Similar to one of my previous scripts 'Ranged Volume', but instead of using volume
, this script uses candle length mirrored. It creates a range using highest and lowest of a given period. When the range gets larger, it means the current candle is bigger than the largest candle of your given period (break-out).
A good way to use this is to follow the direction of the last break-out candle or open a position with a stop just below or above the candle (that's how I tested it real time).