range forecast Calculate the price range , support and resistence for the current day. At the market open this algo will calculate the next price level with no repaint.
Search in scripts for "range"
Active Ranges Detector
1. Purpose
The script identifies and manages bar ranges, which are defined as bars where the high and low prices are fully contained within the high and low of the previous bar. These ranges are used by traders to identify potential breakouts and price consolidations.
2. Key Features
Active Range Validation
A potential range becomes an active range when the price breaks out of the bar’s high or low. The breakout direction is tracked:
• Upward breakout: When the price closes above the high of the range.
• Downward breakout: When the price closes below the low of the range.
The script creates:
• Lines to represent the high and low of the range.
• A colored background box to indicate the range, with color coded for breakout direction:
• Green: Upward breakout.
• Orange: Downward breakout.
Range Updates
• Exit Detection: The script detects if the price exits the range (moves outside the high or low levels).
• Reintegration and Mitigation:
• If the price re-enters an exited range, it marks the range as “mitigated.”
• The lines for mitigated ranges are updated (color and width are changed).
• The background box is removed for mitigated ranges.
3. User Inputs
The script provides customization options:
• Breakout Colors:
• upBreakoutColor: Background color for upward breakout ranges (default: semi-transparent green).
• downBreakoutColor: Background color for downward breakout ranges (default: semi-transparent orange).
• Mitigated Range Styling:
• mitigatedLineColor: Line color for mitigated ranges (default: red).
• mitigatedLineWidth: Width of the line for mitigated ranges.
• Line and Background Settings:
• activeLineWidth: Width of lines for active ranges.
• lineExtension: Length of line extensions beyond the range’s initial boundaries.
• Range Display Limits:
• maxActiveRanges: Maximum number of active ranges to display on the chart (default: up to 200).
4. Visualization
The script provides clear visual feedback for identified ranges:
• Lines: High and low levels of the range are drawn as lines on the chart.
• Background Boxes: Colored boxes are drawn to represent active ranges, with breakout direction indicated by the box’s color.
• Mitigation Styling: Mitigated ranges have updated line styles and no background.
5. Range Management
The script actively manages ranges:
• Tracks the status of each range (active, exited, reintegrated, mitigated).
• Limits the number of displayed ranges to improve chart readability and comply with TradingView’s object limits.
6. Use Case
This script is ideal for traders who:
• Use inside bars to identify areas of consolidation and breakout opportunities.
• Want to track active and mitigated ranges automatically.
• Need a clear, visual representation of ranges and breakout directions.
7. Limitations
• Inside bars are identified based only on the current and previous bar, so the script might not detect more complex consolidation patterns.
• The maximum number of ranges displayed is limited to the user-defined value (maxActiveRanges), with a hard limit of 200 due to TradingView’s object restrictions.
HTF RangeThis Pine Script indicator, HTF Range , is a tool designed to help traders visualize predefined ranges (highs and lows) and analyze price action within those levels. It's particularly useful for identifying key levels and trends for a set of pre-configured assets, such as cryptocurrencies, stocks, and forex pairs.
Key Features:
1. Predefined Symbol Ranges:
Stores a list of assets (tickers) with corresponding high, low, and trend information in an array.
Automatically matches the current symbol on the chart (syminfo.ticker) to fetch and display relevant range data:
High Range: The upper price level.
Low Range: The lower price level.
Trend: Indicates whether the trend is "up" or "down."
Example tickers: BTCUSDT, ETHUSDT, GBPUSD, NVDA, and more.
2. Range Visualizations:
Extremeties: Draws dashed horizontal lines for the high and low levels.
Half-Level: Marks the midpoint of the range with a dashed yellow line.
Upper and Lower Quarters: Highlights upper and lower portions of the range using shaded boxes with customizable extensions:
3. Configurable Inputs:
Enable/Disable Levels: Toggles for extremeties, half-levels, and quarter-levels.
Table Info: Option to display a table summarizing the range data (symbol, high, low, and trend).
4. Dynamic Calculations:
Automatically calculates the difference between the high and low (diff) for precise range subdivisions.
Dynamically adjusts visuals based on the trend (up or down) for better relevance to the market condition.
5. Table Display:
Provides a detailed summary of the asset's range and trend in the top-right corner of the chart:
Symbol ticker.
High and low levels.
Overall trend direction.
Use Case:
This indicator is ideal for traders who:
Trade multiple assets and want a quick overview of key price ranges.
Analyze price movements relative to predefined support and resistance zones.
Use range-based strategies for trend following, breakout trading, or reversals.
cc AJGB Candle Range Finder with TableOverview:
The "cc AJGB Candle Range Finder with Table" is a versatile Pine Script indicator designed to identify and visualize price ranges within the 1 minute charts based on UTC+2 Time Zone. Unlike traditional range indicators, it offers three unique calculation methods to define ranges based on minute and hour interactions, displays ranges as boxes with labeled point values, and summarizes average range sizes in a customizable table. This tool is ideal for analyzing price ranges of specific time based ranges.
Features:
Customizable Time Range: Users specify a start and end minute (0-59) to define the range period (e.g., 29th to 35th minute).
Three Calculation Methods:
Minute Only: Uses the minute of each bar to identify ranges (e.g., matches user-specified minutes).
Minute - Hour: Adjusts the minute by subtracting the hour, allowing for dynamic range detection across hourly cycles.
Minute + Hour: Combines minute and hour values for a unique range calculation, useful for specific intraday patterns.
Visual Output: Draws boxes around detected ranges, with labels showing the start/end minutes and range size in points.
Summary Table: Displays the average range size (in points) for each method, with customizable position, colors, and text size.
How It Works:
The indicator evaluates each bar’s timestamp in (UTC+2 ONLY) to match user-specified minutes using one or more selected methods. When a start minute is detected, it tracks the high and low prices until the end minute, drawing a box to highlight the range and labeling it with the range size in points. A table summarizes the average range size for each method, helping traders assess typical price movements during the specified period.
Market Analysis: Compare range sizes across different methods to understand intraday volatility patterns.
Settings Customization: Adjust colors, table position, and label sizes to suit your chart preferences.
Settings:
Range to Find: Set start and end minutes.
Range Selection: Enable/disable each method and customize colors.
Range Label Size: Choose label size (Tiny to Huge).
Table Settings: Configure table position (Top, Bottom, Left, Right), sub-position, text size, and colors.
Notes:
Only works on 1 minute charts
The indicator works best using Start Times that are lower than the End Times.
Ensure the chart is set to UTC+2 Time Zone for accurate range detection.
Why It’s Unique:
Unlike standard range indicators that focus on sessions or fixed periods, this tool allows precise minute-based range detection with three distinct calculation methods, offering flexibility for data gathering. The interactive table provides quick insights into average range sizes.
Flat Market Range Pro [CHE]Flat Market Range Pro Indicator
Introduction
Hey there! 👋
Welcome to our overview of the Flat Market Range Pro indicator. Whether you're new to trading or a seasoned pro, this tool is designed to help you spot those flat market conditions where prices are chilling within a certain range. By highlighting these consolidation zones and potential breakout points, it offers some pretty neat insights to boost your trading strategies. Let’s dive in and explore how this indicator can make your trading journey smoother and more informed!
How It Works
The Flat Market Range Pro indicator is all about understanding the ebb and flow of the market. Here's a simple breakdown:
Range Detection:
Range Period (range_period): This sets the number of bars (think of them as time slices) the indicator looks back to find the highest highs and lowest lows. It’s like setting the scope for your search.
Minimum Candles in Range (min_candles_in_range): Ensures that there are enough candles (price bars) within the range to make the detection meaningful. No point in highlighting a range if it’s too short, right?
Adaptive Moving Average (AMA):
Think of AMA as the indicator’s way of staying flexible. It smooths out the price data to better spot trends within those flat ranges. Don’t worry, it’s working behind the scenes and won’t clutter your chart.
Breakout Detection:
When the price decides to break free from its cozy range, the indicator flags it. It waits for confirmation to make sure it’s not just a fleeting move, adding a layer of reliability to your signals.
Visualization:
Flat Market Zones: These are shaded areas that highlight where the price has been consolidating.
Support and Resistance Lines: Automatically drawn lines that mark key price levels, helping you see where the price might bounce or break through.
Trade Signals: Arrows popping up to show potential buy or sell opportunities when breakouts occur.
Breaking It Down
1. Detecting the Range
The indicator scans through the past range_period bars to find the highest and lowest prices. This creates a dynamic range that adjusts as new data comes in. It’s like having a smart assistant keeping an eye on where the action is happening.
2. The Role of AMA
Even though you won’t see AMA on your chart, it plays a crucial role. It helps the indicator adapt to changing market conditions by smoothing out the data, making sure the breakout signals are spot-on and not just random noise.
3. Spotting Breakouts
A breakout happens when the price moves beyond the established range. The indicator marks these moments with clear arrows, so you know when it might be a good time to jump in or out of a trade. Plus, it waits for confirmation to ensure these signals are solid.
4. Visualizing Flat Markets
Shaded boxes highlight the areas where the price has been consolidating, making it easy to see when the market is flat. Support and resistance lines are drawn automatically, and you can even customize how they look to match your personal style.
Customize It Your Way
One of the best things about the Flat Market Range Pro indicator is how customizable it is. Here’s what you can tweak:
Range Settings:
Adjust the range_period to fit different timeframes.
Set the min_candles_in_range to ensure the ranges you see are meaningful.
Moving Average Settings:
Change the ma_length and ma_lookback to fine-tune how the AMA responds to price movements.
Visual Tweaks:
Pick your favorite colors and transparency levels for the shaded zones.
Choose whether to display support and resistance lines and extend them indefinitely if you like.
Toggle trade arrows and labels on or off based on what you find most helpful.
Organizing these settings into logical groups makes it super easy to customize the indicator just the way you like it.
Real-World Examples
1. Spotting Consolidation: Imagine you’re watching a stock that’s been moving sideways for a while. The indicator highlights this consolidation with shaded boxes and support/resistance lines, giving you a clear picture of where the price is hanging out.
2. Trading Breakouts: When the price finally decides to break free from the range, the indicator pops up buy or sell arrows. This helps you catch the move early, whether you’re looking to enter a new trade or exit an existing one.
3. Making Informed Decisions: With clear visual cues and reliable signals, you can make smarter trading decisions without getting overwhelmed by too much information.
Behind the Scenes: Technical Insights
For those curious about the nuts and bolts, here’s a peek into how the Flat Market Range Pro indicator is built:
Efficient Range Calculation:
Uses loops to scan through the specified range_period, ensuring accurate detection of high and low points.
Adaptive Logic with AMA:
Incorporates the Simple Moving Average (SMA) to create a threshold coefficient, making the indicator responsive to market changes.
Clear Visualization:
Utilizes box.new and label.new for intuitive visual representations of flat markets.
Employs plotshape and plot to display breakout signals clearly on your chart.
Optimized Performance:
Avoids plotting unnecessary elements like AMA, keeping your chart clean and focused on what matters.
Why You’ll Love It
The Flat Market Range Pro indicator brings a lot to the table:
Accurate Range Detection:
Pinpoints consolidation zones by analyzing historical highs and lows.
Flexible and Adaptive:
AMA ensures the indicator stays responsive to different market conditions.
User-Friendly Visuals:
Shaded zones, support/resistance lines, and clear trade signals make your chart easy to understand at a glance.
Highly Customizable:
Tailor the settings to match your trading style and preferences.
Reliable Signals:
Confirmation mechanisms help reduce false signals, giving you more confidence in your trades.
Wrapping It Up
The Flat Market Range Pro indicator is a fantastic tool for anyone looking to navigate flat or consolidating markets with ease. By combining precise range detection, adaptive logic, and clear visual cues, it helps you identify consolidation phases and seize breakout opportunities effectively. Its customizable features ensure that it fits seamlessly into your trading strategy, whether you’re just starting out or have years of experience under your belt.
