Hi All,
I have been looking for sometime on here for an indicator that will identify a range bound market (consolidation) see screenshot.
Ideally marked with a rectangle on the 1H chart, min 5 candles
Does anyone here know of one that is pre-written?, I have tried to write my own but can’t work out the logic properly to code it 🙁
Any help is appreciated, Thank you in advance
Searching this forum for the word RANGE will return many links, among them some useful indicators than you can use as-is or customize to tailor them to fi your requirements:
https://www.prorealcode.com/topic/range-compression-indicator/
https://www.prorealcode.com/prorealtime-indicators/range-coefficient/
https://www.prorealcode.com/prorealtime-indicators/range-filter/
https://www.prorealcode.com/prorealtime-indicators/j-wells-wilder-indicator-reactor/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost
https://www.prorealcode.com/prorealtime-indicators/madrid-trend-squeeze/
https://www.prorealcode.com/prorealtime-indicators/squeeze-light/
Some ways to identify ranging prices can be:
- when Bollnger Bands are within a Keltner Channel
- when Bollinger Bands narrow
- when the price range does not exceed X pips in the last N periods
- when two or more MAs narrow
There are obviously more methods, you need to read them, then decide which one(s) best fit you.