Range Expansion Signal (RES)

Range Expansion Signal (RES)
The Range Expansion Signal (RES) is a lightweight yet effective indicator designed to highlight the internal dynamics of each candle.

🔹 How it works

Calculates the mid-price of each candle (the average between high and low).

Plots a horizontal line at the mid-price level.

Displays the mid-price value as a label on the chart.

Adds a directional marker:

▲ green when the current price is above the mid-price,

▼ red when the current price is below the mid-price.

🔹 How to use it

Quickly assess whether buying or selling pressure dominates within the candle.

Use as a reference in intraday or short-term strategies where range expansion matters.

Ideal for spotting potential breakouts, reversals, or confirming price action setups.

🔹 Why it’s useful
Unlike standard moving averages or static midpoints, RES provides a real-time visual signal directly on each candle. This makes it faster and cleaner to interpret price behavior without cluttering the chart.