For more details, a step-by-step guide on using the indicator, and access to the full Pine Script code, check out the accompanying documentation or reach out for support. Happy trading! 🌟
Questions and Further Information
Got questions or need a hand with the Flat Market Range Pro indicator? Feel free to reach out! Whether you’re curious about how it works or need tips on customizing it for your trading style, we’re here to help. Also, give the indicator a try on different charts to see how it performs in various market conditions. Let’s make your trading experience better together!
Best regards
Chervolino
This script was inspired by: Trend Regularity Adaptive Moving Average
and
Range Detection by HasanRifat
RSI ATR Range [SS]Hey everyone,
Over the course of the last year I had a bunch of requests to do something with RSI. I did do an RSI expected move plotter, but the requests were to overhaul RSI and make it better I guess.
So here is my attempt!
This is the RSI ATR plotter. Its similar to my RSI expected move plotter, however, it gives you the ATR ranges associated with the current RSI value. This allows you to conceptualize RSI in a different way. Instead of looking for "oversold" over "overbought", you can actually just see the expected high to open range and the expected open to low range based on the current RSI.
This will allow you to determine such things as:
a) Is it likely to be bullish?
b) Is it likely to be bearish?
c) The average move, in a dollar amount, associated with this RSI.
In addition to presenting RSI in terms of ranges as opposed to the actual RSI value, the indicator will also signal likely reversal areas. Whenever there is a huge spike in RSI and range, whether it be up or down, this generally corresponds to an imminent reversal. The indicator is programmed to recognize this and plot little grey circles to notify you of an impending reversal.
Let's take a look at some reversal examples using NVDA:
In the chart above, we can see that the RSI signaled a reversal. As it was part of a downtrend, the reversal was bullish.
Let's look at a top reversal:
The chart above shows a likely downside reversal.
And some little bounce reversals here and there:
In addition to showing you the ATR range and reversals, the indicator will show you the RSI in a bar graph format:
You won't be able to look for RSI divergences, if you are a believer of those. However, you can definitely visualize them in the ATR ranges which are directly affected by the RSI readings.
Aspects of the indicator:
Bull ranges are displayed in green.
Bear ranges are displayed in red.
When green is present we know its entering or currently in a bullish RSI range:
Inversely, when it starts to shift red, we know we are entering a bearish RSI range:
There is a border that circles the range. It will be green when we are in a bullish range and red when we are in a bearish range. In addition to these 2 signals, the RSI bar chart itself will turn green in bullish ranges, and red in bearish ranges.
Here is bullish:
Here is bearish:
Customizability
You can customize the Source input for the RSI (default is close). As well as the length (default is 14).
The ATR length is defaulted to 500. My suggestion is to leave this be. You can increase it but I would not suggest decreasing it as it may omit some of the RSI ranges from its history.
And that is the indicator my friends! Hope you enjoy!
As always, safe trades!
Fractal Consolidations [Pro+]Introduction:
Fractal Consolidations Pro+ pushes the boundaries of Algorithmic Price Delivery Analysis. Tailored for traders seeking precision and efficiency to unlock hidden insights, this tool empowers you to dissect market Consolidations on your terms, live, in all asset classes.
What is a Fractal Consolidation?
Consolidations occur when price is trading in a range. Normally, Consolidation scripts use a static number of "lookback candles", checking whether price is continuously trading inside the highest and lowest price points of said Time window.
After years spent studying price action and numerous programming attempts, this tool succeeds in veering away from the lookback candle approach. This Consolidation script harnesses the delivery mechanisms and Time principles of the Interbank Price Delivery Algorithm (IPDA) to define Fractal Consolidations – solely based on a Timeframe Input used for context.
Description:
This concept was engineered around price delivery principles taught by the Inner Circle Trader (ICT). As per ICT, it's integral for an Analyst to understand the four phases of price delivery: Consolidation , Expansion , Retracement , and Reversal .
According to ICT, any market movement originates from a Consolidation, followed by an Expansion .
When Consolidation ranges begin to break and resting liquidity is available, cleaner Expansions will take place. This tool's value is to visually aid Analysts and save Time in finding Consolidations in live market conditions, to take advantage of Expansion moves.
CME_MINI:ES1! 15-Minute Consolidation setting up an Expansion move, on the 10 Minute Chart:
Fractal Consolidations Pro+ doesn't only assist in confirming Higher Timeframe trend continuations and exposing opportunities on Lower Timeframes. It's also designed for both advanced traders and new traders to save Time and energy in navigating choppy or rangebound environments.
CME_MINI:ES1! 30 Minute Consolidation forming Live, on the 5 Minute Chart:
By analyzing past price action, traders will find algorithmic signatures when Consolidations are taking place, therefore providing a clearer view of where and when price is likely to contract, continue consolidating, breakout, retrace, or reverse. A prominent signature to consider when using this script is ICT's Market Maker Buy/Sell Models. These signatures revolve around the engineering of Consolidations to manipulate price in a specific direction, to then reverse at the appropriate Time. Each stage of the Market Maker Model can be identified and taken advantage of using Fractal Consolidations.
CME_MINI:NQ1! shift of the Delivery Curve from a Sell Program to a Buy Program, Market Maker Buy Model
Key Features:
Tailored Timeframes: choose the Timeframe that suits your model. Whether you're a short-term enthusiast eyeing 1 Hour Consolidations or a long-term trend follower analyzing 4 Hour Consolidations, this tool gives you the freedom to choose.
FOREXCOM:EURUSD Fractal Consolidations on a 15 Minute Chart:
Auto-Timeframe Convenience: for those who prefer a more dynamic and adaptive approach, our Auto Timeframe feature effortlessly adjusts to the most relevant Timeframe, ensuring you stay on top of market consolidations without manually adjusting settings.
Consolidation Types: define consolidations as contractions of price based on either its wick range or its body range.
COMEX:GC1! 4 Hour Consolidation differences between Wick-based and Body-based on a 1 Hour Chart:
Filtering Methods: combine previous overlapping Consolidations, merging them into one uniform Consolidation. This feature is subject to repainting only while a larger Consolidation is forming , as smaller Consolidations are confirmed. However once established, the larger Consolidation will not repaint .
FOREXCOM:GBPUSD 15 Minute Consolidation Differences between Filter Consolidations ON and OFF:
IPDA Data Range Filtering: this feature gives the Analyst control for selective visibility of Consolidations in the IPDA Data Range Lookback . The Analyst can choose between 20, 40, and 60 days as per ICT teachings, or manually adjust through Override.
INDEX:BTCUSD IPDA40 Data Range vs. IPDA20 Data Range:
Extreme Float: this feature provides reference points when the price is outside the highest or lowest liquidity levels in the chosen IPDA Data Range Lookback. These Open Float Extremes offer critical insights when the market extends beyond the Lookback Consolidation Liquidity Levels . This feature helps identify liquidity extremes of interest that IPDA will consider, which is crucial for traders in understanding market movements beyond the IPDA Data Ranges.
INDEX:ETHUSD Extreme Float vs. Non-Extreme Float Liquidity:
IPDA Override: the Analyst can manually override the default settings of the IPDA Data Range Lookback, enabling more flexible and customized analysis of market data. This is particularly useful for focusing on recent price actions in Lower Timeframes (like viewing the last 3 days on a 1-minute timeframe) or for incorporating a broader data range in Higher Timeframes (like using 365 days to analyze Weekly Consolidations on a daily timeframe).
Liquidity Insight: gain a deeper understanding of market liquidity through customizable High Resistance Liquidity Run (HRLR) and Low Resistance Liquidity Run (LRLR) Consolidation colors. This feature helps distinguishing between HRLR (high resistance, delayed price movement) and LRLR (low resistance, smooth price movement) Consolidations, aiding in quick assessment of market liquidity types.
TVC:DXY Low Resistance vs. High Resistance Consolidation Liquidity Behaviour and Narrative:
Liquidity Raid Type: decide whether to categorize a Consolidation liquidity raid by a wick or body trading through a level.
CBOT:ZB1! Wick vs. Body Liquidity Raid Type:
Customizable User Interface: tailor the visual representation to align with your preferences. Personalize your trading experience by adjusting the colors of consolidation liquidity (highs and lows) and equilibrium, as well as line styles.
Ribbit RangesBounce Around Multiple
(Open, High, Low, Close) Ranges
On Pre/Post Market & (Daily, Weekly,
Monthly, Yearly) Sessions With
Meticulous Lines, Labels, Tooltips,
Colors, Custom Ideas, and Alerts.
Sessions Use Two Step Incremental Values
Default Value: (1) Shows Two Previous
(O, H, L, C); Increasing Value Swaps
Sessions With Next Two Ranges.
⬛️ KEY WORDS:
🟢 Crossover | 🔴 Crossunder
📗 High | 📕 Low
📔 Open | 📓 Close
🥇 First Idea | 🥈 Second Idea
🥉 Third Idea | 🎖️ Fourth Idea
🟥 ALERTS:
Default Option: (Per Bar)
Alerts Once Conditions Are Met
(Bar Close) Alerts When Bar Closes
Default Option: (Reg)
Alerts During Regular Market
Trading Hours, (0930-1600)
(Ext) Alerts During Extended
Market Hours, (1600-0930)
(24/7) Alerts All Day
Optional Preferences:
Regular Alerts - Stocks
Extended Alerts - Futures
24/7 Alerts - Crypto
🟧 RANGES:
Default Value: (1)
Incremental Range Value, Increasing Value
Swaps Sessions With the Next Two Ranges
(✓) Swap Ranges?
Pre/Post Market High/Lows,
1-2 Day High/Lows, 1-2 Week High/Lows,
1-2 Month High/Lows, 1-2 Year High/Lows
( ) Swap Ranges?
Pre/Post Market Open/Close,
1-2 Day Open/Close, 1-2 Week Open/Close,
1-2 Month Open/Close, 1-2 Year Open/Close
🟨 EXAMPLES:
Default Range:
🟢 | 📗 Pre Market High (PRE) | 4600.00
🔴 | 📕 Post Market Low (POST) | 420.00
Optional: (Open)
🟢 | 📔 Post Market Open (POST) | 4400.00
Optional: (Close)
🔴 | 📓 Pre Market Close (PRE) | 430.00
Default Range Value: (1)
🔴 | 📗 1 Day High (1DH) | 460.00
Next Range Value: (3)
🟢 | 📕 4 Day Low (4DL) | 420.00
Optional: (Open)
🔴 | 📔 2 Day Open (2DO) | 440.00
Optional: (Close)
🟢 | 📓 3 Day Close (3DC) | 430.00
Default Range Value: (5)
🟢 | 📗 5 Week High (5WH) | 460.00
Next Range Value: (7)
🔴 | 📕 8 Week Low (8WL) | 420.00
Optional: (Open)
🔴 | 📔 7 Week Open (7WO) | 4400.00
Optional: (Close)
🟢 | 📓 6 Week Close (6WC) | 430.00
Default Range Value: (9)
🔴 | 📗 9 Month High (9MH) | 460.00
Next Range Value: (11)
🟢 | 📕 12 Month Low (12ML) | 420.00
Optional: (Open)
🟢 | 📔 11 Month Open (11MO) | 4400.00
Optional: (Close)
🔴 | 📓 10 Month Close (10MC) | 430.00
Default Range Value: (13)
🟢 | 📗 13 Year High (13YH) | 460.00
Next Range Value: (15)
🟢 | 📕 16 Year Low (16YL) | 420.00
Optional: (Open)
🔴 | 📔 15 Year Open (15YO) | 4400.00
Optional: (Close)
🔴 | 📓 14 Year Close (14YC) | 430.00
🟩 COLORS:
(✓) Swap Colors?
Text Color Is Shown Using
Background Color
( ) Swap Colors?
Background Color Is Shown
Using Text Color
🟦 IDEAS:
(✓) Show Ideas?
