Balanced Price Range | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Balanced Price Range (BPR) indicator! A Balanced Price Range is a trading concept used by price action traders. It is detected by finding overlapping area between two contrary Fair Value Gaps (FVGs). These areas can be used as entry points during market pullbacks. For more information about the process, please check the "HOW DOES IT WORK ?" section.
Balanced Price Range Features :
Balanced Price Range Detection : Identifies areas where bullish and bearish FVGs overlap, suggesting a zone of price equilibrium.
Customizable FVG & BPR Detection : You can fine-tune FVG detection and sensitivity for BPR detection to your liking.
Retest Labels : Bullish & Bearish retest labels will be rendered for BPRs.
Alerts : You can set alerts for Bullish & Bearish BPR detection and their retests.
🚩 UNIQUENESS
This indicator doesn't just detect standard FVGs but specifically looks for areas where bullish and bearish IFVGs (Invalidated Fair Value Gaps) overlap, defining a Balanced Price Range. It also actively manages and updates identified BPR zones, removing them when they are invalidated or remain untouched for a specified period. It highlights and alerts users to retests of established BPR zones, signaling potential trading opportunities. Users can tailor the appearance of the BPR zones and retest markers, as well as configure specific alerts for new BPR formations and retests.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. The indicator first detects bullish & bearish FVG zones according to their formations on chart. Then, they are dynamically tracked and flagged as invalidated if the price crosses them, turning them into IFVGs. When a FVG & IFVG of the same type overlaps, the indicator combines them into a single BPR of corresponding type. The detected BPR is updated as new data comes in, and renders retests labels as they occur. A bullish BPR can be used to find long trade entry opportunities, while a bearish BPR can be used to find short trade entry opportunities. Retests can also indicate potential movements in the corresponding direction of the BPR. Users can set-up alerts for BPR detection & BPR retests and will get notified as they occur.
⚙️ SETTINGS
Show Historic Zones: If enabled, invalidated or expired BPR zones will remain visible on the chart.
Balanced Price Range:
FVG Detection Method: Determines the criteria for the bar types forming the initial FVG.
Same: All three bars forming the FVG must be of the same type (all bullish or all bearish).
Mixed: The bar types must vary (a mix of bullish and bearish bars).
All: Bar types can vary or be the same.
FVG Invalidation Method: Determines which part of the candle (wick or close) invalidates the initial FVG.
BPR Invalidation Method: Determines which part of the candle (wick or close) invalidates the Balanced Price Range.
Sensitivity: Adjusts the sensitivity of FVG detection. Higher values may identify fewer, larger BPRs, while lower values may detect more, smaller BPRs.
Labels: Toggles the display of text labels on the identified zones.
Retests: Enables or disables the detection and visualization of BPR retests.
Cari dalam skrip untuk "range"
Trading Sessions [BigBeluga]
This indicator brings Smart Money Concept (ICT) session logic to life by plotting key global trading sessions with volume and delta analytics. It not only highlights session ranges but also tracks their midpoints — which often act as intraday support/resistance levels.
🔵 KEY FEATURES
Visual session boxes: Plots boxes for Tokyo, London, New York, and Sydney sessions based on user-defined UTC+0 time ranges.
Volume & delta metrics: Displays total volume and delta volume (buy–sell difference) within each session.
Mid, High & Low Range Extension: Once a session ends, the high, low, and midpoint levels automatically extend — ideal for detecting SR zones.
Session labels: Each box includes a label with session name, time, volume, and delta for quick reference.
Custom session control: Enable or disable sessions individually and configure start/end times.
Clean aesthetics: Transparent shaded boxes with subtle borders make it easy to overlay without clutter.
Sessions Dashboard: Shows the time range of each session and tells you whether the session is currently active.
🔵 USAGE
Enable the sessions you want to monitor (e.g., New York or Tokyo) from the settings.
Use session volume and delta values to gauge the strength and direction of institutional activity.
Watch for price interaction with the extended range — it often acts as dynamic support/resistance after the session ends.
Overlay it with liquidity tools or breaker blocks for intraday strategy alignment.
🔵 EXAMPLES
Extended Future Range acted as resistance/support.
Delta value helped confirm bullish pressure during New York open.
Multiple sessions helped identify kill zone overlaps and high-volume turns.
Trading Sessions is more than just a visual scheduler — it's a precision tool for traders who align with session-based volume dynamics and ICT methodology. Use it to define high-probability zones, confirm volume shifts, and read deeper into the true intent behind market structure.
StatPivot- Dynamic Range Analyzer - indicator [PresentTrading]Hello everyone! In the following few open scripts, I would like to share various statistical tools that benefit trading. For this time, it is a powerful indicator called StatPivot- Dynamic Range Analyzer that brings a whole new dimension to your technical analysis toolkit.
This tool goes beyond traditional pivot point analysis by providing comprehensive statistical insights about price movements, helping you identify high-probability trading opportunities based on historical data patterns rather than subjective interpretations. Whether you're a day trader, swing trader, or position trader, StatPivot's real-time percentile rankings give you a statistical edge in understanding exactly where current price action stands within historical contexts.
Welcome to share your opinions! Looking forward to sharing the next tool soon!
█ Introduction and How it is Different
StatPivot is an advanced technical analysis tool that revolutionizes retracement analysis. Unlike traditional pivot indicators that only show static support/resistance levels, StatPivot delivers dynamic statistical insights based on historical pivot patterns.
Its key innovation is real-time percentile calculation - while conventional tools require new pivot formations before updating (often too late for trading decisions), StatPivot continuously analyzes where current price stands within historical retracement distributions.
Furthermore, StatPivot provides comprehensive statistical metrics including mean, median, standard deviation, and percentile distributions of price movements, giving traders a probabilistic edge by revealing which price levels represent statistically significant zones for potential reversals or continuations. By transforming raw price data into statistical insights, StatPivot helps traders move beyond subjective price analysis to evidence-based decision making.
█ Strategy, How it Works: Detailed Explanation
🔶 Pivot Point Detection and Analysis
The core of StatPivot's functionality begins with identifying significant pivot points in the price structure. Using the parameters left and right, the indicator locates pivot highs and lows by examining a specified number of bars to the left and right of each potential pivot point:
Copyp_low = ta.pivotlow(low, left, right)
p_high = ta.pivothigh(high, left, right)
For a point to qualify as a pivot low, it must have left higher lows to its left and right higher lows to its right. Similarly, a pivot high must have left lower highs to its left and right lower highs to its right. This approach ensures that only significant turning points are recognized.
