R.E.Signal V2.0: Improved Tim West inspired code — Indicator by IvanLabrie

Hi, this is version 2.0 of the Range Expansion Signal indicator, now including inside and outside bars.
I'm looking forward to tradingview to include other price feeds, since I'd love to trade FX from this site.
Cheers,
Ivan.

🔒Want to dive deeper? Check out my paid services below🔒

linktr.ee/ivanlabrie

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.

Want to use this script on a chart?

study("R.E.Signal V2.0", overlay=true)
rangeup = close[1]+tr[1]
rangedown = close[1]-tr[1]
over() => high > rangeup and close > open and low > low[1]
under() => low < rangedown and close < open and high < high[1]
inside() => high < high[1] and low > low[1]
outside() => high > high[1] and low < low[1]
barcolor(over() ? green: under() ? red: inside() ? black: outside() ? black: na)

Related Ideas

about BTCUSD 13

about BTCUSD3M 6