Plots Four Ideas With Custom Lines
and Labels; Ideas Are Based Around
Post-It Note Reminders with Alerts
Suggestions For Text Ideas:
Take Profit, Stop Loss, Trim, Hold,
Long, Short, Bounce Spot, Retest,
Chop, Support, Resistance, Buy, Sell
🟪 EXAMPLES:
Default Value: (5)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🥇)
Shown On First Label and
Message Appearing On Alerts
Alert Shows: 🟢 | 🥇 | 5.00
Default Value: (10)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🥈)
Shown On Second Label and
Message Appearing On Alerts
Alert Shows: 🔴 | 🥈 | 10.00
Default Value: (50)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🥉)
Shown On Third Label and
Message Appearing On Alerts
Alert Shows: 🟢 | 🥉 | 50.00
Default Value: (100)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🎖️)
Shown On Fourth Label and
Message Appearing On Alerts
Alert Shows: 🔴 | 🎖️ | 100.00
⬛️ REFERENCES:
Pre-market Highs & Lows on regular
trading hours (RTH) chart
By Twingall
Previous Day Week Highs & Lows
By Sbtnc
Screener for 40+ instruments
By QuantNomad
Daily Weekly Monthly Yearly Opens
By Meliksah55
ZenAlgo - RangerThe core of the indicator is the daily range, anchored around the 1-minute timeframe VWAP (volume-weighted average price), with ±2 standard deviations defining the upper and lower bounds. This range dynamically forms throughout the day and then gets “locked” at 23:59 each day to establish historical reference values.
The indicator calculates this locked VWAP and standard deviation per day, which serves two primary purposes:
Drawing today's real-time evolving range , updated each minute.
Plotting previous daily ranges , based on historical locked VWAPs and standard deviations, providing visual reference boxes on the chart.
This design enables the trader to identify mean-reversion zones and persistent directional biases based on volume-weighted price consensus.
Multiple Standard Deviation Layers
Beyond the ±2.0 deviation bounds, optional lines are available at half-step increments (e.g., ±0.5, ±1.5, ..., ±4.5) and full-step levels beyond ±2.0 (±3.0, ±4.0, ±5.0). These provide a customizable grid to visualize price extremes, tail behavior, or potential breakout zones relative to volume-adjusted price equilibrium.
Users can enable only the levels they need, offering flexibility depending on their strategy (e.g., scalping versus swing trading).
Historical Range Retention
The script stores up to 70 previous daily VWAP + standard deviation values (adjustable). For each, it draws a full range box and standard deviation lines in the past. This historical context helps in understanding how current price interacts with prior days’ balance zones.
These boxes are always drawn from 00:00 to 23:59 UTC , ensuring consistent alignment across instruments and avoiding session-based discrepancies.
Monday Range Reference (Drawn on Tuesdays)
On Tuesdays, the indicator plots the previous Monday's VWAP-based range across the rest of the week. This serves as a persistent contextual anchor for traders watching weekly unfolding behavior. The range is defined identically (VWAP ±2σ) and drawn from Monday 00:00 through the following Monday.
This method assumes Monday often sets the tone or structure for the week, and tracking this level through time may highlight support/resistance confluence or range expansion scenarios.
Each Monday range is extended over 7 days and includes dashed lines at the 25%, 50%, and 75% marks within the range. These midrange markers help traders assess microstructure behaviors (e.g., reversion to median, failure to hold midpoint, etc.).
Daily Volume Delta via 4H Candles
The indicator also integrates daily buy/sell volume deltas , derived from 4-hour candles of the regular session (non-Heikin Ashi). The logic categorizes volume as:
Buy volume when candle closes above the previous close.
Sell volume when it closes below.
Even split when the candle closes flat.
These volumes accumulate each day to derive net delta (buy - sell). This delta is recorded for each day and can optionally be displayed. A similar process tracks the delta for each Monday range on an ongoing basis.
This information quantifies the market’s aggressive buying vs. selling , correlating with price positions inside or outside the VWAP ranges. A strong delta in one direction may justify a price sustaining above/below VWAP, or diverging from the previous range.
Interpretation and Best Usage Practices
VWAP±2σ Range : Considered a high-probability area for consolidation or reversal. Mean-reverting strategies can benefit from signals within this area.
VWAP±3.0 and beyond : Extreme deviations may signal exhaustion or breakout potential, but are less frequent.
Previous Range Overlap : Overlap of today’s price with past VWAP zones may indicate support/resistance zones.
Monday Range on Tuesday : Persistent levels where the week may repeatedly pivot. Best used on instruments that exhibit weekly cyclical behavior (e.g., indices, forex).
Delta Behavior : Sharp positive or negative delta combined with price outside VWAP bands may suggest initiative participation and potential trend continuation.
Added Value Over Free Alternatives
While many free VWAP tools exist, this script differs in several specific and factual ways:
Anchored 1-minute VWAP lock at a consistent daily timestamp (23:59 UTC), enabling historical analysis.
Historical storage of previous VWAP ranges , with adjustable memory depth and visual continuity.
Flexible standard deviation plotting , down to 0.5 increments, tailored to the user's strategy needs.
Dedicated Monday range analysis , not common in freely available scripts.
Volume delta tracking per day and per Monday range , offering a directional volume view unavailable in standard VWAP implementations.
Persistent and visual interpretation framework using extended boxes and dashed lines for easier contextual navigation.
Each of these additions increases the script’s utility for methodical traders relying on volume-weighted statistics, without requiring additional configuration or external calculations.
Limitations and Disclaimers
VWAP based on 1-minute resolution : The indicator uses minute-level data to calculate daily VWAP and standard deviation. This offers high fidelity on liquid instruments but may produce noisy or unreliable levels on illiquid assets or during periods of low volume. For example, microcap stocks or thinly traded altcoins might not yield stable VWAP centers.
Inferred buy/sell volume : Volume delta is estimated using price movement from one candle to the next (close-to-close logic), rather than actual trade-level aggressor data (which is not accessible via TradingView). This approximation may misclassify volume in choppy or low-volatility environments, especially in assets where price changes do not correlate well with order flow (e.g., crypto during low-volume weekends).
Non-continuous markets and price gaps : For assets that do not trade continuously (e.g., stocks, futures), the VWAP calculation starts fresh every day at 00:00 UTC, regardless of the instrument’s official session start. As a result:
Pre-market/post-market trades may be included in VWAP when analyzing equities, even though they are often excluded in professional VWAP tools.
Opening gaps in equities and futures may distort early VWAP values due to lack of volume context, especially if the previous day's session was already closed when new data begins accumulating.
Weekend gaps in crypto, although less frequent due to 24/7 trading, can still influence delta accumulation if abrupt moves happen during low liquidity periods.
Daily session alignment : The VWAP anchoring and box drawing uses 00:00 UTC to 23:59 UTC windows. For instruments with different official session timings (e.g., US equities, CME futures), this may cause mismatches between expected session VWAPs and the ones shown in this script.
Conclusion
The ZenAlgo – Ranger script offers a systematic visualization of volume-adjusted price behavior, combining statistical VWAP ranges with volume delta overlays. By integrating daily and weekly reference zones, this tool supports structured decision-making in various market environments, particularly for traders prioritizing mean reversion, range expansion, or trend confirmation.
TRN BarsThe innovative TRN Bars are designed to help traders to analyze markets in an intuitive way. It combines three core concepts:
TRN Bars to see the current trend and reversals (replaces the default chart bars)
Bar Ranges to highlight consolidations
Dynamic Trend to see the overall trend.
First, let's have a look at each of these concepts individually. Afterwards, we describe how a combination of all three gives you a crystal-clear picture of the market.
TRN Bars
They show bullish and bearish trends and reversals based on color coding the bars and give high probability trade opportunities with special colors. The trend analysis is based on a new algorithm that includes several different inputs:
classical and advanced bar patterns and their statistical frequency
probability distributions of price expansions after certain bar patterns
bar information such as wick length in %, overlapping of the previous bar in % and many more
historical trend and consolidation analysis
The algorithm weighs these concepts and outputs a color scheme for the chart bars or candlesticks.
Bar Types
Trend bars in green and red
Reversal Bars in blue and fuchsia
Continuation Bars in turquoise and orange
Breakout Bars in dark green and pink
Green Bars signify a sustained uptrend, indicating bullish market sentiment. On the other hand, Red Bars indicate a persistent downtrend, representing bearish market sentiment. The transition from red to green denotes a bullish trend reversal, suggesting a shift from bearish to bullish sentiment. Conversely, the shift from green to red signals a bearish trend reversal, indicating a transition from bullish to bearish sentiment. By monitoring these color changes, traders can identify potential trend reversals and make informed trading decisions.
The presence of gray and black bars indicates a neutral market state, often observed before an impending color change from red to green or green to red. These neutral bars serve as a transition phase between the previous trend and the potential reversal.
The TRN Bars incorporate Signal Bars, distinguished by their distinct colors, to offer potential buy and sell signals and deeper insights into market dynamics.
Reversal Bars
The presence of blue Reversal Bars indicates a trend reversal to the upside, while pink Reversal Bars indicate a reversal to the downside. These bars not only serve as signals for potential trend shifts but also present favorable opportunities to enter the market or increase one's position size.
Continuation Bars
In addition to the reversal bars, TRN Bars also include bullish continuation bars (colored turquoise) and bearish continuation bars (colored orange). These bars act as signals for the continuation of an existing trend. Like the reversal bars, they can be utilized as entry points or opportunities to augment one's position size.
Breakout Bars
The dark green breakout bars within TRN Bars show a powerful breakout from a price range detected by our integrated bar range feature. They signify the continuation or potential change in a trend following a consolidation phase. As such, these bars hold dual functionality, serving as reversal signals and validating the persistence of an ongoing trend.
Bar Ranges
The bar range feature automatically finds consolidations where the price range of several consecutives bars is rather small. The detection of the bar ranges includes among other things the overlapping percentage of these bars.
How to Use Price Ranges
Here are a few ways you can use the bar ranges in your trading:
Identify Support and Resistance Levels
The price ranges can help you identify key support and resistance levels on a chart. By observing price ranges and identifying these levels, you can make more informed decisions about entering or exiting trades.
Breakout Trading
Price ranges can also provide insights into potential breakout opportunities. Breakouts occur when the price breaks out of a defined range, signaling a potential shift in market sentiment and the start of a new trend. The Color highlighted Breakout Bars from the TRN Bars are signaling a powerful breakout of a price range. Traders can enter positions in the direction of the breakout and set appropriate stop-loss orders to manage risk. Note that not every price range is left by a powerful breakout.
Dynamic Trend
The Dynamic Trend combines elements from standard trend strength indicators (e.g. DI-, DI+, Parabolic SAR) and volatility indicators (e.g. ATR, Standard Deviation). It produces a moving average line that adapts to changing market volatility. It is inspired by the ideas of the programmer and trader Fat Tails. The adaptive behavior provides more relevant information for traders when compared to traditional moving averages which do not consider volatility and trend strength together. This makes the Dynamic Trend completely unique, and no other moving average indicator can give you this precision.
How to use Dynamic Trend
Generally, a rising Dynamic Trend line, displayed in green, indicates that an uptrend is strong, while a falling Dynamic Trend, displayed in red, suggests that the downtrend is sharp. The Dynamic Trend turns gray when there is insufficient clarity to establish a distinct trend and especially when there is not volatility in the market.
Identify potential trade entries and exits: When used in conjunction with price action, the Dynamic Trend can provide potential trade signals. For example, if the price crosses above the Dynamic Trend, it may be a bullish sign, suggesting a potential buy entry. Conversely, if the price crosses below the Dynamic Trend, it may indicate bearish conditions and a potential sell signal.
Trend Identification and Pullback trading
Observe the Dynamic Trend's color. When it's on the rise and appears green, it indicates a bullish trend. Conversely, if it's in decline and displayed in red, it signals a bearish trend.
If Dynamic Trend is green and price pulls from above back to the Dynamic Trend, then this can be considered as a bullish signal.