🔶 Percentage Change Calculation
Once pivot points are identified, StatPivot calculates the percentage changes between consecutive pivot points:
For drops (when a pivot low is lower than the previous pivot low):
CopydropPercent = (previous_pivot_low - current_pivot_low) / previous_pivot_low * 100
For rises (when a pivot high is higher than the previous pivot high):
CopyrisePercent = (current_pivot_high - previous_pivot_high) / previous_pivot_high * 100
These calculations quantify the magnitude of each market swing, allowing for statistical analysis of historical price movements.
🔶 Statistical Distribution Analysis
StatPivot computes comprehensive statistics on the historical distribution of drops and rises:
Average (Mean): The arithmetic mean of all recorded percentage changes
CopyavgDrop = array.avg(dropValues)
Median: The middle value when all percentage changes are arranged in order
CopymedianDrop = array.median(dropValues)
Standard Deviation: Measures the dispersion of percentage changes from the average
CopystdDevDrop = array.stdev(dropValues)
Percentiles (25th, 75th): Values below which 25% and 75% of observations fall
Copyq1 = array.get(sorted, math.floor(cnt * 0.25))
q3 = array.get(sorted, math.floor(cnt * 0.75))
VaR95: The maximum expected percentage drop with 95% confidence
Copyvar95D = array.get(sortedD, math.floor(nD * 0.95))
Coefficient of Variation (CV): Measures relative variability
CopycvD = stdDevDrop / avgDrop
These statistics provide a comprehensive view of market behavior, enabling traders to understand the typical ranges and extreme moves.
🔶 Real-time Percentile Ranking
StatPivot's most innovative feature is its real-time percentile calculation. For each current price, it calculates:
The percentage drop from the latest pivot high:
CopycurrentDropPct = (latestPivotHigh - close) / latestPivotHigh * 100
The percentage rise from the latest pivot low:
CopycurrentRisePct = (close - latestPivotLow) / latestPivotLow * 100
The percentile ranks of these values within the historical distribution:
CopyrealtimeDropRank = (count of historical drops <= currentDropPct) / total drops * 100
This calculation reveals exactly where the current price movement stands in relation to all historical movements, providing crucial context for decision-making.
🔶 Cluster Analysis
To identify the most common retracement zones, StatPivot performs a cluster analysis by dividing the range of historical drops into five equal intervals:
CopyrangeSize = maxVal - minVal
For each interval boundary:
Copyboundaries = minVal + rangeSize * i / 5
By counting the number of observations in each interval, the indicator identifies the most frequently occurring retracement zones, which often serve as significant support or resistance areas.
🔶 Expected Price Targets
Using the statistical data, StatPivot calculates expected price targets:
CopytargetBuyPrice = close * (1 - avgDrop / 100)
targetSellPrice = close * (1 + avgRise / 100)
These targets represent statistically probable price levels for potential entries and exits based on the average historical behavior of the market.
█ Trade Direction
StatPivot functions as an analytical tool rather than a direct trading signal generator, providing statistical insights that can be applied to various trading strategies. However, the data it generates can be interpreted for different trade directions:
For Long Trades:
Entry considerations: Look for price drops that reach the 70-80th percentile range in the historical distribution, suggesting a statistically significant retracement
Target setting: Use the Expected Sell price or consider the average rise percentage as a reasonable target
Risk management: Set stop losses below recent pivot lows or at a distance related to the statistical volatility (standard deviation)
For Short Trades:
Entry considerations: Look for price rises that reach the 70-80th percentile range, indicating an unusual extension
Target setting: Use the Expected Buy price or average drop percentage as a target
Risk management: Set stop losses above recent pivot highs or based on statistical measures of volatility
For Range Trading:
Use the most common drop and rise clusters to identify probable reversal zones
Trade bounces between these statistically significant levels
For Trend Following:
Confirm trend strength by analyzing consecutive higher pivot lows (uptrend) or lower pivot highs (downtrend)
Use lower percentile retracements (20-30th percentile) as entry opportunities in established trends
█ Usage
StatPivot offers multiple ways to integrate its statistical insights into your trading workflow:
Statistical Table Analysis: Review the comprehensive statistics displayed in the data table to understand the market's behavior. Pay particular attention to:
Average drop and rise percentages to set reasonable expectations
Standard deviation to gauge volatility
VaR95 for risk assessment
Real-time Percentile Monitoring: Watch the real-time percentile display to see where the current price movement stands within the historical distribution. This can help identify:
Extreme movements (90th+ percentile) that might indicate reversal opportunities
Typical retracements (40-60th percentile) that might continue further
Shallow pullbacks (10-30th percentile) that might represent continuation opportunities in trends
Support and Resistance Identification: Utilize the plotted pivot points as key support and resistance levels, especially when they align with statistically significant percentile ranges.
Target Price Setting: Use the expected buy and sell prices calculated from historical averages as initial targets for your trades.
Risk Management: Apply the statistical measurements like standard deviation and VaR95 to set appropriate stop loss levels that account for the market's historical volatility.
Pattern Recognition: Over time, learn to recognize when certain percentile levels consistently lead to reversals or continuations in your specific market, and develop personalized strategies based on these observations.
█ Default Settings
The default settings of StatPivot have been carefully calibrated to provide reliable statistical analysis across a variety of markets and timeframes, but understanding their effects allows for optimal customization:
Left Bars (30) and Right Bars (30): These parameters determine how pivot points are identified. With both set to 30 by default:
A pivot low must be the lowest point among 30 bars to its left and 30 bars to its right
A pivot high must be the highest point among 30 bars to its left and 30 bars to its right
Effect on performance: Larger values create fewer but more significant pivot points, reducing noise but potentially missing important market structures. Smaller values generate more pivot points, capturing more nuanced movements but potentially including noise.
Table Position (Top Right): Determines where the statistical data table appears on the chart.
Effect on performance: No impact on analytical performance, purely a visual preference.
Show Distribution Histogram (False): Controls whether the distribution histogram of drop percentages is displayed.
Effect on performance: Enabling this provides visual insight into the distribution of retracements but can clutter the chart.
Show Real-time Percentile (True): Toggles the display of real-time percentile rankings.
Effect on performance: A critical setting that enables the dynamic analysis of current price movements. Disabling this removes one of the key advantages of the indicator.
Real-time Percentile Display Mode (Label): Chooses between label display or indicator line for percentile rankings.
