LazyBear

Range Identifier [LazyBear]

---- May 05 2015 -----

Added support for filtered ranges:
RID V3 : http://pastebin.com/Z11JYVQK

RIDv3 has full backward compatibility (!?), meaning all my descriptions below still apply for V3.
-- In addition, I have added a NON-OVERLAY mode, which can be put in its own pane, that shows the number of bars in the current range.
-- in Overlay mode, you can switch on/off filtering ranges based on the bar count.

Sample chart:

---- April 30 2015 -----

Updated the source to show a connected Midline only when ConnectRanges option is enabled.
Updated src: http://pastebin.com/xgweVbrC

Sample chart:

---- Original Desc ----

This is a simple indicator that highlights the price ranges. Very helpful in determining a breakout.

There are many ways to incorporate this in to your strategy. One simple idea could be to buy if the price breaks above a range, when above the specified EMA , and to SELL when it breaks down from a range below the EMA .

All options are configurable. Alerts can be setup using the specified plot names.

By default it shows only the ranges, but can be configured to show the full "channel". Chart below shows connected ranges with highlights ON.

Range highlighting can be turned OFF. Chart below shows that:

Note for the pine coders:
As you probably noticed in the charts above, single range is showing 2 colors(red/green). Fill() doesn't accept a series for colors, so I worked around this using two fill() statements with a moving DUMMY line, to get this mixed color effect.

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
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?
//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
//
study("Range Identifier [LazyBear]", shorttitle="RID_LB", overlay=true)
connectRanges=input(false, title="Connect Ranges")
showMidLine=input(false, title="Show MidLine")
lengthEMA=input(34, title="EMA Length")
showEMA=input(true, title="Show EMA")
hc=input(true, title="Highlight Consolidation")
e=ema(close,lengthEMA)
up = close<nz(up[1]) and close>down[1] ? nz(up[1]) : high
down = close<nz(up[1]) and close>down[1] ? nz(down[1]) : low
mid = avg(up,down)
ul=plot(connectRanges?up:up==nz(up[1])?up:na, color=gray, linewidth=2, style=linebr, title="Up")
ll=plot(connectRanges?down:down==nz(down[1])?down:na, color=gray, linewidth=2, style=linebr, title="Down")
dummy=plot(hc?close>e?down:up:na, color=gray, style=circles, linewidth=0, title="Dummy")
fill(ul,dummy, color=lime)
fill(dummy,ll, color=red)
plot(showMidLine?mid:na, color=gray, linewidth=1, title="Mid")
plot(showEMA?e:na, title="EMA", color=black, linewidth=2)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

תגובות

Some interesting ranges :)

BTCUSD ranges before the bull run


GOOGL broke above the range


YHOO at the bottom of its range


EA testing the range top
+2 השב
tprasad1984 LazyBear
@LazyBear, thank you sir
השב
Very nice. Thanks for your hard work.
+1 השב
LazyBear FrankTurd
yw :)
+1 השב
Please do to the middle line is visible only in the areas of Range and not on the entire chart
http://jpegshare.net/code/e1/95/e19560bf21da7d5125effbb07e9f6330.gif.html
+1 השב
LazyBear NEKSUS_
Here you go. Updated source here -> http://pastebin.com/xgweVbrC

+2 השב
NEKSUS_ LazyBear
Many Thanks )
+1 השב
How hard would it be to replicate what you're doing here in cTrader?
השב
AlexMihail AlexMihail
Question still stands :P @LazyBear
השב
theheirophant AlexMihail
@AlexMihail, bro he hasnt been around since 2015, dont hold your breath for a reply
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