CandelaCharts - OHLC Range Map

kelmarin

📝 Overview

Explore the intricate art of candlestick analysis with the OHLC Range Map!

Elevate your TradingView experience by integrating this dynamic tool into your trading strategies with actionable insights. This cutting-edge indicator transcends standard OHLC visuals, leveraging Inner Circle Trader (ICT) concepts to dissect accumulation, manipulation, and distribution on a candle-by-candle basis.

ICT traders recognize manipulation through the wick extending opposite the candle’s close. This movement often serves to mislead market participants into taking positions in the "wrong" direction, signaling potential manipulation legs. Analysts can use these insights to anticipate a candle’s distribution phase. During distribution, price extends to higher or lower levels, offering key clues for identifying liquidity draws, potential retracements, or reversals.



These levels offer valuable insights into order flow, highlighting how price interacts with them and the sequence of its delivery.

To enhance price mapping, the tool also charts the average timing for the completion of manipulation and distribution phases. This feature empowers traders to combine historical timing patterns with the price levels associated with manipulation and distribution for a deeper analysis.

Like all tools based on historical data, this indicator does not guarantee that past patterns will replicate in future market conditions. Designed with a data-driven edge, it highlights moments when candles are likely to reverse following manipulation phases or retrace after completing defined distributions, helping analysts spot potential turning points.

📦 Features

This tool offers a range of powerful features to enhance your trading analysis:

• Average Range Accuracy: Simplify candlestick analysis with advanced lines and labels to pinpoint manipulation, distribution, and time pivots. Graph average ranges for your chosen timeframe to navigate market volatility and uncover key support and resistance zones.
  
• Custom Timeframe Selection: Align your analysis with your trading strategy by choosing a timeframe that highlights the candle’s manipulation, distribution, and key timing.
  
• Real-time Data Feed: Stay updated with live candlestick stats, with each new candle updating OHLC data and performing ongoing historical calculations, even on sub-minute timeframes.
  
• Historical Mapping: Backtest past market scenarios with ease using the historical mapping feature. Traders can revisit and analyze previous data, refine strategies, and customize label displays for journaling flexibility.
  
• User-Friendly Interface: Designed for advanced traders, the intuitive interface allows easy navigation and customization of display settings, offering a personalized experience for data-driven analysis.
  

⚙️ Settings

• Timeframe: Sets the timeframe to which will be drawn.
  
• Period: Controls period length in days.
  
• Algorithm: Sets the desired calculation algorithm.
  
• History: Display Range Map drawings for previous sessions.
  
• Timezone: Dsiplay the data based on the selected timezone.
  
• Use NY Midnight Open: Controls from where a Range Map will start detection.
  
• Opn: Style for Open line.
  
• Man: Style for Manipulation line.
  
• Dis: Style for Distribution line.
  
• Time: Style for Timeline.
  
• Labels: Controls the size and abbreviations.
  
• Line Position: Manage the Range Map line position
  
• Table Position: Manage the Range Map table position
  

⚡️ Showcase

Here’s a visual showcase of the tool in action, highlighting its key features and capabilities:

Manipilation & Distribution


Time


📒 Usage

Here’s how you can use the OHLC Range Map to enhance your analysis:

• Add OHLC Range Map to your Tradingview chart.
  
• Select a timeframe and customize the styles to fit your preferences.
  
• Watch as calculated manipulation, distribution, and delivery times align with your analysis.
  
• Combine this data with other models and insights to strengthen your trading strategy.
  

Example 1


Example 2


By following these steps, you'll unlock powerful insights to refine and elevate your trading strategies.

🔹 Notes

On Bullish candles:

• Manipulation: Open - Low
  
• Distribution: Open - High
  

On Bearish candles:

• Manipulation: Open - High
  
• Distribution: Open - Low
  

Available calculation methods:

• Mean
  
• Median
  

Price patterns on OHLC Range Map:

• Open - -Man - +Dis
  
• Open - -Man - Open - +Dis
  
• Open - -Man - +Man - +Dis
  
• Open - -Man - +Man - -Dis
  
• Open - +Man - -Dis
  
• Open - +Man - Open - -Dis
  
• Open - +Man - -Man - -Dis
  
• Open - +Man - -Man - +Dis
  

🚨 Alerts

The indicator does not provide any alerts!

⚠️ Disclaimer

These tools are exclusively available on the TradingView platform.

Our charting tools are intended solely for informational and educational purposes and should not be regarded as financial, investment, or trading advice. They are not designed to predict market movements or offer specific recommendations. Users should be aware that past performance is not indicative of future results and should not rely on these tools for financial decisions. By using these charting tools, the purchaser agrees that the seller and creator hold no responsibility for any decisions made based on information provided by the tools. The purchaser assumes full responsibility and liability for any actions taken and their consequences, including potential financial losses or investment outcomes that may result from the use of these products.

By purchasing, the customer acknowledges and accepts that neither the seller nor the creator is liable for any undesired outcomes stemming from the development, sale, or use of these products. Additionally, the purchaser agrees to indemnify the seller from any liability. If invited through the Friends and Family Program, the purchaser understands that any provided discount code applies only to the initial purchase of Candela's subscription. The purchaser is responsible for canceling or requesting cancellation of their subscription if they choose not to continue at the full retail price. In the event the purchaser no longer wishes to use the products, they must unsubscribe from the membership service, if applicable.

We do not offer reimbursements, refunds, or chargebacks. Once these Terms are accepted at the time of purchase, no reimbursements, refunds, or chargebacks will be issued under any circumstances.

By continuing to use these charting tools, the user confirms their understanding and acceptance of these Terms as outlined in this disclaimer.