Effect on performance: Labels provide precise information at the current price point, while indicator lines show the evolution of percentile rankings over time.
Advanced Considerations for Settings Optimization:
Timeframe Adjustment: Higher timeframes generally benefit from larger Left/Right values to identify truly significant pivots, while lower timeframes may require smaller values to capture shorter-term swings.
Volatility-Based Tuning: In highly volatile markets, consider increasing the Left/Right values to filter out noise. In less volatile conditions, lower values can help identify more potential entry and exit points.
Market-Specific Optimization: Different markets (forex, stocks, commodities) display different retracement patterns. Monitor the statistics table to see if your market typically shows larger or smaller retracements than the current settings are optimized for.
Trading Style Alignment: Adjust the settings to match your trading timeframe. Day traders might prefer settings that identify shorter-term pivots (smaller Left/Right values), while swing traders benefit from more significant pivots (larger Left/Right values).
By understanding how these settings affect the analysis and customizing them to your specific market and trading style, you can maximize the effectiveness of StatPivot as a powerful statistical tool for identifying high-probability trading opportunities.
Volume & Range Spike DiamondVolume & Range Spike Diamond
Detect significant volume and price range breakouts directly on your chart with this intuitive indicator.
This TradingView indicator highlights bullish and bearish breakout opportunities by analyzing both volume and price range spikes. Perfect for identifying strong market movements in real-time.
Key Features:
Volume Increase Threshold (%): Customize the percentage increase in volume required to trigger a spike.
Price Range Increase Threshold (%): Define the percentage increase in the price range for additional precision.
Volume Lookback Period: Set the number of bars to calculate the average volume for comparison.
Bullish and Bearish Signals: Highlights bullish spikes below bars and bearish spikes above bars using colored diamonds.
Detailed Labels: Optionally display labels with percentage increases for volume and range.
Alerts Integration: Receive notifications for bullish and bearish breakout conditions.
How It Works:
The indicator compares the current bar's volume to the average volume of previous bars over the specified lookback period.
It also evaluates the price range (high - low) of the current bar against the previous bar.
If both volume and price range exceed their respective thresholds, a breakout condition is flagged.
Bullish spikes are displayed with upward-pointing diamonds below the bars, while bearish spikes use downward-pointing diamonds above the bars.
Optional labels show detailed percentage increases for both metrics.
Customization Options:
// Inputs
volumeIncreaseThreshold = input.float(50, "Volume Increase Threshold (%)", minval=0, step=5)
rangeIncreaseThreshold = input.float(200, "Price Range Increase Threshold (%)", minval=0, step=5)
lookbackPeriod = input.int(5, "Volume Lookback Period", minval=1, maxval=50)
showLastLabel = input.bool(false, "Show Only Last Label")
Alerts Configuration:
Bullish Volume Breakout: Triggered when a bullish spike is detected.
Bearish Volume Breakout: Triggered when a bearish spike is detected.
Enhance your trading strategy by detecting high-probability breakout opportunities with this reliable indicator!
Price Range Volume Profile [Pt]█ Introduction
The Price Range Volume Profile (PRVP) is a revolutionary indicator. This tool stands out from its peers due to its unique ability to capture the entire price chart history, thus providing a comprehensive volume profile of the entire asset's trading history, as available on TradingView chart. It's worth noting that I believe this tool is the first of its kind to accomplish such a feat. A much recommended tool if you are a volume profile trader.
█ Main Features
► Historical Lookback: This feature dives deep into the past, grasping all the historical data of an asset. It's equipped to handle up to 20,000 bars, although users without a premium TradingView account are advised to keep it at a maximum of 10,000 bars, or just use the "Full Historical Lookback" feature.
► Volume Profile / POC: Displays the distribution of volume across price levels for the selected price range. The Point of Control (POC), which is the price level with the highest traded volume, is also highlighted.
► Customization: Users have the flexibility to adjust the profile's appearance, including profile width, horizontal offset, and the option to fill the background of the profile range.
► Time Weighting: This feature allows users to give more weight to recent trading activity, which can be especially useful for intraday traders or during times of high volatility. Note that this feature will impact the volume profile and POC level.
► Settings Table: A settings table is displayed on the chart for users to quickly reference their input parameters.
█ Input Parameters
► Lookback Timeframe: Determines the period for which the volume profile is generated.
► Price Range: The percentage distance to consider for the profile, adjusted above and below the current closing price.
► Profile Step size: The granularity of the volume profile. Users can opt for automatic step size based on a predefined calculation or set their preferred tick step size.
► Historical Bars Lookback: Determines the number of bars to include in the volume profile calculation.
► Profile Visuals: Adjust the appearance and layout of the volume profile on the chart.
► Extra: Additional settings including the display of a settings table and its location.
█ Basic Understanding of Volume Profile - How to use PRVP?
Volume Profile is a valuable tool for traders who want insights into where the majority of trading activity has occurred. Here are some tips to make the most of it:
► Understand the Basics: Before using the Volume Profile, ensure you understand the difference between it and the standard volume histogram. While both represent volume, the former displays it against price while the latter shows it against time.
► Identify High Volume Nodes (HVN) and Low Volume Nodes (LVN):
◊ HVN: Areas where there's a lot of trading activity and where the price has spent a lot of time. These areas can act as strong support or resistance.
◊ LVN: Areas where there's a lack of trading activity. Prices might move quickly through these areas, and they can act as potential breakpoints or accelerators for price movement.
► Locate the Point of Control (POC): This is the price level with the highest traded volume for a specified period. It often acts as a magnet for price, and it can serve as a pivot or reference point.
► Trend Confirmation: A shift in the volume profile from one price level to another can confirm a trend. For instance, if higher volume starts to build at higher price levels, it may indicate a strong uptrend.
► Watch for Volume Gaps: If there's a significant gap in the volume profile, prices may move quickly through these levels as there's little historical trading activity to act as support or resistance.
█ Other Usage Tips
◊ For optimal performance, ensure that the chosen timeframe aligns closely with the chart timeframe. Differences in timeframes may lead to minor discrepancies in the volume profile.
◊ To address any errors arising from too many levels displayed on the volume profile, consider increasing the Profile Step size or reducing the Price Range.
Squeeze Range: Bollinger Bands / Keltner Channels [Whvntr]Presenting Squeeze Range: Bollinger Bands / Keltner Channels
TTMSqueeze method is a volatility and momentum indicator introduced by John Carter of Simpler Trading, which capitalizes on the tendency for price to break out strongly after consolidating in a tight trading range.
