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Equilibrium Range
Equilibrium Range
The Equilibrium Range indicator is designed to help traders identify key zones of market equilibrium, facilitating better decision-making in terms of trade entry, exit, and position management. It dynamically plots a range derived from two significant levels:
High Timeframe Structural Equilibrium: This level is calculated using the swing high and swing low of the largest visible swings on the 5-minute chart, representing the structural price equilibrium.
Previous Day's Equilibrium: Derived from the midpoint of the previous day's high and low, providing a historical reference point for potential support or resistance.
Key Features:
Dynamic Range Visualization: The indicator draws a rectangle representing the equilibrium range between the structural EQ and the previous day's EQ. The range is visually highlighted with a transparent yellow box to enhance clarity.
Integrated Label: A label inside the rectangle identifies the "EQ Range" for easy recognition without cluttering the chart.
Adaptive to Market Structure: Automatically adjusts to significant price movements by recalculating the structural EQ and updating the range accordingly.
Infinite Extension: The equilibrium range is extended to the right of the chart, ensuring its relevance in current and future price action.
Use Cases:
Consolidation Zones: Identify areas where price is likely to consolidate, helping traders avoid entering trades during periods of low volatility.
Entry and Exit Optimization: Use the equilibrium range as a guide for setting take-profits, stop-losses, or for scaling in and out of trades.
Trend Analysis: Monitor how price interacts with the range to gauge market sentiment and potential breakouts.
The Equilibrium Range indicator is designed to help traders identify key zones of market equilibrium, facilitating better decision-making in terms of trade entry, exit, and position management. It dynamically plots a range derived from two significant levels:
High Timeframe Structural Equilibrium: This level is calculated using the swing high and swing low of the largest visible swings on the 5-minute chart, representing the structural price equilibrium.
Previous Day's Equilibrium: Derived from the midpoint of the previous day's high and low, providing a historical reference point for potential support or resistance.
Key Features:
Dynamic Range Visualization: The indicator draws a rectangle representing the equilibrium range between the structural EQ and the previous day's EQ. The range is visually highlighted with a transparent yellow box to enhance clarity.
Integrated Label: A label inside the rectangle identifies the "EQ Range" for easy recognition without cluttering the chart.
Adaptive to Market Structure: Automatically adjusts to significant price movements by recalculating the structural EQ and updating the range accordingly.
Infinite Extension: The equilibrium range is extended to the right of the chart, ensuring its relevance in current and future price action.
Use Cases:
Consolidation Zones: Identify areas where price is likely to consolidate, helping traders avoid entering trades during periods of low volatility.
Entry and Exit Optimization: Use the equilibrium range as a guide for setting take-profits, stop-losses, or for scaling in and out of trades.
Trend Analysis: Monitor how price interacts with the range to gauge market sentiment and potential breakouts.
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