This indicator is particularly valuable for quickly assessing whether the market is bullish (above noise), bearish (below noise) or in a range phase (when prices oscillate without a clear direction).

At a glance, it enables you to adapt your strategy: a trending market will encourage you to favour entries in the direction of the movement, while a range market is more likely to encourage you to exploit turning points. The enormous advantage of this indicator also lies in its versatility, as combining it with several time units enriches the analysis. By observing signals over different timeframes, we can better anticipate future movements and confirm the breaking of important levels (thanks to Prunus Dulcis).

DEFPARAM CALCULATEONLASTBARS = 300
//paramètre//
showhigh=0
//////////////////
timeframe(monthly)
c1=open
if (high[1]-c1[1] )< (c1[1] - low[1]) then
c21=high[1]-c1[1]
endif
if (high[1]-c1[1])>=(c1[1] - low[1]) then
c21=c1[1] -low[1]
endif
if (high[2]-c1[2] )< (c1[2] - low[2]) then
c22=high[2]-c1[2]
endif
if (high[2]-c1[2]) >=(c1[2] - low[2]) then
c22=c1[2] -low[2]
endif
if (high[3]-c1[3] )< (c1[3] - low[3]) then
c23=high[3]-c1[3]
endif
if (high[3]-c1[3]) >=(c1[3] - low[3]) then
c23=high[3] -low[3]
endif
if (high[4]-c1[4] )< (c1[4] - low[4]) then
c24=c1[4]-c1[4]
endif
if (high[4]-c1[4]) >=(c1[4] - low[4]) then
c24=high[4] -low[4]
endif
if (high[5]-c1[5] )< (c1[5] - low[5]) then
c25=high[5]-c1[5]
endif
if (high[5]-c1[5]) >=(c1[5] - low[5]) then
c25=c1[5] -low[5]
endif
if (high[6]-c1[6] )< (c1[6] - low[6]) then
c26=high[6]-c1[6]
endif
if (high[6]-c1[6]) >=(c1[6] - low[6]) then
c26=high[6] -low[6]
endif
if (high[7]-c1[7] )< (c1[7] - low[7]) then
c27=c1[7]-c1[7]
endif
if (high[7]-c1[7]) >=(c1[7] - low[7]) then
c27=high[7] -low[7]
endif
if (high[8]-c1[8] )< (c1[8] - low[8]) then
c28=high[8]-c1[8]
endif
if (high[8]-c1[8] )>=(c1[8] - low[8]) then
c28=c1[8] -low[8]
endif
if (high[9]-c1[9] )< (c1[9] - low[9]) then
c29=high[9]-c1[9]
endif
if (high[9]-c1[9] )>=(c1[9] - low[9]) then
c29=c1[9] -low[9]
endif
if (high[10]-c1[10] )< (c1[10] - low[10]) then
c30=high[10]-c1[10]
endif
if (high[10]-c1[10] )>=(c1[10] - low[10]) then
c30=c1[10] -low[10]
endif
somme=c21+c22+c23+c24+c25+c26+c27+c28+c29+c30
c3=somme/10
canalhaut=c1+c3
canalbas=c1-c3
timeframe(daily)
if month <> month[1] then
debutmois = barindex
endif
if showhigh then
////ONCE MONTH////
once currenthighmonth=high
once currentlowmonth=low
once previoushighmonth=undefined
once previouslowmonth=undefined
///OPEN MONTH////
if openmonth<>openmonth[1] then
debutmois=barindex
previoushighmonth=currenthighmonth
previouslowmonth=currentlowmonth
currenthighmonth=high
currentlowmonth=low
DRAWSEGMENT(debutmois-1,previoushighmonth, debutmois-21,previoushighmonth)
else
currenthighmonth=max(high,currenthighmonth)
currentlowmonth=min(low,currentlowmonth)
endif
endif
drawsegment(debutmois,c1, barindex, c1) coloured(0,0,255) style(dottedline,1)
drawsegment(debutmois,canalhaut, barindex, canalhaut) coloured(255,0,255) style(line,1)
drawsegment(debutmois,canalbas, barindex, canalbas) coloured(0,0,255) style(line,1)
if close>canalhaut and close[1]<=canalhaut then
drawARROWUP(barindex,low)
endif
return