If Dynamic Trend is red and price pulls from below back to the Dynamic Trend, then this can be considered as a bearish signal.
In the event of a bearish signal, such as a bearish TRN Signal Bar, and the Dynamic Trend is red, it provides additional confirmation to the bearish signal. Likewise, bullish signals gain added conviction when the Dynamic Trend is green.
Crossovers
As with other moving averages, crossovers between the Dynamic Trend and the price can be significant.
If price is crossing above the Dynamic Trend, then this can be considered as a bullish signal.
If price is crossing below the Dynamic Trend, then this can be considered as a bearish signal.
If you currently hold a position, both bullish and bearish crossovers can serve as potential exit signals. For instance, in the case of a long position, a bearish crossover can indicate a potential shift in sentiment, signaling a bearish reversal and a potential opportunity to close your long position.
Filtering Noise
Due to its adaptive nature, the Dynamic Trend can be a useful tool to filter out market noise. When the market is choppy or consolidating, the Dynamic Trend tends to remain flat and colored gray, signaling traders to potentially stay out of the market.
Stop Losses
The Dynamic Trend can also be used as a dynamic stop loss. For instance, in a long trade, traders can use the Dynamic Trend as a trailing stop, selling their position if the price crosses below the Dynamic Trend.
Combining TRN Bars, Bar Ranges and Dynamic Trend together
Combining all three concepts gives you a crystal-clear picture of the market. The Dynamic Trend shows you the overall trend. If price pulls back to the dynamic trend line and then price picks up the trend direction again, then the TRN Bars immediately switch the color to the trend direction. Therefore, you can easily identify high probability entry signals based on the bar color.
As a simple trading model, you can set the stop loss below the last swing or below a TRN signal bar (vice versa for short entries) and use 2.5 R or 3 R as target.
You can increase the success rate of the high probability TRN signal bars entries even more if they are in line with the Dynamic Trend line.
On the other hand, the TRN Bar Ranges help you to stay out of the market in case the price does not really change. As a confluence signal to stay flat in this period the dynamic trend line tends to be grey as well. If the price breaks out of the range, then the TRN Bars print a breakout bar which serves as a high probability entry signal.
Although it is possible to switch off any of these concepts, it is highly recommended to use all three in combination to get a crystal-clear picture of the market.
Alerts
Experience the power of our TRN Bars Alerts, delivering real-time notifications for trend changes, price range breakouts, and signal bar formations or confirmations. Stay on top of the market with these versatile alerts, customizable to your preferred assets and timeframes.
Conclusion
While signals from TRN Bars can be informative, it is important to recognize that their reliability may vary. Various external factors can impact market prices, and it is essential to consider your risk tolerance and investment goals when executing trades.
MFR RangeHello Traders!
You requested it for many months, we are finally making our proprietary Range available to all.
First of all, how should a trader consider a Range in general:
In trading, a "range" refers to a specific price interval or zone within which an asset's price moves or consolidates for a period of time. Ranges are characterized by relatively horizontal or sideways price movements, where the price oscillates between a defined upper and lower boundary. Traders often use ranges to identify potential trading opportunities, manage risk, and make trading decisions.
Here's how ranges are used in trading:
1. Range Identification:
Traders identify ranges by observing price charts and looking for periods where the price appears to be moving horizontally with clear upper and lower boundaries.
Common range patterns include rectangles, channels, and horizontal consolidations.
2. Range Trading Strategies:
Range trading strategies aim to profit from price movements within the established range. Traders typically use two main approaches within a range:
Buying near the range's lower boundary: Traders buy when the price approaches the lower end of the range, anticipating a bounce or reversal towards the upper boundary. This is often referred to as "buying support."
Selling near the range's upper boundary: Traders sell when the price approaches the upper end of the range, anticipating a pullback or reversal towards the lower boundary. This is known as "selling resistance."
3. Risk Management:
Stop-loss orders are crucial when trading ranges. Traders set stop-loss orders just outside the range's boundaries to limit potential losses if the price breaks out of the range unpredictably.
4. Range Breakouts:
Ranges do not last indefinitely, and eventually, the price may break out of the range, leading to a significant price movement.
Traders often look for breakout patterns and use breakout trading strategies to capitalize on the potential for a strong price movement after the range is broken.
5. Volatility Consideration:
Some traders may assess the volatility within the range. If the price oscillates within the range with high volatility, they may consider trading shorter timeframes for smaller, quicker profits.
Lower volatility may prompt longer-term traders to take positions within the range, expecting a slower, more controlled price movement.
6. Time Frame Analysis:
Traders may analyze the time frame in which the range has developed, in our case MFR range are based solely on the Daily timeframe.
7. Confirmation Indicators:
Traders often use technical indicators like Relative Strength Index (RSI), Moving Averages, or Bollinger Bands to confirm range trading signals and assess overbought or oversold conditions.
8. Range Boundaries as Support and Resistance:
Once a range is identified, its upper and lower boundaries can serve as key support and resistance levels even after the range is broken. Traders pay attention to these levels for future trading decisions.
9. Range Expansion:
Some traders look for signs of range expansion, where the price starts to break out or trend strongly. This can signal the end of a range-bound market and a transition to a trending market.
It's important to note that while range trading can be profitable, it requires careful analysis and risk management. Traders must be prepared for the possibility of a breakout that can result in significant losses if they are on the wrong side of the trade. Additionally, market conditions can change, and ranges can evolve into trends or other patterns, so traders need to adapt their strategies accordingly.
What is specific to MFR range?
This script calculates and plots a trading range on a daily timeframe based on historical price data. Based on Benoit Mandelbrot and Edgar E. Peters publications on Range, we run a set of calculations over a defined period. The script will define those to generate the "Range High" and "Range Low". These values are used to define the upper and lower bounds of the trading range.
In short, how could I use this script?
A trader could use the Range to find overbought or oversold points to enter a position. The Lower Range being the price to buy an asset and the Upper Range being the place to sell an asset. This is recommended to be implemented only when our other indication called Trend matches the strategy: buy when the trend is bullish or short when the trend is bearish.
It's important to note that while Range is a useful tool, it should not be relied upon solely for making trading decisions. It's recommended to use it in conjunction with other technical analysis tools and consider other factors such as market conditions, risk management, and fundamental analysis. Remember that the Range indicator is just one tool among many, and it's important to consider other factors such as volume, momentum, volatility, and overall market conditions when making trading decisions. Additionally, using stop-loss orders and proper risk management techniques is crucial to mitigate potential losses.
We hope that you will find these explanations useful, please contact us by private message for access.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorised. This script is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. Myfractalrange is not responsible for any losses you may incur. Please invest wisely.
MTF Market Structure Pivots/Dealing Ranges | InvrsROBINHOODMulti-Timeframe Advanced Market Structure Pivots - Dealing Ranges | InvrsROBINHOOD
This indicator provides a sophisticated framework for analyzing market structure by identifying and classifying key pivot points on the user defined higher timeframes. It automatically draws the most relevant bullish and bearish dealing ranges based on this structure, equipping traders with a clear and objective view of the market's flow and potential areas of interest whilst on the lower timeframes.
Understanding Market Structure
At its core, market structure is the sequence of highs and lows that form the trend. This indicator demystifies market structure by categorizing pivots into a three-tiered hierarchy, allowing you to instantly gauge the significance of a swing point.
The Hierarchy of Pivots
Short Term Highs (H) & Lows (L)
These are the most basic swing points in price action, representing minor, localized turning points. They are the fundamental building blocks of all larger trends and structures. While common, they help define the immediate price action and short-term directional bias.
Intermediate Highs (ITH) & Lows (ITL)
An Intermediate High (ITH) is a short-term high that is higher than the short-term highs immediately preceding and succeeding it. Similarly, an Intermediate Low (ITL) is a short-term low that is lower than its neighboring lows.
Importance: These pivots are significantly more important than standard H/L points. They represent a more substantial shift in supply and demand and often mark the beginning or end of a corrective wave within a larger trend. A break of an ITH or ITL suggests a potential change in the intermediate-term trend.
Long Term Highs (LTH) & Lows (LTL)
These are the most critical pivots identified by the indicator. A Long Term High (LTH) is an intermediate high that is higher than the intermediate highs on either side of it. A Long Term Low (LTL) is an intermediate low that is lower than its neighboring intermediate lows.
Importance: LTH and LTL points represent major structural anchors. They often define the boundaries of long-term trading ranges, mark the conclusion of major market cycles, or signal a significant trend reversal. A price break beyond an LTH or LTL is a powerful confirmation that the long-term market structure has shifted.
By understanding this hierarchy, a trader can better assess the strength of a trend. For example, in a strong uptrend, price will consistently form higher L's, IPL's, and LTL's. A break of a key ITL would be the first major warning sign that the dominant bullish structure is in jeopardy.
The Dealing Range: Fibonacci Analysis
Beyond identifying pivots, the indicator's primary function is to establish the current Dealing Range. A dealing range is the price zone between a significant structural pivot and the subsequent impulse move away from it. The indicator uses a proprietary scoring system to objectively identify the most probable and "protected" high or low to anchor these ranges.
How to Use the Dealing Ranges
The indicator will plot two potential dealing ranges, one bullish and one bearish, complete with key Fibonacci retracement levels.
Bullish Dealing Range (Black):
This range is drawn from a significant low (the anchor) up to the highest high formed after that low.
Application: This range highlights potential "discount" buying opportunities. When price pulls back from the high, the Fibonacci levels (e.g., 50%, 61.8%, 78.6%) serve as high-probability zones where buyers may step in to resume the upward trend. The original low of the range is the ultimate invalidation point for this bullish idea.
Invalidation: The bullish range is considered complete and will be removed if the price breaks above the high of the range, as the market has shown its intention to continue higher. The indicator will then seek to establish a new range.
Bearish Dealing Range (White):
This range is drawn from a significant high (the anchor) down to the lowest low formed after that high.
Application: This range identifies potential "premium" selling opportunities. As price rallies from the low, the Fibonacci levels act as potential resistance zones where sellers may re-emerge to continue the downward trend. The original high of the range is the ultimate invalidation for this bearish scenario.
Invalidation: The bearish range is considered complete and will be removed if the price breaks below the low of the range, signaling a continuation of the downtrend. The indicator will then await a new structure to form.
By combining a hierarchical understanding of market structure with automatically drawn Fibonacci dealing ranges, this tool helps traders to objectively identify the trend, frame high-probability trade ideas, and manage risk with clearly defined levels of interest and invalidation.
Control Candle Range [UkutaLabs]Control Candle Range
█ OVERVIEW
The Control Candle Range is a powerful trading tool that automatically identifies control candles in real time. The versatile ranges drawn by this indicator can be used in a variety of trading strategies because they can be used as ranges as well as areas of support and resistance.
The purpose of this script is to simplify the trading experience of users by automatically identifying and displaying Control Candle Ranges.
█ USAGE
A Control Candle is a candle that is followed by two consecutive inside candles. When this pattern is detected, this indicator will automatically identify it and draw a range in real time. This range will continue to extend as long as candles continue to close within the range of the Control Candle. It is important to note that a Control Candle is still valid if the price action exits its range as long as it closes within its range.
This script also supports higher time frame mapping, allowing you to draw Control Candle Ranges from higher timeframes onto lower timeframe charts. This is a powerful feature that allows users to see multiple timeframes worth of information at a glance on one single chart.
Each Control Candle Range will also be displayed with a label to allow users to understand at a glance which timeframe the range is being drawn from. These labels can be turned off in the settings.
The user also has the ability to adjust the color of each timeframe’s ranges.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not identifying labels are displayed on ranges.
• Label Size: Determines the size of labels.
• Text Alignment: Determines where labels are drawn on ranges.
• Max Display: Determines the maximum number of ranges that can be drawn from each timeframe.
Current Timeframe
• Display (On/Off): Determines whether or not ranges from the current timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the current timeframe.
