Consolidation/Base

Core Functionality
Identifies Consolidation Zones: Detects periods where price moves within a defined range after significant moves

Fractal-based Detection: Uses highest/lowest points within a loopback period to identify potential consolidation boundaries

Breakout Detection: Flags when price breaks out of consolidation zones

Key Features
Input Parameters
Loopback Period (20): How many bars to look back for fractal detection

Min Consolidation Length (10): Minimum bars required to form a valid consolidation

Visual Customization: Options to show/hide consolidation areas, fractal symbols, and middle lines

Visual Elements
Consolidation Zones: Draws horizontal lines marking the upper and lower boundaries of consolidation areas

Middle Price Line: Displays the midpoint of consolidation ranges (yellow dashed line)

Price Labels: Shows exact price levels for boundaries and middle line

Fractal Breakout Symbols: Marks breakout points with symbols (when enabled)

Technical Logic
Fractal Detection: Identifies local highs/lows using ta.highestbars() and ta.lowestbars()

Direction Tracking: Maintains market direction state (1 for up, -1 for down, 0 for neutral)

Consolidation Counting: Tracks consecutive bars within consolidation boundaries

Breakout Logic: Detects when price breaks above resistance or below support

Use Cases
Range Trading: Identify consolidation zones for range-bound strategies

Breakout Trading: Spot potential breakout levels for momentum entries

Support/Resistance: Dynamic support and resistance levels based on recent price action

Market Structure: Understand current market state (ranging vs. trending)

The indicator is particularly useful for traders looking to capitalize on periods of low volatility that often precede significant price movements.