Smart Ranges

📌 Indicator Name

Smart Ranges – High, Mid & Low Zone Indicator

🎯 Purpose of the Indicator

The Ranges indicator automatically identifies and visualizes High Range, Mid Range, and Low Range price zones based on recent market structure.

It helps traders:

Identify premium (high) and discount (low) price areas

Understand where price is trading relative to its recent range

Improve decision-making for entries, exits, and risk management

⚙️ How the Indicator Works (Logic)

The indicator looks back over a fixed number of candles (default: 130).

It calculates:

Highest High → High Range

Lowest Low → Low Range

Midpoint → Mid Range

These levels are projected forward into future candles to act as reference zones.

A small ATR-based buffer is used to create slim, clean zone boxes instead of thick bands.

📊 Zones Explained
🟣 High Range (Premium Zone)

Based on the highest price in the lookback period

Represents a premium or upper extreme

Often used for:

Profit-taking

Short setups

Watching for reversals

⚪ Mid Range (Equilibrium Zone)

The average between high and low range

Acts as a balance or decision area

Price often reacts here before choosing direction

🟢 Low Range (Discount Zone)

Based on the lowest price in the lookback period

Represents a discount or lower extreme

Often used for:

Long setups

Accumulation areas

Bounce or reversal zones

📐 Inputs & Settings

Zone Lookback Length
Controls how many past candles are used to calculate ranges
(Default: 130)

Zone Forward Extension
Determines how far the zones project into the future
(Default: 30)

Zone Colors
Customize colors for High, Mid, and Low ranges

EMA 15 (Optional)
A short-term EMA can be displayed for trend context
(Disabled by default)

🧭 How to Use the Indicator

Add the indicator to your chart

Observe where price is trading:

Near Low Range → Discount area

Near Mid Range → Neutral / balance

Near High Range → Premium area

Use the zones as context, not signals:

Combine with price action

Use with trend, structure, or volume tools

Best results come when aligned with:

Higher timeframe bias

Market structure

Session behavior

🧪 Example

If price moves into the High Range zone after a strong rally, it may signal:

Reduced upside potential

Possible consolidation or reversal

If price enters the Low Range zone, it may indicate:

Discount pricing

Potential long opportunities (with confirmation)

⚠️ Important Notes & Limitations

This indicator does not repaint once the zone is drawn

Zones update only on the last bar

Should not be used as a standalone trading system

Always use proper risk management

📄 Disclaimer

This indicator is for educational and informational purposes only.
It does not constitute financial advice. Trading involves risk.