5 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 5 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 5 minute timeframe.
15 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 15 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 15 minute timeframe.
30 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 30 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 30 minute timeframe.
60 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 60 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 60 minute timeframe.
240 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 240 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 240 minute timeframe.
Daily (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the daily timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the daily timeframe.
Advanced Range Theory - ART📊 Advanced Range Theory (ART): The Institutional Blueprint
Stop drawing lines. Start reading the blueprint of the market. Advanced Range Theory (ART) is not another support and resistance indicator; it is a military-grade market structure engine designed to decode the language of institutional capital. It operates on a single, powerful premise: markets move in phases of consolidation and expansion, and the key to anticipation lies in understanding the complete lifecycle of these phases.
ART provides a living, breathing map of the battlefield, identifying institutional accumulation zones and tracking them with unparalleled precision from their inception as "Pending" ranges to their ultimate classification after a breakout. This is your X-ray into the market's skeletal structure.
🔬 THEORETICAL FRAMEWORK: THE ARCHITECTURE OF PRICE ACTION
ART is built on a multi-layered system of logic that moves beyond static levels. It treats ranges as dynamic entities with a narrative—a beginning, a middle, and an end. The core of the system is the dynamic classification engine, which analyzes not just the range, but the character of the price action that resolves it.
1. The Range Lifecycle: From Accumulation to Classification
This is the revolutionary heart of ART. A range's true identity is only revealed by how it is broken.
Phase 1: PENDING (Yellow): A new range is identified based on a period of price consolidation (a "parent" candle followed by a minimum number of "inside" candles). At this stage, it is a neutral zone of potential energy—an area where institutions are likely building positions. It is a question the market has not yet answered.
Phase 2: MITIGATION & CLASSIFICATION: When price breaks out and reaches a calculated extension level, the range is considered "mitigated." At this exact moment, ART analyzes the breakout's DNA to classify the range's true intent:
TYPE 1 - BREAKOUT (Blue): Characterized by a strong, impulsive move with confirming volume. This is a high-conviction breakout, signaling aggressive institutional participation and the likely start of a new trend. It is a statement of intent.
TYPE 2 - REVERSAL (Orange): Occurs when price attempts to break one way but is aggressively rejected, reversing and breaking out the other side. This signals absorption and a "failed auction," often marking significant market turning points.
TYPE 3 - PIVOT (Green): A more balanced breakout, lacking the explosive momentum of a Type 1. This often represents a resolution after a period of indecision or a pivot within a larger trading range.
2. The Hierarchical Map: Source & S/R Levels
ART doesn't just draw boxes; it builds a genealogical map of market structure.
SOURCE LEVEL (Thick Gold Line): This is the "genesis" point—the most recently mitigated range. It acts as the primary point of origin for the current market swing and serves as a critical level for determining overall bias. Price action above the Source is generally bullish; below is bearish.
S/R LEVELS (Cyan Lines): When a range is mitigated, the price level where it broke becomes a key Support/Resistance zone for the future. ART tracks the two most recent S/R levels, as these often act as powerful magnets or rejection points for price.
3. The Multi-Factor Validation Engine
To eliminate noise and focus only on institutionally significant ranges, every potential range must pass a rigorous quality control check:
Time-Based Consolidation: Requires a minimum number of consecutive inside candles (minInsideCandles), ensuring a true period of balance.
Volatility-Based Significance: The range's size must be greater than a multiple of the Average True Range (minRangeSize), filtering out insignificant micro-consolidations.
Participation Confirmation: The parent candle of the range is checked against average volume to ensure there was meaningful activity during its formation.
⚙️ THE COMMAND CONSOLE: CONFIGURING YOUR ART ENGINE
Every input is designed to give you granular control over the detection engine, allowing you to tune ART to any market or timeframe with precision. Each tooltip in the script provides a deep dive, but here is a summary of the core controls.
🎯 ART Detection Engine
Minimum Inside Candles: The soul of the detection algorithm. It defines the minimum number of bars that must be contained within a single "parent" candle to qualify as a range. Higher values (3-4) find major, significant consolidation zones. Lower values (1-2) are more sensitive and will identify shorter-term accumulation patterns.
Extension Multiplier & Fibonacci Extension: These control the profit target projections. The Extension Multiplier uses a simple measured move (e.g., 1.0 = a 1:1 projection of the range's height). The Fibonacci Extension uses the golden ratio (1.618) for harmonically-derived targets.
Mitigation Method (Cross vs. Close): Determines how a breakout is confirmed. Cross is more responsive, triggering as soon as price touches the extension. Close is more conservative, requiring a full candle to close beyond the level, which helps filter out fake-outs from wicks.
Min Range Size (ATR): A crucial noise filter. It ensures that ART ignores tiny, insignificant ranges by requiring a range's height to be a certain multiple of the current market volatility (ATR).
📊 Display & Visual Configuration
These settings give you full control over the visual interface. You can toggle every single element—from the Webb Scanner to the S/R Levels—to create a clean or a comprehensive view. Choose a color theme that suits your charting environment or define a fully custom palette.
🕸️ Webb Analysis Scanner
This is a unique real-time flow analysis tool. It draws dynamic, animated lines from the current price to recent historical points. This visualization helps reveal hidden "tendrils" of momentum and short-term support/resistance that are not immediately obvious, acting as a "sonar" for immediate price flow.
📊 THE ANALYTICS HUB: YOUR DASHBOARD DECODED
The dashboard provides a real-time, at-a-glance intelligence briefing on the current state of market structure as seen by the ART engine.
RANGE METRICS: This section is a "census" of the market's structure. It tells you the total number of ranges identified, how many are still Pending (awaiting a breakout), how many are Unmitigated (active but not yet broken), and how many have been Mitigated (classified and complete).
TYPE BREAKDOWN: This is a powerful gauge of market character. A high count of Type 1 (Breakout) ranges suggests a strong, trending environment. A rising number of Type 2 (Reversal) ranges can signal market exhaustion and potential trend changes. A dominant Type 3 (Pivot) count indicates a balanced, rotational market.
KEY GUIDE: The Large dashboard includes a full legend, so you never have to guess what a line or color represents. It's your built-in user manual.
🎨 DECODING THE BLUEPRINT: A VISUAL INTERPRETATION GUIDE
Every line and color in ART is designed for instant, intuitive understanding.
The Range Lines:
Yellow Lines: A Pending range. This is an active zone of accumulation. Pay close attention.
Colored Lines (Blue/Orange/Green): An unmitigated, classified range. The color tells you its breakout character.
Dotted Lines: A Mitigated range. Its story has been told. These historical levels can still act as support or resistance.
The Identification Zones: These colored boxes appear at a range's origin point after it has been classified. They are the "birth certificate" of the range, permanently marking its type (Breakout, Reversal, or Pivot) and providing an immediate visual history of market behavior.
The Hierarchical Lines:
Thick Gold Line (Source): The most important line on your chart. It is the anchor for your bias.
Cyan Lines (S/R): High-probability decision points. Expect reactions here.
Purple Dotted Lines (Extensions): Logical, calculated profit targets for breaking ranges.
🔧 THE ARCHITECT'S VISION: THE DEVELOPMENT JOURNEY
ART was born from a deep frustration with the static and subjective nature of traditional market structure analysis. Drawing lines by hand is inconsistent, and most indicators are reactive, only confirming what has already happened. The goal was to create a proactive, objective, and dynamic framework that could think about the market in terms of phases and lifecycles.
The breakthrough came from a simple shift in perspective: a range's true character isn't defined when it forms, but by how it resolves. This led to the development of the "post-breakout classification engine," which waits for the market to show its hand before assigning a definitive type. The Webb Scanner was inspired by the desire to visualize the unseen, to create a tool that could feel the immediate "pull" and "push" of price flow. The result is not just an indicator; it is a new language for interpreting price action, built on a foundation of logic, clarity, and precision.
⚠️ RISK DISCLAIMER & BEST PRACTICES
Advanced Range Theory is a professional-grade analytical tool designed to enhance a trader's decision-making process. It does not provide direct buy or sell signals. The levels and classifications it generates are based on historical price action and mathematical probabilities. All trading involves substantial risk, and past performance is not indicative of future results. Always use this tool in conjunction with a robust risk management plan.
"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
— Dskyz, Trade with insight. Trade with anticipation.
— Bruce Lee
Fixed Range LevelsThis indicator draws horizontal price levels on your chart based on a starting price and a range size that you define. It can also draw midpoint lines between the main levels if enabled.
Here's a breakdown of its functionality:
Key Features:
Starting Price:
You define a starting price (e.g., 21630).
The indicator calculates a corrected base price by rounding the starting price to the nearest multiple of the range size.
Range Size:
You define a range size (e.g., 71).
The indicator draws horizontal lines at intervals of the range size above and below the corrected base price.
Dual Ranges:
You can define two range sizes (e.g., 71 and 29).
The indicator can draw levels for both ranges simultaneously or individually, depending on your settings.
Midpoint Lines:
If enabled, the indicator draws midpoint lines between the main levels.
For example, if the main levels are at 21584 and 21655, the midpoint line will be at 21619.5.
Customizable Styles:
You can customize the line style (solid, dotted, dashed) and color for both the main levels and midpoint lines.
Dynamic Levels:
The levels are recalculated and redrawn dynamically based on the starting price and range size.
How It Works:
Corrected Base Price Calculation:
The indicator calculates the corrected base price using the formula:
pinescript
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correctedBasePrice = math.floor(startingPrice / rangeSize) * rangeSize
For example, if startingPrice = 21630 and rangeSize = 71:
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correctedBasePrice = math.floor(21630 / 71) * 71 = 304 * 71 = 21584
Drawing Levels:
The indicator draws horizontal lines at intervals of the range size above and below the corrected base price.
For example, if rangeSize = 71 and maxLevels = 5, the levels will be drawn at:
Copy
21584 - (5 * 71) = 21249
21584 - (4 * 71) = 21320
...
21584 + (5 * 71) = 21939
Midpoint Lines:
If enabled, the indicator draws midpoint lines between the main levels.
For example, if the main levels are at 21584 and 21655, the midpoint line will be at:
Copy
(21584 + 21655) / 2 = 21619.5
Dual Ranges:
If you enable both ranges, the indicator will draw levels for both range sizes simultaneously.
For example, if rangeSize1 = 71 and rangeSize2 = 29, the indicator will draw two sets of levels:
Levels at intervals of 71 (e.g., 21584, 21655, 21726, ...).
Levels at intervals of 29 (e.g., 21634, 21663, 21692, ...).
Example Use Case:
Imagine you're trading a stock or cryptocurrency, and you want to identify key support and resistance levels based on a specific price range. Here's how you can use this indicator:
Set the Starting Price:
For example, if the current price is 21630, you can set this as the starting price.
Define the Range Size:
If you believe the price moves in increments of 71, set rangeSize1 = 71.
If you also want to track smaller increments of 29, set rangeSize2 = 29.
Enable Midpoint Lines:
If you want to see the midpoint between the main levels, enable Show Midpoint Line.
Customize Line Styles:
Choose different colors and styles for the main levels and midpoint lines to make them visually distinct.
Analyze the Chart:
The indicator will draw horizontal lines at the specified intervals, helping you identify potential support, resistance, and midpoint levels.
Why Is This Useful?
Support and Resistance Levels:
The horizontal lines act as dynamic support and resistance levels based on the range size you define.
Price Targets:
You can use the levels to identify potential price targets or areas where the price might reverse.
Midpoint Analysis:
The midpoint lines can help you identify areas of consolidation or potential breakout points.
Flexibility:
You can customize the range sizes, colors, and styles to suit your trading strategy.
Summary:
This indicator is a powerful tool for traders who want to visualize price levels and midpoints based on a specific range size. It helps you identify key levels for support, resistance, and potential price targets, making it easier to plan your trades.