How did I make this indicator? The Bollinger Bands & Keltner Channels base scripts are from the standard indicators of their class in the Technicals section... I made this indicator first then noticed there were 3 others with a similar concept, but this differs in it's unique features and application of the TTMSqueeze strategy. This indicator plots the True Range of the Keltner Channel (Customizable in 'Bands Style" in the Inputs Menu) the instances the Bollinger Bands are within the range of the Keltner channel (the market just entered a squeeze).
Featuring: customizable Moving Averages
1. Exponential (Default for both BB & KC)
2. Simple
3. RMA (MA used in RSI )
Keltner channels have a multiplier of 2 & 3 on the Chart (3 being the outer).
How do I use this indicator? Once the teal dots are inside the solid red lines this would indicate that TTMperiod of low market volatility (the market is preparing itself for an explosive move up or down). Do some research and study how to use the TTMSqueeze method by John Carter. Disclaimer: not a guarantee of future favorable results.
SuperTrendRange by DGTSuperTrendRange study attempts to determine the state of the market
• whether a well-established bull/bear trend is present
• whether the market is trading in a range
SuperTrendRange (STR) takes into account the volatility of the market - further details regarding volatility can be found in the description of “Volatility Bands by DGT” study
Due to its similarities to SupertTrend (ST) and Parabolic SAR (SAR), I will try to explain by stating differences between them
SuperTrendRange uses both the ATR (Average True Range) and STDEV (Standard Deviation) as part of its calculations - unlike ST and SAR where they use only ATR
Sensitivity of the indicator is adjusted using the multiplier setting of both ATR and STDEV
Additionally, unlike ST, the source of the basis of SuperTrendRange can be selected among the assets price value or its moving average
Source and Length are adjustable too
The SuperTrendRange, like Parabolic SAR indicator, appears on a chart as a series of dots, either above, below or unlike Parabolic SAR both above and below of the asset's price
A dot placed
- below the price when the market is trending upward
- above the price when it is trending downward
- both above and below when the price starts moving sideways – this is a feature that both SuperTrend and Parabolic SAR misses, where they are known to produce false signals and losing trades, whereas SuperTrendRange emphasis the zones of the ranges occurring and in most cases are considered no trade recommended zones. Please note that the range width may vary depending on how the market is volatile. It is up to the users to trade if it fits their trading strategies
Dots plotted above and below can be assumed as Support and Resistance levels
Example usages – with trading opportunities
Gold Monthly Chart
Bitcoin Daily Chart
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
CUSTOM PRO RANGE V2.0 with AlertsCore Functions
Tracks High/Low Ranges
Daily (DR) or Initial (IDR) ranges within custom time windows (e.g., 9:30 AM–4:00 PM).
Optional extended hours (e.g., overnight).
Visual Tools
Draws boxes/lines for range boundaries, midpoints, and opening prices.
Custom colors/styles for clarity.
Smart Alerts
Notifies when price breaks high/low/mid of the range.
Avoids spam with once-per-bar alerts.
Flexible Timeframes
Works for intraday, daily, or even quarterly ranges with minor tweaks.
🎯 Who It Helps
Day Traders: Spot breakouts/reversals.
Swing Traders: Identify key support/resistance.
Analysts: Study price behavior in specific sessions.
Peak Reaction Zones [BigBeluga]Peak Reaction Zones is an advanced Smart Money Concept (SMC) indicator that identifies the most recent swing high and swing low zones, helping traders determine premium and discount areas for optimal trade positioning.
🔵 Key Features:
Swing High & Low Zones:
Automatically detects the latest swing high and swing low levels.
Helps traders identify key reaction points where price is likely to respond.
Premium & Discount Concept:
The high zone represents a premium area, where price is overextended and may reverse.
The low zone represents a discount area, where price is undervalued and may bounce.
The midline dynamically marks the equilibrium of the range.
Adjustable Zone Width:
Users can fine-tune the width of the zones to match their trading style.
Wider zones capture broader reaction ranges, while narrower zones focus on precise levels.
Zone Retest Signals:
Blue markers appear when price retests the lower reaction zone, signaling potential support.
Orange markers appear when price retests the upper reaction zone, indicating possible resistance.
Price Labels for Key Levels:
Displays the price value of the swing high, swing low, and midline for quick reference.
Helps traders recognize major reaction points at a glance.
🔵 Usage:
Smart Money Trading: Utilize the premium and discount concept to align trades with institutional order flow.
Zone Reactions: Watch for price tests of reaction zones and use the retest signals to confirm potential reversals.
Midline Confirmation: If price holds above or below the midline, it can indicate directional bias.
Scalping & Swing Trading: Short-term traders can look for zone rejections, while swing traders can use the levels for trend continuation setups.
Peak Reaction Zones is a must-have tool for traders looking to trade with Smart Money Concepts, allowing for precise entries and exits based on key liquidity areas and market structure.
Timed Ranges [mktrader]The Timed Ranges indicator helps visualize price ranges that develop during specific time periods. It's particularly useful for analyzing market behavior in instruments like NASDAQ, S&P 500, and Dow Jones, which often show reactions to sweeps of previous ranges and form reversals.
### Key Features
- Visualizes time-based ranges with customizable lengths (30 minutes, 90 minutes, etc.)
- Tracks high/low range development within specified time periods
- Shows multiple cycles per day for pattern recognition
- Supports historical analysis across multiple days
### Parameters
#### Settings
- **First Cycle (HHMM-HHMM)**: Define the time range of your first cycle. The duration of this range determines the length of all subsequent cycles (e.g., "0930-1000" creates 30-minute cycles)
- **Number of Cycles per Day**: How many consecutive cycles to display after the first cycle (1-20)
- **Maximum Days to Display**: Number of historical days to show the ranges for (1-50)
- **Timezone**: Select the appropriate timezone for your analysis
#### Style
- **Box Transparency**: Adjust the transparency of the range boxes (0-100)
### Usage Example
To track 30-minute ranges starting at market open:
1. Set First Cycle to "0930-1000" (creates 30-minute cycles)
2. Set Number of Cycles to 5 (will show ranges until 11:30)
3. The indicator will display:
- Range development during each 30-minute period
- Visual progression of highs and lows
- Color-coded cycles for easy distinction
### Use Cases
- Identify potential reversal points after range sweeps
- Track regular time-based support and resistance levels
- Analyze market structure within specific time windows
- Monitor range expansions and contractions during key market hours
### Tips
- Use in conjunction with volume analysis for better confirmation
- Pay attention to breaks and sweeps of previous ranges
- Consider market opens and key session times when setting cycles
- Compare range sizes across different time periods for volatility analysis
Alans Date Range CalculatorOverview
Setting a date range for backtesting enables you to evaluate your trading strategy under various market conditions. Traders can test a strategy’s performance during specific periods, such as economic downturns, bull markets, or periods of high volatility. This helps assess the trading strategy’s robustness and adaptability across different scenarios.
