Range Indicator

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  • #144274 quote
    Ichimoku Reading
    Participant
    Master
    Hello,
    Following the creation of my indicator, I found that it gives interesting results, however, one thing is missing.
    I transmit via this post the indicator that allows me to determine the direction and strength of the trend, the idea would be to get help to build via the information of the indicator, an indicator capable of saying “Range” or “Trend”.
    Using candle configurations seems to me to be a logical and reliable way, I hope we will find the best possible one 😉
    As a reminder, this indicator uses the candle body and the wicks to give information sticks, as a candle does in itself .
    However, I have a lot of trouble finding a method of calculation to determine a range which would certainly be beneficial to more than one
    Here is the indicator
    Looking forward to exchanging

    //
    //============================== Trend haussier
    
    //Configuration haussière
    if (close > open) then
    UP = 1
    
    else
    UP = 0
    
    endif
    
    //Valeurs des configuration haussière
    if (UP = 1)  then
    VHCORP = 0 + (close - open)
    VHMECH = VHCORP + (open - low)
    VHBMECH = 0 - (high - close)
    
    elsif (UP = 0) then
    VHCORP = 0
    VHMECH = 0
    VHBMECH = 0
    
    endif
    
    //============================== Trend baissier
    
    //Configuration baissière
    if (close < open) then
    DW = 1
    
    else
    DW = 0
    
    endif
    
    //Valeurs des configuration baissière
    if (DW = 1) then
    VBCORP = 0 - (open - close)
    VBMECH = VBCORP - (high - open)
    VBHMECH = 0 + (close - low)
    
    elsif (DW = 0) then
    VBCORP = 0
    VBMECH = 0
    VBHMECH = 0
    
    endif
    
    //============================== Trend neutre
    
    //Configuration neutre
    if (close = open) then
    NT = 1
    
    else
    NT = 0
    
    endif
    
    //Valeurs des configuration neutre
    if (NT = 1) then
    VNHMECH = 0 + (open - low)
    VNBMECH = 0 - (high - open)
    
    elsif (NT = 0) then
    VNHMECH = 0
    VNBMECH = 0
    endif
    
    //============================== Fin
    
    return VHCORP coloured (36,147,219) style (histogram,1) as "HCorp" , VHMECH coloured (36,147,219,50) style (histogram,1) as "HMeche" , VHBMECH coloured (101,101,101,50) style (histogram,1) as "HBMeche" , VBCORP coloured (101,101,101) style (histogram,1) as "BCorp" , VBMECH coloured (101,101,101,50) style (histogram,1) as "BMeche" , VBHMECH coloured (36,147,219,50) style (histogram,1) as "BHMeche" , VNHMECH coloured (36,147,219,50) style (histogram,1) as "HMeche Doji" , VNBMECH coloured (101,101,101,50) style (histogram,1) as "BMeche Doji"
    

     

    Depart.itf Capture-décran-2020-09-15-à-06.25.07.png Capture-décran-2020-09-15-à-06.25.07.png
    #145192 quote
    robertogozzi
    Moderator
    Master

    Some ways to (try to) detect a range:

    https://www.prorealcode.com/topic/fehler-zwischen-indikator-und-handelssystem/

    https://www.prorealcode.com/topic/range-compression-indicator/

    You can also tell a likely incoming range when Bollinger Bands enter within a KC channel, or when prices sit within a range of pips in the last N pweriods:

    N       = 50
    MyHI    = highest[N](high)
    MyLO    = lowest[N](low)
    IsRange = (MyHI - MyLO) <= 30 * pipsize
    Ichimoku Reading thanked this post
    #145562 quote
    tecknozic
    Participant
    Average

    Hello IV Mcm,

    I use this indicator, that I modified a bit to be easier to read (I didn’t change the calculation process) :

    https://www.prorealcode.com/prorealtime-indicators/squeeze-momentum-indicator-2/

    It uses Keltner channel + BB, as suggested by Mr Robertogozzi.

    Ichimoku Reading thanked this post
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Range Indicator


ProBuilder: Indicators & Custom Tools

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This topic contains 2 replies,
has 3 voices, and was last updated by tecknozic
5 years, 4 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 09/15/2020
Status: Active
Attachments: 2 files
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