Options Betting Range - Extended# Options Betting Range - Extended
**Options Betting Range - Extended** is a versatile TradingView indicator designed to assist traders in identifying and visualizing optimal options trading ranges for multiple symbols. By leveraging predefined prediction and execution dates along with specific high and low price points, this indicator dynamically draws trendlines to highlight potential options betting zones, enhancing your trading strategy and decision-making process.
## **Key Features**
- **Multi-Symbol Support:** Automatically adapts to popular symbols such as SPY, IWM, QQQ, DIA, TLT, and GOOG, providing tailored options betting ranges for each.
- **Dynamic Trendlines:** Draws both dashed and solid trendlines based on user-defined prediction and execution dates, clearly marking high and low price boundaries.
- **Customizable Parameters:** Easily configure prediction and execution dates, high and low prices, and timezones to suit your specific trading requirements.
- **Single Execution:** Ensures that each trendline is drawn only once per specified prediction date, preventing clutter and maintaining chart clarity.
- **Clear Visual Indicators:** Utilizes color-coded labels to denote high (green) and low (red) price points, making it easy to identify critical trading levels at a glance.
## **How It Works**
1. **Initialization:**
- Upon adding the indicator to your chart, it initializes with predefined symbols and their corresponding high and low price points for two trendlines each.
2. **Configuration:**
- **Trendline 1:**
- **Prediction Date:** Set the year, month, and day when the trendline should be predicted.
- **Execution Date:** Define the year, month, and day when the trendline will be executed.
- **Timezone:** Choose the appropriate timezone to ensure accurate date matching.
- **Trendline 2:**
- Similarly, configure the prediction and execution dates along with the timezone.
3. **Trendline Drawing:**
- On reaching the specified prediction date, the indicator draws dashed trendlines representing the high and low price ranges.
- Solid trendlines are then drawn to solidify the high and low price boundaries.
- Labels are added to clearly mark the high and low price points on the chart.
4. **Visualization:**
- The trendlines and labels provide a visual framework for potential options trading ranges, allowing traders to make informed decisions based on these predefined levels.
## **How to Use**
1. **Add the Indicator:**
- Open your TradingView chart and apply the **Options Betting Range - Extended** indicator.
2. **Select a Symbol:**
- Ensure that the chart is set to one of the supported symbols (e.g., SPY, IWM, QQQ, DIA, TLT, GOOG) to activate the corresponding trendline configurations.
3. **Configure Trendline Parameters:**
- Access the indicator settings to input your desired prediction and execution dates, high and low prices, and select the appropriate timezone for each trendline.
4. **Monitor Trendlines:**
- As the chart progresses to the specified prediction dates, observe the dynamically drawn trendlines and labels indicating the options betting ranges.
5. **Make Informed Trades:**
- Utilize the visual cues provided by the trendlines to identify optimal entry and exit points for your options trading strategies.
## **Benefits**
- **Enhanced Strategy Visualization:** Clearly outlines potential trading ranges, aiding in the formulation and execution of precise options strategies.
- **Time-Saving Automation:** Automatically draws trendlines based on your configurations, reducing the need for manual chart analysis.
- **Improved Decision-Making:** Provides objective price levels for trading, minimizing emotional bias and enhancing analytical precision.
## **Important Considerations**
- **Timezone Accuracy:** Ensure that the timezones selected in the indicator settings align with your chart's timezone to maintain accurate date matching.
- **Chart Timeframe:** The prediction dates should correspond to the timeframe of your chart (e.g., daily, hourly) to ensure that trendlines are triggered correctly.
- **Visible Price Range:** Verify that the high and low prices set for trendlines are within the visible range of your chart to ensure that all trendlines and labels are clearly visible.
## **Conclusion**
**Options Betting Range - Extended** is a powerful tool for traders seeking to automate and visualize their options trading ranges across multiple symbols. By providing clear, customizable trendlines based on specific prediction and execution dates, this indicator enhances your ability to identify and act upon strategic trading opportunities with confidence.
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Candle Range Theory - AlgoVisionUnderstanding Candle Range Theory (CRT) in the AlgoVision Indicator
Candle Range Theory (CRT) is a structured approach to analyzing market movements within the price ranges of candlesticks. CRT is founded on the idea that each candlestick on a chart, regardless of timeframe, represents a distinct range of price action, marked by the candle's open, high, low, and close. This range gives insights into market dynamics, and when analyzed in lower timeframes, reveals patterns that indicate underlying market sentiment and institutional behaviors.
Key Concepts of Candle Range Theory
Candlestick Range: The range of a candlestick is simply the distance between its high and low. Across timeframes, this range highlights significant price behavior, with each candlestick representing a snapshot of price movement. The body (distance between open and close) shows the primary price action, while wicks (shadows) reflect price fluctuations or "noise" around this movement.
Multi-Timeframe Analysis: A higher-timeframe (HTF) candlestick can be dissected into smaller, structured price movements in lower timeframes (LTFs). By analyzing these smaller movements, traders gain a detailed view of the market’s progression within the HTF candlestick’s range. Each HTF candlestick’s high and low provide support and resistance levels on the LTF, where the price can "sweep," break out, or retest these levels.
Market Behavior within the Range: Price action within a range doesn’t move randomly; it follows structured behavior, often revealing patterns. By analyzing these patterns, CRT provides insights into the market’s intention to accumulate, manipulate, or distribute assets within these ranges. This behavior can indicate future market direction and increase the probability of accurate trading signals.
CRT and ICT Power of 3: Accumulation, Manipulation, and Distribution (AMD)
A foundational element of our CRT indicator is its combination with ICT’s Power of 3 (Accumulation, Manipulation, and Distribution or AMD). This approach identifies three stages of market movement:
Accumulation: During this phase, institutions accumulate positions within a tight price range, often leading to sideways movement. Here, price consolidates as institutions carefully enter or exit positions, erasing traces of their intent from public view.
Manipulation: Institutions often use manipulation to create false breakouts, targeting retail traders who enter the market on perceived breakouts or reversals. Manipulation is characterized by liquidity grabs, false breakouts, or stop hunts, as price momentarily moves outside the established range before quickly returning.
Distribution: Following accumulation and manipulation, the distribution phase aligns with the true market direction. Institutions now allow the market to move with the trend, initiating a stronger and more sustained price movement that aligns with their intended position.
This AMD cycle is often observed across multiple timeframes, allowing traders to refine entries and exits by identifying accumulation, manipulation, and distribution phases on smaller timeframes within the range of a higher-timeframe candle. CRT views this cycle as the "heartbeat" of the market—a continuous loop of price movements. With our indicator, you can identify this cycle on your current timeframe, with the signal candle acting as the "manipulation" candle.
How to Use the AlgoVision CRT Indicator
The AlgoVision CRT Indicator is designed to assist traders in identifying actionable points within the candle range framework. Our indicator operates by generating signals on the close of the second candle, setting up the expectation to trade the third candle as the "manipulation" candle. This is where price movement in a targeted direction typically occurs. Once you receive a signal on candle two's close, you can prepare to execute a trade on the next candle based on the manipulation phase within the CRT framework.
By setting alerts on a higher timeframe, you can receive either bullish or bearish signals that prepare you to enter trades on a lower timeframe. For instance, a bullish signal on the higher timeframe may signal to watch for a setup on the lower timeframe, allowing for precision entries during the accumulation or manipulation phases.
Conclusion By combining CRT with ICT Power of 3, the AlgoVision Indicator allows traders to leverage the CRT candlestick as a versatile tool for identifying potential market moves. This method provides beginners and seasoned traders alike with a robust framework to understand market dynamics and refine trade strategies across timeframes. Setting alerts on the higher timeframe to catch bullish or bearish CRT signals allows you to plan and execute trades on the lower timeframe, aligning your strategy with the broader market flow.
DataDoodles ATR RangeThe "DataDoodles ATR Range" indicator provides a comprehensive visual representation of the Average True Range (ATR) levels based on the previous bar's close price . It includes both the raw ATR and an Exponential Moving Average (EMA) of the ATR to offer a smoother view of the range volatility. This indicator is ideal for traders who want to quickly assess potential price movements relative to recent volatility.
Key Features:
ATR Levels Above and Below Close: The indicator calculates and displays three levels of ATR-based ranges above and below the previous close price. These levels are visualized on the chart using distinct colors:
- 1ATR Above/Below
- 2ATR Above/Below
- 3ATR Above/Below
EMA of ATR
Includes the EMA of ATR to provide a smoother trend of the ATR values, helping traders identify long-term volatility trends.
Color-Coded Ranges: The plotted ranges are color-coded for easy identification, with warm gradient tones applied to the corresponding data table for quick reference.
Customizable Table: A data table is displayed at the bottom right corner of the chart, providing real-time values for ATR, EMA ATR, and the various ATR ranges.
Usage
This indicator is useful for traders who rely on volatility analysis to set stop losses, take profit levels, or simply understand the current market conditions. By visualizing ATR ranges directly on the chart, traders can better anticipate potential price movements and adjust their strategies accordingly.
Customization
ATR Length: The default ATR length is set to 14 but can be customized to fit your trading strategy.
Table Positioning: The data table is placed in the bottom right corner by default but can be moved as needed.
How to Use
Add the "DataDoodles ATR Range" indicator to your chart.
Observe the plotted lines for potential support and resistance levels based on recent volatility.
Use the data table for quick reference to ATR values and range levels.
Disclaimer: This indicator is a tool for analysis and should be used in conjunction with other indicators and analysis methods. Always practice proper risk management and consider market conditions before making trading decisions.
Swing Ranges [ChartPrime]Swing Ranges is an indicator designed to provide traders with valuable insights into swing movements and real-time support and resistance (SR) levels. This tool detects price swings and plots boxes around them, allowing traders to visualize the market dynamics efficiently. The indicator's primary focus is on real-time support and resistance levels, empowering traders to make well-informed decisions in dynamic market conditions.
Key Features:
Swing Box Visualization:
Swing Ranges excels at detecting swings in the price data and visually representing them with boxes on the price chart. This enables traders to quickly identify swing ranges, essential for understanding market trends and potential reversal points. VWAP POCs are also provided giving areas of high activity in each block.
Real-Time Support and Resistance Levels:
The core feature of Swing Ranges is its real-time support and resistance levels. These levels are dynamically calculated based on the volume-weighted data for each specific range. The indicator displays the strength of support and resistance zones with percentage bars, indicating the ratio between bullish and bearish volume. This real-time information empowers traders to assess the strength and significance of each SR level, enhancing their ability to execute well-timed trades.
ATR (Average True Range) Value:
Swing Ranges also includes an ATR value label, which shows the Average True Range for the selected period. ATR aids traders in understanding market volatility, enabling them to set appropriate stop-loss and take-profit levels for their trades.
VWAP (Volume Weighted Average Price) Information:
Traders c an readily access the VWAP value through the indicator's label. VWAP provides insights into the average price at which an asset has been traded, helping traders identify potential fair value areas and market trends.
Price Difference Percentage:
Swing Ranges displays the percentage difference between the high and low of each swing. This information allows traders to gauge the magnitude of price movements and assess potential profit targets more effectively.
The indicator also has a NV value. If the NV is high e.g. 10% or more there is indecision in the market and the market is trying to remain in a given range.
Settings Inputs:
1. Length Control:
The Length setting input in Swing Ranges allows traders to adjust the sensitivity of the indicator to detect swings. Traders can customize the length based on their trading strategies and timeframes.
2. ATR Period Adjustment:
The ATR Period input allows traders to fine-tune the calculation period for the Average True Range. This feature enables traders to adapt the indicator to different market conditions and asset classes.
Swing Ranges: Real-Time Support and Resistance Indicator is a comprehensive tool that combines swing visualization with dynamic support and resistance levels. By focusing on real-time SR levels, this indicator equips traders with the essential information needed to make confident trading decisions in ever-changing market conditions.
Evolution Ranger V2This indicator plots 4H and 15M ranges and fractals.
