Dawud Range Rover Bars

The Dawud Range Rover Bars indicator is a dynamic technical analysis tool designed to normalize price movements into a 0-100 range, helping traders identify overbought and oversold conditions while incorporating adaptive signal tracking. This indicator utilizes multiple smoothing techniques, including EMA, RMA, SMA, and TMA, allowing traders to filter price movements based on their preferred method. By applying a rolling min-max scaling approach, the script converts price action into a normalized range, making it easier to detect potential trend reversals or continuations.

A key feature of this indicator is its dynamic signal line, which smooths the normalized value to help confirm trend shifts. Traders can adjust the length and smoothing strength of both the primary normalization process and the signal line to fine-tune the sensitivity of the indicator. Overbought and oversold levels are marked with customizable thresholds, providing visual cues to identify key trading opportunities. Additionally, background highlights dynamically change color when the price enters extreme zones, making trend shifts more apparent.

The indicator also incorporates a unique threshold-based bar plotting system that displays colored bars below the price when the normalized value crosses the upper or lower custom thresholds. This provides an additional visual confirmation of extreme price conditions. To ensure accuracy and avoid repainting, historical values are stored in arrays, preventing future bars from influencing past signals. This non-repainting approach makes the Dawud Range Rover Bars a reliable tool for traders looking for consistent signals without the risk of misleading historical data.

By combining trend smoothing, normalization, adaptive signal lines, and threshold-based visual cues, the Dawud Range Rover Bars indicator offers a comprehensive approach to market analysis. It helps traders identify key reversal zones, trend strengths, and breakout opportunities with greater clarity. With its flexibility in customization and non-repainting methodology, this indicator is suitable for traders across different timeframes and asset classes who are looking for a structured and visually intuitive method to assess market conditions.