Using the contracting phase of what are basically bollinger bands and some fancy coloring, this indicator draws funnels to which show tightening ranges and doesn't take up too much screen space unless you want it to.
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.
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