The ranges are formed by the fractals and breaks of these candles
It also shows in a label if the trend BIAS on the 4H is "UC, NFT, FT or SFT" (Long or Short)
This will give the user a BIAS for the coming trading day. So when price breaks out of the plotted range, you'll have a new bias trend change
If it trading within the range, the trend bias remains the same
UC = unconfirmed Bias => wait
NFT= No follow through => Take only trades in the opposite direction from the break
FT = Follow through. => Wait for price to retrace to the other side of the 4H range, than trade in the direction of the BIAS
SFT = Strong follow through => Take trades in the direction of the BIAS anywhere in the 4H range
It draws all the range lines you need, so you don't have to.
4H Range (also on 15M), on the 15M; external and internal ranges.
Lots of possibilities:
-Plots the fractals, so you don't need another indicator. (Option to let the fractals repaint or not)
-4H Fractal Range lines and BIAS (previous fractal break line) and a 4H-BIAS label both on the M15 and 4H charts. No more switching between 4H and 15M charts needed.
-Option to switch on/off historic ranges.
-BIAS label shows 'UC, NFT, FT and SFT' - Long and Short
-Lots of alerts, break of 4H range, 15M external and internal ranges. You can go wild with it. Select 'Alert Once per bar'
-Option to show the 'Inside bar' and in a different candle colour.
-Option to toggle the repaint of fractal when the current candle has not closed yet.
-Option to show the BIAS label only for a confirmed bar while trading in live markets. When 'Off' the BIAS label repaints, but gives information on what might come, when the current bar closes.
-Most of the lines can be adjusted for colour and style to your own liking.
3 Wicks Range - TickSyncThe "3 Wicks Range" indicator, developed by TickSync, is a specialized technical analysis tool designed to identify and highlight potential reversal or continuation patterns in price action. This indicator focuses on detecting overlapping ranges of wicks across three consecutive candles, providing valuable insights into market dynamics.
How It Works
Upper Wick Range: The indicator analyzes the upper wicks of three consecutive candles, checking if they share a common price range. An upper wick is defined as the area between the candle's high and the higher of its open or close.
Lower Wick Range: Similarly, it examines the lower wicks of three consecutive candles for a shared price range. A lower wick is defined as the area between the candle's low and the lower of its open or close.
Visual Representation: When an overlapping range is detected, the indicator draws a semi-transparent yellow box encompassing the shared range area.
Interpretation
Upper Wick Range Overlap: This may indicate bearish pressure or resistance within the highlighted range. It could suggest areas of potential reversal or strong selling interest.
Lower Wick Range Overlap: This may signal bullish pressure or support within the highlighted range. It could indicate areas of potential reversal or strong buying interest.
Context Matters: While these overlapping ranges can be significant, they should be interpreted in conjunction with other technical analysis tools and overall market context.
Trading Applications
Use the highlighted ranges to identify potential areas of price rejection or acceptance.
These patterns could help in pinpointing possible entry or exit points, or in setting stop-loss levels.
The strength of the signal may vary based on the timeframe and prevailing trend.
Customization
Users can adjust the transparency and color of the highlighting boxes in the indicator settings to suit their chart preferences and analysis needs.
Note: The "3 Wicks Range" indicator is a tool to assist in analysis and should not be used as the sole basis for trading decisions. Always combine multiple indicators and conduct thorough analysis before making trading choices.
Developed by TickSync
TheRookAlgo ICT DRThe Rook Algo is a powerful indicator that is useful to identify the current state of the market, it give information about the current dealing range created after price takes both sides of the market as ICT teaches. The indicator give buy and sell signals depending of the market sentiment, it works in all timeframes can be used only in one but the real benefits comes when it is used with a Higher timeframe reference.
How it works?
The Algo analyze the current and previous market structure to identify current ranges and dealing ranges, it give information about the market with the table located in the corners. The table will tell if the market is expanding higher or lower, retracing into the range, consolidating, if a move failed. Will tell if we hit discount or premium, if we might be in a turtle soup enviormment and finally If the range is small or big compared to the previous one. All this is helpful to quickly identify current market context and direction. Is important to keep in mind that this works better in trending markets must be avoided during consolidations. The algo will tell information about current range, current dealing range and previous dealing range. Is ideal to take entries when the 3 are in sync.
Once the indicator detect current market state it will plot an arrow right after the current candle close telling the possible
Market sentiment and probable direction. This signals can be tricked during consolidations. But when we are trending they work very good.
The light green arrow is plotted when price hits discount and is in a bullish enviormment and price makes a close above previous candle high. The dark green arrow is plotted when we are bullish and price makes an impulse and break the range.
The light red arrow is plotted when price hits a premium in a bearish enviormment and price makes a close below previous candle low. The dark red arrow is plotted when we are bearish and price makes and impulse breaking the range.
The white arrows are plotted when price makes a break out or change of current market state and this is counter to the current market enviormment meaning if we are bullish and we get a down impulse white arrow will be plotted. Then same if we are bearish and price makes an up impulse will plot a white arrow. This ones are usually traps but can also be a real breakout. It depends of the market context in the higher timeframe.
The Algo have the option to plot current ranges that are the lines with the cross, this lines change color depending of the market sentiment and market structure. Light Green for bullish expansion and light red for bearish expansion. Dark colors appears when the range is closed. The equilibrium price is plotted in gray, it change to black when it detect contraction and to white when detect expansion of the ranges.
ICT dealing ranges are plotted in white lines with the equilibrium point in yellow. This lines only appear while price is respecting the range and is consolidating inside and price is not expanding.
The indicator also draws some label lines to easily identify the current range and dealing range and if you want the previous dealing range. This line also tell you when price make a Break of structure and where is the ideal change or character for the timeframe we are looking for.
Lastly the The Rook have the option to enable colors in the bars this is helpful to quickly identify the market state, when price is aliged with the current market sentiment light green or red colors tell us that price is in a premium or discount. Dark and gray colors means price is already in an impulse. And finally when there is an absent of color means price is change current state similar to the white arrows. By default this colors are disable. You can edit in settings
How to use it?
After understanding how the rook communicates we can use it to follow the market direction, the best way to use it is waiting for the Range and dealing range a to be aligned for increasing probabilities we can wait for the previous dealing range too, one that’s in play we just wait for a premium or discount light green or light red signal to enter targeting first the break of the range and then holding for profits while is expanding until we get an opposite signal. This give us the possibility to hold for really big runs. See the picture below. This can be used in any timeframe so depending of the timeframe those ranges might be different but the key is to be align also with a higher timeframe direction.
Monte Carlo Range Forecast [DW]This is an experimental study designed to forecast the range of price movement from a specified starting point using a Monte Carlo simulation.
Monte Carlo experiments are a broad class of computational algorithms that utilize random sampling to derive real world numerical results.
These types of algorithms have a number of applications in numerous fields of study including physics, engineering, behavioral sciences, climate forecasting, computer graphics, gaming AI, mathematics, and finance.
Although the applications vary, there is a typical process behind the majority of Monte Carlo methods:
-> First, a distribution of possible inputs is defined.
-> Next, values are generated randomly from the distribution.
-> The values are then fed through some form of deterministic algorithm.
-> And lastly, the results are aggregated over some number of iterations.
In this study, the Monte Carlo process used generates a distribution of aggregate pseudorandom linear price returns summed over a user defined period, then plots standard deviations of the outcomes from the mean outcome generate forecast regions.
The pseudorandom process used in this script relies on a modified Wichmann-Hill pseudorandom number generator (PRNG) algorithm.
Wichmann-Hill is a hybrid generator that uses three linear congruential generators (LCGs) with different prime moduli.
Each LCG within the generator produces an independent, uniformly distributed number between 0 and 1.
The three generated values are then summed and modulo 1 is taken to deliver the final uniformly distributed output.
Because of its long cycle length, Wichmann-Hill is a fantastic generator to use on TV since it's extremely unlikely that you'll ever see a cycle repeat.
The resulting pseudorandom output from this generator has a minimum repetition cycle length of 6,953,607,871,644.
Fun fact: Wichmann-Hill is a widely used PRNG in various software applications. For example, Excel 2003 and later uses this algorithm in its RAND function, and it was the default generator in Python up to v2.2.
The generation algorithm in this script takes the Wichmann-Hill algorithm, and uses a multi-stage transformation process to generate the results.
First, a parent seed is selected. This can either be a fixed value, or a dynamic value.
The dynamic parent value is produced by taking advantage of Pine's timenow variable behavior. It produces a variable parent seed by using a frozen ratio of timenow/time.
Because timenow always reflects the current real time when frozen and the time variable reflects the chart's beginning time when frozen, the ratio of these values produces a new number every time the cache updates.
After a parent seed is selected, its value is then fed through a uniformly distributed seed array generator, which generates multiple arrays of pseudorandom "children" seeds.
The seeds produced in this step are then fed through the main generators to produce arrays of pseudorandom simulated outcomes, and a pseudorandom series to compare with the real series.
The main generators within this script are designed to (at least somewhat) model the stochastic nature of financial time series data.
The first step in this process is to transform the uniform outputs of the Wichmann-Hill into outputs that are normally distributed.
In this script, the transformation is done using an estimate of the normal distribution quantile function.
Quantile functions, otherwise known as percent-point or inverse cumulative distribution functions, specify the value of a random variable such that the probability of the variable being within the value's boundary equals the input probability.
The quantile equation for a normal probability distribution is μ + σ(√2)erf^-1(2(p - 0.5)) where μ is the mean of the distribution, σ is the standard deviation, erf^-1 is the inverse Gauss error function, and p is the probability.
Because erf^-1() does not have a simple, closed form interpretation, it must be approximated.
To keep things lightweight in this approximation, I used a truncated Maclaurin Series expansion for this function with precomputed coefficients and rolled out operations to avoid nested looping.
This method provides a decent approximation of the error function without completely breaking floating point limits or sucking up runtime memory.
Note that there are plenty of more robust techniques to approximate this function, but their memory needs very. I chose this method specifically because of runtime favorability.
To generate a pseudorandom approximately normally distributed variable, the uniformly distributed variable from the Wichmann-Hill algorithm is used as the input probability for the quantile estimator.
Now from here, we get a pretty decent output that could be used itself in the simulation process. Many Monte Carlo simulations and random price generators utilize a normal variable.
However, if you compare the outputs of this normal variable with the actual returns of the real time series, you'll find that the variability in shocks (random changes) doesn't quite behave like it does in real data.
This is because most real financial time series data is more complex. Its distribution may be approximately normal at times, but the variability of its distribution changes over time due to various underlying factors.
In light of this, I believe that returns behave more like a convoluted product distribution rather than just a raw normal.
So the next step to get our procedurally generated returns to more closely emulate the behavior of real returns is to introduce more complexity into our model.
Through experimentation, I've found that a return series more closely emulating real returns can be generated in a three step process:
-> First, generate multiple independent, normally distributed variables simultaneously.
-> Next, apply pseudorandom weighting to each variable ranging from -1 to 1, or some limits within those bounds. This modulates each series to provide more variability in the shocks by producing product distributions.
-> Lastly, add the results together to generate the final pseudorandom output with a convoluted distribution. This adds variable amounts of constructive and destructive interference to produce a more "natural" looking output.
In this script, I use three independent normally distributed variables multiplied by uniform product distributed variables.
The first variable is generated by multiplying a normal variable by one uniformly distributed variable. This produces a bit more tailedness (kurtosis) than a normal distribution, but nothing too extreme.
The second variable is generated by multiplying a normal variable by two uniformly distributed variables. This produces moderately greater tails in the distribution.
The third variable is generated by multiplying a normal variable by three uniformly distributed variables. This produces a distribution with heavier tails.
For additional control of the output distributions, the uniform product distributions are given optional limits.
These limits control the boundaries for the absolute value of the uniform product variables, which affects the tails. In other words, they limit the weighting applied to the normally distributed variables in this transformation.
