[INVX] Trading Range

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[INVX] Trading Range

The “[INVX] Trading Range” indicator visualizes short-term price ranges (typically 1–2 days) based on statistical percentiles of high and low prices relative to the previous day’s close. It provides a clear view of potential support and resistance zones and includes optional EMA overlays for trend context.

Concept & Calculation

• Uses the previous daily close as a reference point.
  
• Calculates percentile-based levels for highs and lows over a configurable lookback period.
  
• Plots two resistance zones and two support zones as shaded areas.
  
• Includes up to 3 optional EMA lines for trend visualization.
  
• Trading range zones are designed for daily-based calculations. If the indicator is applied to a chart timeframe larger than 1 day (e.g., weekly, monthly), the trading range zones will not be displayed.
  

Key Features

• Short-Term Trading Range:
  Displays zones that reflect short-term price behavior (1–2 days).
  
• Percentile-Based Levels:
  Levels are calculated using percentile interpolation for highs and lows.
  
• Historical Lines Option:
  Toggle to show past levels for context.
  
• Realtime Calculation update:
  Update calculations dynamically with the current bar.
  
• EMA Overlay:
  Up to three customizable EMA lines for trend analysis.
  
• Display Line Values:
  Option to show level values on the chart with adjustable label size.
  

Trading Range Settings

• Historical Lines: Show or hide past support/resistance levels.
  
• Realtime Calculation: Enable or disable real-time updates.
  
• Display Line Values: Show numeric values for levels.
  
• Size: Adjust label size when values are displayed.
  

EMA Line Settings

• Enable/disable each EMA line.
  
• Configure length and color for each EMA.
  

Usage Tips

• Use the shaded zones as visual reference areas for short-term price interaction.
  
• Combine with other tools such as trend indicators or volume analysis to strengthen the analysis.
  
• Historical lines can help assess how price has reacted to these zones in the past.
  

Limitations & Disclaimer

• This indicator is provided for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any asset.
  
• Market conditions, asset volatility, and timeframe selection may significantly affect indicator performance.
  
• Users should always validate signals with additional analysis and apply appropriate risk management strategies.
  
• Past performance is not indicative of future results. Use indicator at your own discretion and risk.
  
• Under no circumstances shall InnovestX be liable for any loss or damage you or anyone else incur as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through InnovestX or TradingView.
  

17 jam lalu

Nota Keluaran

Change Log

• Fixed bugs
  
• Renamed Realtime Calculation to Next Trading Day Calculation to avoid confusion
  
• Next Trading Day Calculation Option: Calculates values for the next trading day, but only after the 1-day timeframe chart’s closing price is finalized