CandleMap — MTF Range Consolidation Tool

CandleMap — MTF Range Consolidation Tool

This indicator highlights multi-timeframe consolidation ranges directly on the chart.
It allows traders to detect when price remains within the high/low boundaries of
recent higher timeframe candles, helping to visualize areas of reduced volatility
and potential breakout zones.

How it works:
- Up to 4 higher timeframes can be tracked simultaneously.
- For each selected timeframe, the script aggregates candles and checks whether
the current price action remains inside the previous range.
- When consolidation is detected, a colored box and label are drawn to outline
the range boundaries.
- An optional dashed midline (average of high and low) can also be displayed.

How to use:
- Apply on intraday charts (1m, 5m, 15m) while enabling higher timeframes such
as H1, H4, or Daily.
- Use consolidation ranges to spot compression areas that may lead to breakouts.
- Each timeframe is color-coded for clarity when multiple ranges overlap.
- Combine with your own confirmation tools or market context analysis.

Notes:
- This is an invite-only script. Access must be requested from the author.