Specifying years of data instead of just inputting specific start and end dates offers several advantages:
1. **Consistency**: Using a fixed number of years ensures that the testing period is consistent across different strategies or iterations. This makes it easier to compare performance metrics and draw meaningful conclusions.
2. **Flexibility**: Specifying years allows for automatic adjustment of the start date based on the current date or selected end date. This is particularly useful when new data becomes available or when testing on different assets with varying historical data lengths.
3. **Efficiency**: It simplifies updating and retesting strategies. Instead of recalculating specific start dates each time, traders can quickly adjust the number of years to process, making it easier to test strategies over different timeframes.
4. **Comprehensive Analysis**: Broader timeframes defined by years help you evaluate how your strategy performs over multiple market cycles, providing insights into long-term viability and potential weaknesses.
Defining a date range by specifying years allows for more thorough and systematic backtesting, helping traders develop more reliable and effective trading systems.
Alan's Date Range Calculator: A TradingView Pine Script Indicator
Purpose
This Pine Script indicator calculates and displays a date range for backtesting trading strategies. It allows users to specify the number of years to analyze and an end date, then calculates the corresponding start date. Most importantly, users can copy the inputs and function into their own strategies to quickly add a time span feature for backtesting.
Key Features
User-defined input for the number of years to analyze
Customizable end date with a calendar input
Automatic calculation of the start date
Visual display of both start and end dates on the chart
How It Works
User Inputs
Years of Data to Process: An integer input allowing users to specify the number of years for analysis (default: 20, range: 1-100)
End Date: A calendar input for selecting the end date of the analysis period (default: December 31, 2024)
Date Calculation
The script uses a custom function calcStartDate() to determine the start date. It subtracts the specified number of years from the end date's year and sets the start date to January 1st of that year.
Visual Output
The indicator displays two labels on the chart:
Start Date Label: Shows the calculated start date
End Date Label: Displays the user-specified end date
Both labels are positioned horizontally at the bottom of the chart, with the end date label to the right of the start date label.
Applications
This indicator is particularly useful for traders who want to:
Define specific date ranges for backtesting strategies
Quickly visualize the time span of their analysis
Ensure consistent testing periods across different strategies or assets
Customization
Users can easily adjust the analysis period by changing the number of years or selecting a different end date. This flexibility allows for testing strategies across various market conditions and time frames.
Time Range### Indicator Name: **Time Range**
#### Description:
The **Time Range** indicator allows users to highlight specific time ranges on a chart for each day of the week. It uses customizable time inputs for every day (Monday to Sunday), allowing the user to define trading sessions or any time-based range. These sessions are visualized by shading the background of the chart within the defined periods.
#### Key Features:
- **Custom Sessions**: For each day of the week (Monday to Sunday), the user can define a unique time session by specifying the start time using the input fields.
- **Day-wise Session Activation**: The user can toggle the activation of sessions for each day by using checkboxes. If the session for a particular day is disabled, no background shading will appear for that day.
- **Background Highlighting**: When a session is active, the background of the chart during the specified session period will be shaded in gray with a 70% transparency. This helps the user visually identify active time ranges across multiple days.
#### Use Cases:
- **Highlighting Trading Sessions**: Traders can use this indicator to easily visualize specific market sessions such as the New York or London trading sessions.
- **Visualizing Custom Time Blocks**: Can be used to highlight any custom time blocks that are important for the trader, such as key trading hours, news release periods, or other time-based strategies.
#### Customizable Parameters:
- **Day Toggles**: Checkboxes to activate or deactivate sessions for each day of the week.
- **Time Range Inputs**: Time range inputs allow the user to set start times for each session, which are applied based on the user's selection for the day.
This indicator helps streamline chart analysis by giving clear visual markers for time-based events or trading windows.
ATR Gerchik LightAverage True Range ( ATR ) is a technical analysis indicator that measures volatility in the market. ATR is a moving average of the true range over a period of time.
ATR calculation procedure:
1. Determine the true maximum - this is the highest of the current maximum and yesterday's closing price of the day.
2. Determine the true minimum - this is the smallest of the current minimum and yesterday's closing price.
3. Determine the true range - this is the distance between the true maximum and minimum.
4. We exclude extremely large candles (> x2 ATR) and extremely small ones (< 0.5 ATR) from the obtained true ranges.
5. We calculate the average for the selected period based on the remaining range.
6. We calculate the percentage of the current True Range relative to the average ATR value for the previous period.
Description:
If you analyze it yourself, you will see that 75-80% of the time, the instrument moves only 1 ATR per day. You must understand that if an instrument has, for example, moved 80% of its daily range, it is not advisable to purchase it. This is comparable to a car's fuel tank: if the tank is almost empty, the car won't go far. Most indicators that calculate ATR include anomalous candles, which give unreliable results and lead to incorrect decisions. Because of this, many traders prefer to calculate ATR on their own.
However, the Gerchik ATR indicator accounts for anomalous candles and filters out extremely large candles (> 2x ATR) and extremely small ones (< 0.5x ATR). Additionally, this indicator immediately shows the consumed “fuel” of the instrument as a percentage, so you don't have to calculate the distance traveled yourself. This allows you to make quick, informed decisions. If we see that the tank is almost empty, it is logical not to get into that car today. When building any strategy, you must rely on the average movement.
Key Features:
Anomalous Candle Filtering: Excludes extremely large and small candles to provide more reliable ATR values.
Consumed Fuel Indicator: Shows the percentage of the ATR consumed, helping traders quickly assess the remaining potential movement.
Daily Timeframe Focus: Designed specifically for use on daily charts for accurate long-term analysis.
Practical Applications:
Entry and Exit Points: Use the ATR to determine optimal entry and exit points by assessing market volatility and potential price movement.
Stop-Loss Placement: Calculate stop-loss levels based on ATR to ensure they are placed at appropriate distances, accounting for current market volatility.
Trend Confirmation: Use the percentage of ATR consumed to confirm the strength of a trend and decide whether to enter or exit trades.
