CandelaCharts - Dealing Range

📝 Overview

Dealing Range is a precision tool designed to identify and measure the internal and external ranges that define institutional market structure. By mapping out specific high and low boundaries across different timeframes and sessions, it provides traders with clear Premium, Discount, and Equilibrium zones. This context is essential for recognizing where smart money is likely to accumulate or distribute relative to a specific Dealing Range.

📦 Features

Modular visualization for multi-timeframe analysis. Toggle three independent ranges to see nested structure and overlapping PD Arrays at a glance.

• Projected & Overlay Modes: View ranges forward in time (Projected) to anticipate levels, or anchored to historical data (Overlay) for structural context.
  
• Multiple Measurement Modes: Switch between Premium/Discount, OTE (Optimal Trade Entry), Quadrants, 8ths, and 16ths.
  
• Session Tracking: Define specific sessions (e.g., London, New York) to automatically capture the relevant high and low boundaries.
  
• Multi-Timeframe Support: Overlay ranges from Higher Timeframes (HTF) onto your current execution chart.
  
• Dynamic Zones: Visual boxes highlighting Premium, Discount, and the specific OTE (61.8% - 78.6%) range.
  

⚙️ Settings

Global Settings

• Start Offset: Gap (in bars or time) for projected ranges.
  
• Range Width: Horizontal length of the range visualization.
  
• Gap Width: Horizontal space between multiple projected ranges.
  
• Timezone: Set your local or market timezone for session accuracy.
  

Range Slots (1, 2, 3)

• Enabled: Toggle individual ranges on or off.
  
• Reverse: Flip the range (useful for identifying bearish equivalents of bullish setups).
  
• UI Mode: Projected (future bars) or Overlay (historical data).
  
• Range Mode: Select measurement logic (OTE, Quadrants, etc.).
  
• Session / Timeframe: Input a specific session string (e.g., "0830-1100") or select a timeframe (e.g., "1H", "4H", "D").
  
• Colors: Customize Premium, Discount, and OTE upper/lower zone colors.
  

⚡️ Showcase

Projected Dealing Range (Premium/Discount Mode)


Projected Dealing Range (OTE Mode)


Overlay Dealing Range (Quadrants Mode)


Overlay Dealing Range (8ths Mode)


Overlay Dealing Range (16ths Mode)


Projected & Overlay Dealing Range


📒 Usage

• Identifying OTE (Optimal Trade Entry): Set Range Mode to "OTE" to highlight the 62% and 79% retracement levels. These are high-confluence zones for entries within a directional bias.
  
• Premium vs. Discount: Institutional buys typically occur in the Discount zone (below 0.5 Equilibrium), while sells occur in Premium (above 0.5 Equilibrium).
  
• Multi-Timeframe Context: Enable Range 1 for the Daily timeframe and Range 2 for the 4-Hour timeframe. Look for entries where a Lower Timeframe OTE aligns with a Higher Timeframe Discount zone.
  
• Session Highs/Lows: Use the Session input to automatically measure the London session range and project it into the New York session for potential distribution shifts.
  

🚨 Alerts

This indicator does not currently support automated alerts. All range detections and zone entries are visual-only. Users who require notifications can manually set alerts using standard TradingView horizontal levels at the Equilibrium (0.5) or OTE boundaries.


⚠️ Disclaimer

Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.