Consolidation Ranges [kingthies]

Consolidation Range Analysis
Published by Eric Thies, January 2021

Indicator Summary
  • This tool calculates, analyzes and plots the visualization of a relative range over a given period of time
  • By adding to charts, users are enabled to see the impulsive nature of market cycles, along with their efforts to consolidate thereafter
  • The default period is 30, and should be adjusted to users preference
  • The default input is the current close price, on the chosen timeframe of the chart

Script Source

// [pine]
//© kingthies || This source code is subject to the terms of the Mozilla Public License 2.0 at
study("Consolidation Ranges [kingthies]", shorttitle="CR [kingthies]", overlay=true)

// !<------ User Inputs -----> 
[symbol=src]src[/symbol] = input(close, title='Range Input (Default set to Close'), lengthEMA=input(30,title='Length'),zoneToggle = input(true, title="Toggle Zone Highlights"), iCol =, 100), 

// !<---- Declarations & Calculations ---- > 
trndUp = float(na),trndDwn = float(na), mid = float(na), e = [__tag__=ema]ema[/__tag__]([symbol=src]src[/symbol], lengthEMA)
trndUp := [symbol=src]src[/symbol] < [symbol=nz]nz[/symbol](trndUp[1]) and [symbol=src]src[/symbol] > trndDwn[1] ? [symbol=nz]nz[/symbol](trndUp[1]) : high, trndDwn := [symbol=src]src[/symbol] < [symbol=nz]nz[/symbol](trndUp[1]) and [symbol=src]src[/symbol] > trndDwn[1] ? [symbol=nz]nz[/symbol](trndDwn[1]) : low, mid := [symbol=avg]avg[/symbol](trndUp, trndDwn)

// !< ---- Plotting -----> 
highRange = plot(trndUp == [symbol=nz]nz[/symbol](trndUp[1]) ? trndUp : na, color=color.white, linewidth=2, style=plot.style_linebr, title="Top of Period Range")
lowRange = plot(trndDwn == [symbol=nz]nz[/symbol](trndDwn[1]) ? trndDwn : na, color=color.white, linewidth=2, style=plot.style_linebr, title="Bottom of Period Range")
xzone = plot(zoneToggle ? [symbol=src]src[/symbol] > e ? trndDwn : trndUp : na, color=iCol, style=plot.style_circles, linewidth=0, editable=false)
fill(highRange, xzone, color=color.lime,transp=70), fill(xzone, lowRange,,transp=70)
// [/pine]

סקריפט קוד פתוח

ברוח TradingView אמיתית, מחבר סקריפט זה פרסם אותו עם קוד פתוח, כך שסוחרים יוכלו להבין ולאמת זאת. הידד למחבר! אתה יכול להשתמש בו בחינם, אך שימוש חוזר בקוד זה בפרסום הנו בכפוף ל כללי הבית . אתה יכול להגדירו כמועדף ולהשתמש בו בגרף.

רוצה להשתמש בסקריפ זה בגרף?


It's a fantastic indicator! It prevents me from taking many losing trades! Thanks so much!
Awesome indicator. 100% accurate entry points. You are a genius. Thank you.
Please specify the operating rules, I am not very good at using it
The default period is 30, and should be adjusted to users preference. What are the days, hours, candles expressed in?
Hello World!