Examples of Use:
Trend Following: During strong trends, ATR helps identify periods of increased volatility, signaling potential breakouts or reversals.
Range Trading: In ranging markets, ATR can highlight periods of low volatility, indicating consolidation and potential breakout zones.
Note: The indicator is displayed and works only on the daily timeframe!
The indicator was created according to the instructions, description of the functionality, and strategy of Mr. Gerchik. Thank you so much, Chief!
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Average True Range ( ATR , средний истинный диапазон) – это индикатор технического анализа, который измеряет волатильность на рынке. ATR представляет собой скользящее среднее истинного диапазона за определенный период времени.
Порядок расчета ATR:
1. Определяем истинный максимум – это наивысшее из текущего максимума и вчерашней цены закрытия дня.
2. Определяем истинный минимум – это наименьшее из текущего минимума и вчерашней цены закрытия.
3. Определяем истинный диапазон – это расстояние между истинным максимумом и минимумом.
4. Исключаем из полученных истинных диапазонов экстремально большие свечи (> x2 ATR) и экстремально маленькие (< 0.5 ATR).
5. Рассчитываем среднее за выбранный период исходя из оставшегося диапазона.
6 . Рассчитываем процент текущего истинного диапазона (True Range) относительно среднего значения ATR за предыдущий период.
Описание:
Если вы сами проанализируете, то увидите, что 75-80% времени инструмент ходит только 1 ATR. И вы должны понимать, что если инструмент внутри дня прошел, к примеру, 80% своего движения, то этот инструмент больше нельзя покупать. Это можно сравнить с баком машины: если бак почти пустой, машина далеко не уедет. Большинство индикаторов, которые рассчитывают ATR, производят расчет с паранормальными свечами. Это дает недостоверный результат и приводит к неверным решениям. Многие трейдеры из-за этого не используют готовые индикаторы и предпочитают считать ATR самостоятельно. Но индикатор ATR Gerchik учитывает паранормальные свечи и фильтрует экстремально большие свечи (> x2 ATR) и экстремально маленькие (< 0.5 ATR). Также этот индикатор сразу показывает израсходованный "бензин" инструмента в процентах. И вам не надо самостоятельно высчитывать пройденный путь. Вы можете быстро принимать правильные решения. Если мы видим, что бак почти пустой, логично не садиться в эту машину сегодня. Когда вы строите какую-то стратегию, вы должны обязательно полагаться на среднестатистическое движение.
Существует много стратегий, завязанных на ATR, которые учитывают волатильность инструмента, запас хода, точки разворота, места выставления стоп-лоссов (SL) и тейк-профитов (TP) и другие факторы. Я не буду останавливаться на них, так как каждый может найти описание этих стратегий и использовать их на свой выбор.
Индикатор отображается и работает только на дневном таймфрейме!
Индикатор создан по наставлениям, описанию функционала и стратегии господина Герчика. Огромное спасибо, Шеф!
Taylor True Ranges - deviationsDescription:
The Taylor True Ranges - Deviations indicator in Pine Script 5.0 computes various price levels and averages based on Taylor's trading principles. It provides insights into potential buying and selling opportunities by analyzing deviations from average price movements. The indicator calculates and visualizes critical levels such as Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy. These levels are derived from historical price data and help traders identify key support and resistance zones, trend reversals, and breakout points.
Key Features:
Taylor's Trading Principles: The indicator implements Taylor's methodology to analyze price movements and identify trading opportunities based on deviations from average ranges.
Multiple Price Levels: It calculates and displays various price levels, including Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy.
Customizable Visualization: Traders can customize the visualization by toggling the display of individual price levels and adjusting the appearance settings such as line style, color, and text size.
Daily Lookback: The indicator supports a customizable daily lookback period, allowing traders to analyze historical price movements over a specified timeframe.
Usage:
Apply the Taylor True Ranges - Deviations indicator to your chart to analyze deviations from average price movements and identify potential trading opportunities.
Customize the indicator settings, including the daily lookback period, line style, color, and text size, to suit your trading preferences and analysis requirements.
Use the calculated price levels and averages as part of your technical analysis to make informed trading decisions, including identifying support and resistance levels, trend reversals, and breakout points.
Example:
Traders can use the Taylor True Ranges - Deviations indicator to analyze deviations from average price movements and identify key support and resistance levels. For instance, observing a Pivot Brake Sell level crossing above the current price might indicate a potential selling opportunity, while a Pivot Brake Buy level crossing below the price could signal a buying opportunity.
Balance of Force (BOF)The script "Balance of Force" is an indicator that aims to provide insight into the bullish and bearish forces present in the market by analyzing the relationship between bullish and bearish true ranges. The indicator first calculates the bearish and bullish true ranges by taking the absolute difference between the open and close prices for each period and summing these values over a user-specified length. It then calculates the ratio of the bullish true range to the bearish true range and takes the natural logarithm of this value, resulting in the "bullish-bearish ratio".
The script then calculates the standard deviation of this ratio over a user-specified length to create a measure of volatility. Using this deviation and the dominant cycle, it then applies an exponential moving average to smooth the ratio. The indicator plots the smoothed ratio, the raw ratio, and the deviation of the ratio multiplied by 1, 2 and 3 in addition to filling the area between the deviation multiplied by 3 and the log(1) with red and green. The user can use the indicator to identify potential bullish or bearish market conditions by analyzing the relationship between the smoothed ratio and the log(1) and the deviation of the ratio.
Daily/Weekly ExtremesBACKGROUND
This indicator calculates the daily and weekly +-1 standard deviation of the S&P 500 based on 2 methodologies:
1. VIX - Using the market's expectation of forward volatility, one can calculate the daily expectation by dividing the VIX by the square root of 252 (the number of trading days in a year) - also know as the "rule of 16." Similarly, dividing by the square root of 50 will give you the weekly expected range based on the VIX.
2. ATR - We also provide expected weekly and daily ranges based on 5 day/week ATR.
HOW TO USE
- This indicator only has 1 option in the settings: choosing the ATR (default) or the VIX to plot the +-1 standard deviation range.
- This indicator WILL ONLY display these ranges if you are looking at the SPX or ES futures. The ranges will not be displayed if you are looking at any other symbols
- The boundaries displayed on the chart should not be used on their own as bounce/reject levels. They are simply to provide a frame of reference as to where price is trading with respect to the market's implied expectations. It can be used as an indicator to look for signs of reversals on the tape.
- Daily and Weekly extremes are plotted on all time frames (even on lower time frames).
