BASCOOL_LibBASCOOL Library v1
Range–Body Structure Analysis Toolkit for Intraday Trading
The BASCOOL Library provides high-quality, reusable Pine Script components for structural conviction analysis based purely on price action. It is designed for intraday traders who rely on volatility-adjusted range expansion and candle-body efficiency to identify strong, weak, or choppy market conditions.
Included Functions
rbm_from_ohlc() – Range–Body Measure (RBM)
A volatility-normalized structure indicator that evaluates:
Range Expansion:
Smooth EMA of (High–Low), normalized by ATR
→ captures strength of movement relative to volatility
Body Efficiency:
Body-to-Range ratio smoothed with EMA
→ measures how much of the candle’s range is “directional”
The RBM output is a smooth structural strength score typically between 0 and 1, where:
High RBM → strong structure, clean movement, trend-friendly conditions
Low RBM → compressed ranges, weak bodies, low-quality structure
Flat RBM → choppy environment, avoid directional trades
ספריית Pine Script®
