pivots.
Activate Range Detection: Check the box to activate range detection.
Band% Offset: A factor that is used to vary the bands offset.

Release Notes:

Screen Update.

Open-source script

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.

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.

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