Qullamaggie Daily with ADR% and Compression RangeQullamaggie Daily
This Indicator is a Combination of Moving Averages (Simple and Exponential) as definied from Qullamaggie and used in his TC2000 Setup
Moving Averages:
- The Moving Averages are Guidelines for the current Trend and are not decive for the Entry
- They shall be a quick view and visual assistance to find strong momentum stock that are currently in a Phase of a "Flag Pattern"
ADR% 20 Day:
- Average Daily Range in % should indicate the Momentum of the Stock. It is similar but still works different as the Volalitily indicators.
- A stock is recommend to a have a ADR% above 5-6 to be considered a Momentum Leading Stock.
Consolidation Range:
- This Indicator should help to define Ranges in which the Volumen get compressed(increase) while the price movement is minimal
- A strong breakout is to be expected. The Range should be easier to be identified with this indication.
VWAP Band TrendThis indicator combines two features: VWAP bands for range trading and trends for trend-following.
The white bands offer support/resistance levels ideal for range trading: short when rejecting off the upper band, long when rejecting off the lower. Take profit either when hitting the (faint gray) midline and/or when hitting the band on the far side.
The trend analysis shows green or red ranges above or below the bands to indicate trend strength - larger swaths of green or red indicates strong trend while shorter swathes indicate weak. If the upper trend color doesn't match the lower trend color, the trend is undecided or transitioning.
Optionally, trend initiation indicators can be turned on to show above/below candles where a trend switch is taking place.
Box Range AlertSimple Script for getting alerts on the crossing of Upper & Lower levels either way.
Good for Free users as they can only use 1 alert at a time. So this indicator will be useful to get alerts on both Breakout Or Breakdowns.
Just add input Price manually and set alerts.
Anchored Bollinger Band Range [SS]This is the anchored Bollinger band indicator.
What it does?
The anchored BB indicator:
Takes a user defined range and calculates the Standard Deviation of the entire selected range for the high and low values.
Computes a moving average of the high and low during the selected period (which later becomes the breakout range average)
Anchors to the last high and last low of the period range to add up to 4 standard deviations to the upside and downside, giving you 4 high and low targets.
How can you use it?
The anchored BB indicator has many applicable uses, including
Identifying daily ranges based on premarket trading activity ( see below ):
Finding breakout ranges for intraday pattern setups ( see below ):
Identified pattern of interest:
Applying Anchored BB:
Identifying daily or pattern biases based on the position to the opening breakout range average (blue line). See the examples with explanations:
ex#1:
ex#2:
The Opening Breakout Average
As you saw in the examples above, the blue line represents the opening breakout range average.
This is the average high of the period of interest and the average low of the period of interest.
Price action above this line would be considered Bullish, and Bearish if below.
This also acts as a retracement zone in non-trending markets. For example:
Best Use Cases
Identify breakout ranges for patterns on larger timeframes. For example
This pattern on SPY, if we overlay the Anchored BB:
You want to see it actually breakout from this range and hold to confirm a breakout. Failure to exceed the BB range, means that it is just ranging with no real breakout momentum.
Identify conservative ranges for a specific period in time, for example QQQ:
Worst Use Cases
Using it as a hard and fast support and resistance indicator. This is not what it is for and ranges can be exceeded with momentum. The key is looking for whether ranges are exceeded (i.e. high momentum, thus breakout play) or they are not (thus low volume, rangy).
Using it for longer term outlooks. This is not ideal for long term ranges, as with any Bollinger/standard deviation based approach, it is only responsive to CURRENT PA and cannot forecast FUTURE PA.
User Inputs
The indicator is really straight forward. There are 2 optional inputs and 1 required input.
Period Selection: Required. Selects the period for the indicator to perform the analysis on. You just select it with your mouse on the chart.
Visible MA: Optional. You can choose to have the breakout range moving average visible or not.
Fills: Optional. You can choose to have the fills plotted or not.
And that is the indicator! Very easy to use and hope you enjoy and find it helpful!
As always, safe trades everyone! 🚀
Relative Strength Index With Range ZoneRSI (Relative Strength Index) with 45-55 Range Zone
1. Introduction and Historical Background
The Relative Strength Index (RSI) is a momentum indicator developed in 1978 by J. Welles Wilder Jr. It measures the speed and magnitude of price changes to assess overbought and oversold conditions of an asset. This widely used oscillator ranges between 0 and 100.
Historically, the RSI was mainly used to detect trend reversals by identifying extreme levels: above 70 (overbought) and below 30 (oversold). However, its application has evolved, and new approaches refine its interpretation, such as adding a 45-55 neutral zone to identify consolidation (range) periods.
2. RSI Calculation
The RSI is calculated using the following formula:
RSI=100−(1001+RS)RSI=100−(1+RS100)
Where:
RS=Average gain over N periodsAverage loss over N periodsRS=Average loss over N periodsAverage gain over N periods
• RS (Relative Strength) is the ratio between the average gains and the average losses over N periods (typically 14 periods).
• Gains and losses are calculated based on daily price variations.
Example calculation with a 14-day period:
1. Compute daily gains and losses.
2. Take an exponential or simple moving average of these values over 14 days.
3. Apply the formula to get the RSI value.
3. Classic RSI Usage
The RSI is typically interpreted as follows:
• RSI > 70: Overbought → Possible correction or bearish reversal.
• RSI < 30: Oversold → Possible rebound or bullish reversal.
• RSI between 50 and 70: Bullish momentum.
• RSI between 30 and 50: Bearish momentum.
4. Adding the 45-55 Zone to Identify Range Phases
Adding a neutral zone between 45 and 55 helps identify consolidation periods, when price moves sideways without a strong trend.
• RSI between 45 and 55: The market is in a range, meaning neither buyers nor sellers dominate.
• RSI breaking out of this zone:
o Above 55: Indicates the start of a bullish trend.
o Below 45: Indicates the start of a bearish trend.
This zone is particularly useful for:
• Avoiding false signals by waiting for trend confirmation.
• Identifying ranging markets, favoring range trading strategies (buying at support, selling at resistance).
• Filtering trend-based entries, waiting for the RSI to exit the 45-55 zone.
5. Trading Strategies Using RSI with the 45-55 Range Zone
1. Range Trading:
• When the RSI oscillates between 45 and 55, it signals a lack of strong trend.
• Strategy:
o Identify a support and resistance level.
o Buy near support when the RSI touches 45.
o Sell near resistance when the RSI touches 55.