All three sets are then multiplied by user defined amplitude factors to adjust presence, then added together to produce our final pseudorandom return series with a convoluted product distribution.
Once we have the final, more "natural" looking pseudorandom series, the values are recursively summed over the forecast period to generate a simulated result.
This process of generation, weighting, addition, and summation is repeated over the user defined number of simulations with different seeds generated from the parent to produce our array of initial simulated outcomes.
After the initial simulation array is generated, the max, min, mean and standard deviation of this array are calculated, and the values are stored in holding arrays on each iteration to be called upon later.
Reference difference series and price values are also stored in holding arrays to be used in our comparison plots.
In this script, I use a linear model with simple returns rather than compounding log returns to generate the output.
The reason for this is that in generating outputs this way, we're able to run our simulations recursively from the beginning of the chart, then apply scaling and anchoring post-process.
This allows a greater conservation of runtime memory than the alternative, making it more suitable for doing longer forecasts with heavier amounts of simulations in TV's runtime environment.
From our starting time, the previous bar's price, volatility, and optional drift (expected return) are factored into our holding arrays to generate the final forecast parameters.
After these parameters are computed, the range forecast is produced.
The basis value for the ranges is the mean outcome of the simulations that were run.
Then, quarter standard deviations of the simulated outcomes are added to and subtracted from the basis up to 3σ to generate the forecast ranges.
All of these values are plotted and colorized based on their theoretical probability density. The most likely areas are the warmest colors, and least likely areas are the coolest colors.
An information panel is also displayed at the starting time which shows the starting time and price, forecast type, parent seed value, simulations run, forecast bars, total drift, mean, standard deviation, max outcome, min outcome, and bars remaining.
The interesting thing about simulated outcomes is that although the probability distribution of each simulation is not normal, the distribution of different outcomes converges to a normal one with enough steps.
In light of this, the probability density of outcomes is highest near the initial value + total drift, and decreases the further away from this point you go.
This makes logical sense since the central path is the easiest one to travel.
Given the ever changing state of markets, I find this tool to be best suited for shorter term forecasts.
However, if the movements of price are expected to remain relatively stable, longer term forecasts may be equally as valid.
There are many possible ways for users to apply this tool to their analysis setups. For example, the forecast ranges may be used as a guide to help users set risk targets.
Or, the generated levels could be used in conjunction with other indicators for meaningful confluence signals.
More advanced users could even extrapolate the functions used within this script for various purposes, such as generating pseudorandom data to test systems on, perform integration and approximations, etc.
These are just a few examples of potential uses of this script. How you choose to use it to benefit your trading, analysis, and coding is entirely up to you.
If nothing else, I think this is a pretty neat script simply for the novelty of it.
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How To Use:
When you first add the script to your chart, you will be prompted to confirm the starting date and time, number of bars to forecast, number of simulations to run, and whether to include drift assumption.
You will also be prompted to confirm the forecast type. There are two types to choose from:
-> End Result - This uses the values from the end of the simulation throughout the forecast interval.
-> Developing - This uses the values that develop from bar to bar, providing a real-time outlook.
You can always update these settings after confirmation as well.
Once these inputs are confirmed, the script will boot up and automatically generate the forecast in a separate pane.
Note that if there is no bar of data at the time you wish to start the forecast, the script will automatically detect use the next available bar after the specified start time.
From here, you can now control the rest of the settings.
The "Seeding Settings" section controls the initial seed value used to generate the children that produce the simulations.
In this section, you can control whether the seed is a fixed value, or a dynamic one.
Since selecting the dynamic parent option will change the seed value every time you change the settings or refresh your chart, there is a "Regenerate" input built into the script.
This input is a dummy input that isn't connected to any of the calculations. The purpose of this input is to force an update of the dynamic parent without affecting the generator or forecast settings.
Note that because we're running a limited number of simulations, different parent seeds will typically yield slightly different forecast ranges.
When using a small number of simulations, you will likely see a higher amount of variance between differently seeded results because smaller numbers of sampled simulations yield a heavier bias.
The more simulations you run, the smaller this variance will become since the outcomes become more convergent toward the same distribution, so the differences between differently seeded forecasts will become more marginal.
When using a dynamic parent, pay attention to the dispersion of ranges.
When you find a set of ranges that is dispersed how you like with your configuration, set your fixed parent value to the parent seed that shows in the info panel.
This will allow you to replicate that dispersion behavior again in the future.
An important thing to note when settings alerts on the plotted levels, or using them as components for signals in other scripts, is to decide on a fixed value for your parent seed to avoid minor repainting due to seed changes.
When the parent seed is fixed, no repainting occurs.
The "Amplitude Settings" section controls the amplitude coefficients for the three differently tailed generators.
These amplitude factors will change the difference series output for each simulation by controlling how aggressively each series moves.
When "Adjust Amplitude Coefficients" is disabled, all three coefficients are set to 1.
Note that if you expect volatility to significantly diverge from its historical values over the forecast interval, try experimenting with these factors to match your anticipation.
The "Weighting Settings" section controls the weighting boundaries for the three generators.
These weighting limits affect how tailed the distributions in each generator are, which in turn affects the final series outputs.
The maximum absolute value range for the weights is . When "Limit Generator Weights" is disabled, this is the range that is automatically used.
The last set of inputs is the "Display Settings", where you can control the visual outputs.
From here, you can select to display either "Forecast" or "Difference Comparison" via the "Output Display Type" dropdown tab.
"Forecast" is the type displayed by default. This plots the end result or developing forecast ranges.
There is an option with this display type to show the developing extremes of the simulations. This option is enabled by default.
There's also an option with this display type to show one of the simulated price series from the set alongside actual prices.
This allows you to visually compare simulated prices alongside the real prices.
"Difference Comparison" allows you to visually compare a synthetic difference series from the set alongside the actual difference series.
This display method is primarily useful for visually tuning the amplitude and weighting settings of the generators.
There are also info panel settings on the bottom, which allow you to control size, colors, and date format for the panel.
It's all pretty simple to use once you get the hang of it. So play around with the settings and see what kinds of forecasts you can generate!
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ADDITIONAL NOTES & DISCLAIMERS
Although I've done a number of things within this script to keep runtime demands as low as possible, the fact remains that this script is fairly computationally heavy.
Because of this, you may get random timeouts when using this script.
This could be due to either random drops in available runtime on the server, using too many simulations, or running the simulations over too many bars.
If it's just a random drop in runtime on the server, hide and unhide the script, re-add it to the chart, or simply refresh the page.
If the timeout persists after trying this, then you'll need to adjust your settings to a less demanding configuration.
Please note that no specific claims are being made in regards to this script's predictive accuracy.
It must be understood that this model is based on randomized price generation with assumed constant drift and dispersion from historical data before the starting point.
Models like these not consider the real world factors that may influence price movement (economic changes, seasonality, macro-trends, instrument hype, etc.), nor the changes in sample distribution that may occur.
In light of this, it's perfectly possible for price data to exceed even the most extreme simulated outcomes.
The future is uncertain, and becomes increasingly uncertain with each passing point in time.
Predictive models of any type can vary significantly in performance at any point in time, and nobody can guarantee any specific type of future performance.
When using forecasts in making decisions, DO NOT treat them as any form of guarantee that values will fall within the predicted range.
When basing your trading decisions on any trading methodology or utility, predictive or not, you do so at your own risk.
No guarantee is being issued regarding the accuracy of this forecast model.
Forecasting is very far from an exact science, and the results from any forecast are designed to be interpreted as potential outcomes rather than anything concrete.
With that being said, when applied prudently and treated as "general case scenarios", forecast models like these may very well be potentially beneficial tools to have in the arsenal.
ICT Opening Range Projections (tristanlee85)ICT Opening Range Projections
This indicator visualizes key price levels based on ICT's (Inner Circle Trader) "Opening Range" concept. This 30-minute time interval establishes price levels that the algorithm will refer to throughout the session. The indicator displays these levels, including standard deviation projections, internal subdivisions (quadrants), and the opening price.
🟪 What It Does
The Opening Range is a crucial 30-minute window where market algorithms establish significant price levels. ICT theory suggests this range forms the basis for daily price movement.
This script helps you:
Mark the high, low, and opening price of each session.
Divide the range into quadrants (premium, discount, and midpoint/Consequent Encroachment).
Project potential price targets beyond the range using configurable standard deviation multiples .
🟪 How to Use It
This tool aids in time-based technical analysis rooted in ICT's Opening Range model, helping you observe price interaction with algorithmic levels.
Example uses include:
Identifying early structural boundaries.
Observing price behavior within premium/discount zones.
Visualizing initial displacement from the range to anticipate future moves.
Comparing price reactions at projected standard deviation levels.
Aligning price action with significant times like London or NY Open.
Note: This indicator provides a visual framework; it does not offer trade signals or interpretations.
🟪 Key Information
Time Zone: New York time (ET) is required on your chart.
Sessions: Supports multiple sessions, including NY midnight, NY AM, NY PM, and three custom timeframes.
Time Interval: Supports multi-timeframe up to 15 minutes. Best used on a 1-minute chart for accuracy.
🟪 Session Options
The Opening Range interval is configurable for up to 6 sessions:
Pre-defined ICT Sessions:
NY Midnight: 12:00 AM – 12:30 AM ET
NY AM: 9:30 AM – 10:00 AM ET
NY PM: 1:30 PM – 2:00 PM ET
Custom Sessions:
Three user-defined start/end time pairs.
This example shows a custom session from 03:30 - 04:00:
🟪 Understanding the Levels
The Opening Price is the open of the first 1-minute candle within the chosen session.
At session close, the Opening Range is calculated using its High and Low . An optional swing-based mode uses swing highs/lows for range boundaries.
The range is divided into quadrants by its midpoint ( Consequent Encroachment or CE):
Upper Quadrant: CE to high (premium).
Lower Quadrant: Low to CE (discount).
These subdivisions help visualize internal range dynamics, where price often reacts during algorithmic delivery.
🟪 Working with Ranges
By default, the range is determined by the highest high and lowest low of the 30-minute session:
A range can also be determined by the highest/lowest swing points:
Quadrants outline the premium and discount of a range that price will reference:
Small ranges still follow the same algorithmic logic, but may be deemed insignificant for one's trading. These can be filtered in the settings by specifying a minimum ticks limit. In this example, the range is 42 ticks (10.5 points) but the indicator is configured for 80 ticks (20 points). We can select which levels will plot if the range is below the limit. Here, only the 00:00 opening price is plotted:
You may opt to include the range high/low, quadrants, and projections as well. This will plot a red (configurable) range bracket to indicate it is below the limit while plotting the levels:
🟪 Price Projections
Projections extend beyond the Opening Range using standard deviations, framing the market beyond the initial session and identifying potential targets. You define the standard deviation multiples (e.g., 1.0, 1.5, 2.0).
Both positive and negative extensions are displayed, symmetrically projected from the range's high and low.
The Dynamic Levels option plots only the next projection level once price crosses the previous extreme. For example, only the 0.5 STDEV level plots until price reaches it, then the 1.0 level appears, and so on. This continues up to your defined maximum projections, or indefinitely if standard deviations are set to 0.
This example shows dynamic levels for a total of 6 sessions, only 1 of which meet a configured minimum limit of 50 ticks:
Small ranges followed by significant displacement are impacted the most with the number of levels plotted. You may hide projections when configuring the minimum ticks.
A fixed standard deviation will plot levels in both directions, regardless of the price range. Here, we plot up to 3.0 which hiding projections for small ranges:
🟪 Legal Disclaimer
This indicator is provided for informational and educational purposes only. It is not financial advice, and should not be construed as a recommendation to buy or sell any financial instrument. Trading involves substantial risk, and you could lose a significant amount of money. Past performance is not indicative of future results. Always consult with a qualified financial professional before making any trading or investment decisions. The creators and distributors of this indicator assume no responsibility for your trading outcomes.
