OPEN-SOURCE SCRIPT
Protrading Range Filter & Labels
ProTrading Range Filter & Labels - Pine Script Indicator
The ProTrading Range Filter & Labels is an advanced trading indicator designed to help traders easily identify key market ranges, filter out noise, and make informed trading decisions. By combining dynamic range detection with visually intuitive labels, this indicator provides a clear picture of market structure, breakout opportunities, and potential trade setups.
Key Features:
Dynamic Range Detection:
Automatically identifies price ranges based on historical price action and volatility.
Helps traders recognize consolidation zones, breakout areas, and key price levels.
Customizable Range Filtering:
Allows traders to fine-tune range sensitivity, filtering out insignificant price movements.
Ideal for trend-following, breakout trading, and avoiding false signals.
Visual Labels for Key Events:
Plots Buy/Sell Labels at potential entry points based on range breakouts and trend conditions.
Highlights range highs, lows, and midpoints for easy reference.
Customizable text and color settings to match trading preferences.
Trend-Based Range Analysis:
Color-coded range zones indicate market sentiment:
Green Zone: Bullish range, signaling upward momentum.
Red Zone: Bearish range, signaling downward momentum.
Neutral Zone: Sideways market, signaling potential breakouts or mean reversion setups.
Breakout & Rejection Alerts:
Detects and signals when price breaks out of the defined range, helping traders spot potential trend shifts.
Identifies price rejections at key levels, signaling possible reversal opportunities.
Multi-Timeframe Support:
Can be used across different timeframes to confirm trends and range structures for higher accuracy.
Custom Alerts:
Notifies traders of key breakout events, trend shifts, and potential entry points.
Ensures timely decision-making without constantly monitoring the charts.
Benefits:
Enhanced Market Structure Clarity: Clearly defines market ranges, helping traders avoid choppy, low-probability conditions.
Better Trade Timing: Identifies optimal breakout and rejection zones, improving entry/exit decisions.
Reduces Noise: Filters out insignificant price movements, focusing on key price levels and trends.
Works Across Markets: Ideal for stocks, forex, crypto, and commodities on any timeframe.
Use Cases:
✔ Breakout Trading – Spot high-probability breakout opportunities and enter early.
✔ Range Trading – Identify strong support and resistance levels for range-based strategies.
✔ Trend Confirmation – Use range analysis to validate trends and avoid false breakouts.
✔ Risk Management – Use dynamic range levels to set stop-loss and take-profit zones efficiently.
The ProTrading Range Filter & Labels is a must-have tool for traders looking to enhance their market analysis, improve trade accuracy, and confidently navigate any market condition. Whether you're trading breakouts, reversals, or trends, this indicator will help you filter out noise and focus on the most important price levels. 🚀
The ProTrading Range Filter & Labels is an advanced trading indicator designed to help traders easily identify key market ranges, filter out noise, and make informed trading decisions. By combining dynamic range detection with visually intuitive labels, this indicator provides a clear picture of market structure, breakout opportunities, and potential trade setups.
Key Features:
Dynamic Range Detection:
Automatically identifies price ranges based on historical price action and volatility.
Helps traders recognize consolidation zones, breakout areas, and key price levels.
Customizable Range Filtering:
Allows traders to fine-tune range sensitivity, filtering out insignificant price movements.
Ideal for trend-following, breakout trading, and avoiding false signals.
Visual Labels for Key Events:
Plots Buy/Sell Labels at potential entry points based on range breakouts and trend conditions.
Highlights range highs, lows, and midpoints for easy reference.
Customizable text and color settings to match trading preferences.
Trend-Based Range Analysis:
Color-coded range zones indicate market sentiment:
Green Zone: Bullish range, signaling upward momentum.
Red Zone: Bearish range, signaling downward momentum.
Neutral Zone: Sideways market, signaling potential breakouts or mean reversion setups.
Breakout & Rejection Alerts:
Detects and signals when price breaks out of the defined range, helping traders spot potential trend shifts.
Identifies price rejections at key levels, signaling possible reversal opportunities.
Multi-Timeframe Support:
Can be used across different timeframes to confirm trends and range structures for higher accuracy.
Custom Alerts:
Notifies traders of key breakout events, trend shifts, and potential entry points.
Ensures timely decision-making without constantly monitoring the charts.
Benefits:
Enhanced Market Structure Clarity: Clearly defines market ranges, helping traders avoid choppy, low-probability conditions.
Better Trade Timing: Identifies optimal breakout and rejection zones, improving entry/exit decisions.
Reduces Noise: Filters out insignificant price movements, focusing on key price levels and trends.
Works Across Markets: Ideal for stocks, forex, crypto, and commodities on any timeframe.
Use Cases:
✔ Breakout Trading – Spot high-probability breakout opportunities and enter early.
✔ Range Trading – Identify strong support and resistance levels for range-based strategies.
✔ Trend Confirmation – Use range analysis to validate trends and avoid false breakouts.
✔ Risk Management – Use dynamic range levels to set stop-loss and take-profit zones efficiently.
The ProTrading Range Filter & Labels is a must-have tool for traders looking to enhance their market analysis, improve trade accuracy, and confidently navigate any market condition. Whether you're trading breakouts, reversals, or trends, this indicator will help you filter out noise and focus on the most important price levels. 🚀
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.