2. Breakout Trading:
• If the RSI exits the 45-55 zone:
o Above 55 → Buy (start of a bullish trend).
o Below 45 → Sell (start of a bearish trend).
• This breakout can be used as a confirmed entry signal.
3. Confirmation with Divergences:
• A bullish divergence (price making lower lows while RSI makes higher lows) is more relevant if the RSI moves above 55.
• A bearish divergence (price making higher highs while RSI makes lower highs) is stronger if the RSI drops below 45.
6. Conclusion
The RSI is a powerful tool for analyzing price momentum. Adding a 45-55 zone enhances its usage by clearly distinguishing:
• Consolidation phases (range markets).
• Trend beginnings when RSI breaks out of this range.
This approach improves RSI reliability by filtering out false signals and allowing traders to adapt their strategy based on market conditions.
Opening Range Gap + Std Dev [starclique]The ICT Opening Range Gap is a concept taught by Inner Circle Trader and is discussed in the videos: 'One Trading Setup For Life' and 2023 ICT Mentorship - Opening Range Gap Repricing Macro
ORGs, or Opening Range Gaps, are gaps that form only on the Regular Trading Hours chart.
The Regular Trading Hours gap occurs between 16:15 PM - 9:29 AM EST (UTC-4)
These times are considered overnight trading, so it is useful to filter the PA (price action) formed there.
The RTH option is only available for futures contracts and continuous futures from CME Group.
To change your chart to RTH, first things first, make sure you’re looking at a futures contract for an asset class, then on the bottom right of your chart, you’ll see ETH (by default) - Click on that, and change it to RTH.
Now your charts are filtering the price action that happened overnight.
To draw out your gap, use the Close of the 4:14 PM candle and the open of the 9:30 AM candle.
How is this concept useful?
Well, It can be used in many ways.
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How To Use The ORG
One of the ways you can use the opening range gap is simply as support and resistance
If we extend out the ORG from the example above, we can see that there is a clean retest of the opening range gap high after breaking structure to the upside and showing acceptance outside of the gap after consolidating within it.
The ORG High (4:14 Candle Close in this case) was used as support.
We then see an expansion to the upside.
Another way to implement the ORG is by using it as a draw on liquidity (magnet for price)
In this example, if we looked to the left, there was a huge ORG to the downside, leaving a massive gap.
The market will want to rebalance that gap during the regular trading hours.
The market rallies higher, rejects, comes down to clear the current days ORG low, then closes.
That is one example of how you can combine liquidity & ICT market structure concepts with Opening Range Gaps to create a story in the charts.
Now let’s discuss standard deviations.
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Standard Deviations
Standard Deviations are essentially projection levels for ranges / POIs (Point of Interests)
By this I mean, if you have a range, and you would like to see where it could potentially expand to, you’d place your fibonacci retracement tool on and high and low of the range, then use extension levels to find specific price points where price might reject from.
Since 0 and 1 are your Range High and Low respectively, your projection levels would be something like 1.5, 2, 2.5, and 3, for the extension from your 1 Fib Level, and -0.5, -1, -1.5, and -2 for your 0 Fib level.
The -1 and 2 level produce a 1:1 projection of your range low and high, meaning, if you expect price to expand as much as it did from the range low to range high, then you can project a -1 and 2 on your Fib, and it would show you what ICT calls “symmetrical price”
Now, how are standard deviations relevant here?
Well, if you’ve been paying attention to ICT’s recent videos, you would’ve caught that he’s recently started using Standard Deviation levels on breakers.
So my brain got going while watching his video on ORGs, and I decided to place the fib on the ORG high and low and see what it’d produce.
The results were very interesting.
Using this same example, if we place our fib on the ORG High and Low, and add some projection levels, we can see that we rejected right at the -2 Standard Deviation Level.
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You can see that I also marked out the EQ (Equilibrium, 50%, 0.5 of Fib) of the ORG. This is because we can use this level as a take profit level if we’re using an old ORG as our draw.
In days like these, where the gap formed was within a consolidation, and it continued to consolidate within the ORG zone that we extended, we can use the EQ in the same way we’d use an EQ for a range.
If it’s showing acceptance above the EQ, we are bullish, and expect the high of the ORG to be tapped, and vice versa.
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Using The Indicator
Here’s where our indicator comes in play.
To avoid having to do all this work of zooming in and marking out the close and open of the respective ORG candles, we created the Opening Range Gap + Standard Deviations Indicator, with the help of our dedicated Star Clique coder, a1tmaniac.
With the ORG + STD DEV indicator, you will be able to view ORG’s and their projections on the ETH (Electronic Trading Hours) chart.
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Features
Range Box
- Change the color of your Opening Range Gap to your liking
- Enable or disable the box from appearing using the checkbox
Range Midline
- Change the color of your Opening Range Gap Equilibrium
- Enable or disable the midline from appearing using the checkbox
Std. Dev
- Add whichever standard deviation levels you’d like.
- By default, the indicator comes with 0.5, 1, 1.5, and 2 standard deviation levels.
- Ensure that you add a comma ( , ) in between each standard deviation level
- Enable or disable the standard deviations from appearing using the opacity of the color (change to 0%)
Labels / Offset
- Adjust the offset of the label for the Standard Deviations
- Enable or disable the Labels from appearing using the checkbox
Time
- Adjust the time used for the indicators range
- If you’d like to use this for a Session or ICT Killzone instead, adjust the time
- Adjust the timezone used for the time referenced
- Options are UTC, US (UTC-4, New York Local Time) or UK (UTC+1, London Time)
- By default, the indicator is set to US
True Range OscHey fellow traders! I've just published a new indicator called the True Range Oscillator. It's designed to help you better understand price movements and volatility. The indicator calculates the average true range of the price data and uses a modified z-score-like approach to normalize it. The main difference is that it uses true range instead of standard deviation for normalization.
This oscillator identifies the highest and lowest values within a specified range, excluding any outliers based on standard deviations. It then scales the output between 0 and 100, so you can easily see how the current price action compares to its historical range. You can use the True Range Oscillator to spot potential trend reversals and overbought/oversold conditions.
Here are some features to explore:
Customize your price data source (open, high, low, or close).
Adjust the length and smoothing settings for the average true range calculation.
Find outliers with standard deviations, and tweak the outlier_level and dev_lookback options.
Visualize price action with plotted lines for the upper range (70), lower range (30), and center line (50), along with a shaded area between the upper and lower ranges for added clarity.
I hope you find this indicator useful in your trading journey!
