Bob Volman - Consolidation Box

6 hari lalu

This indicator identifies consolidation zones based on Bob Volman's scalping methodology. It highlights tight price ranges where the market is coiling before a potential breakout.

🔧 Features

📊 Detects consolidation boxes based on:
• Minimum number of candles
• ATR-based range filter (ATR × multiplier)
• Proximity to EMA (EMA ± multiplier × ATR)

⏩ Automatically extends the box while price remains inside

❌ Option to hide boxes after breakout

🧾 Status line plots:
• 🔺 Box High / 🔻 Box Low
• 📏 Box Range (in ATR units)
• 🕒 Box Length (number of bars)

⚙️ Fully customizable: ATR/EMA lengths, multipliers, border color

🔔 Alert on new consolidation box

🎯 Use Cases

• Identify tight consolidation zones before breakout
  
• Improve scalping entries and exits
  
• Spot potential support/resistance areas
  

✅ Combine with volume, breakout confirmation, market structure, and price action for better accuracy

📚 Inspired by the book: "Understanding Price Action" by Bob Volman

6 hari lalu

Nota Keluaran

✅ Added:

➕ Grouped input settings (General, ATR, EMA, Option, Alert)
➕ Option to show/hide EMA (showEma, default: ON)
➕ Option to show only the latest box (showLastBoxOnly, default: ON)
➕ Option to display box info table (showLastBoxTable, default: ON)
➕ Optional alerts for new box and breakout:
  • alertNewBox (default: OFF)
  • alertBreakingOut (default: ON)

🔔 Alerts:

➕ Breakout and new box alerts are now optional via user settings

🛠 Changed:

➕ Cleaner box lifecycle logic with lastBox handling
➕ UI inputs now grouped for better organization

6 hari lalu

Nota Keluaran

• consolidatingBorderColor: box border color during consolidation (group: Styles)
  
• breakoutBorderColor: box border color on breakout (group: Styles)