OPEN-SOURCE SCRIPT
Confined Range Candle Finder
This indicator finds candlesticks which are confined within the range of a previous candlestick. This indicates volatility contraction which often leads to volatility expansion, i.e. large price movements.
While every confined range will contain at least 1 inside bar, this indicator differs from the Inside Bar Finder which only finds consecutive inside bars.
This indicator includes options such as:
- The minimum number of candlesticks confined within the range of a previous candlestick to trigger the indicator
- Labels to indicate the number of confined candles
- Signal lines to indicate the high and low of the containing candlestick
Try out this indicator with different options on different timeframes to see if confined ranges increase the probability of identifying the direction of price movements. Breaks or closes outside signal lines can be used to trigger trade signals.
While every confined range will contain at least 1 inside bar, this indicator differs from the Inside Bar Finder which only finds consecutive inside bars.
This indicator includes options such as:
- The minimum number of candlesticks confined within the range of a previous candlestick to trigger the indicator
- Labels to indicate the number of confined candles
- Signal lines to indicate the high and low of the containing candlestick
Try out this indicator with different options on different timeframes to see if confined ranges increase the probability of identifying the direction of price movements. Breaks or closes outside signal lines can be used to trigger trade signals.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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