HRanges

Author’s indicator developed for the reversal strategy.

Indicator on the chart:

To add and configure this indicator, open the Indicator settings window:

Colors

Break Up Color - color setting for range lines when there is an upward breakout.

Maximal Volume Color - color setting for the maximal volume line.

Break Down Color - color setting for range lines when there is a downward breakout.

Flat Color - color setting for lines representing a flat.

Volume Filter

Filter - set filter value.

Hide all - hide markers that do not match the filter.

Bars count filter

Filter - set filter value.

Hide all - hide markers that do not match the filter.

Other

Width - width of the indicator lines.

Calculation

Days Look Back - the number of days used to calculate the indicator. 

HRanges building algorithm

Range begins to build from the first bar of each session and expands until two sequential bars are built beyond the limits of the local minimum or maximum of the range. Afterwards, the current range is fixed, and a new one is built.

In the building process, the current range is by default painted gray. After being fixed (when a break occurs), range changes its color to red or green, depending on the break direction.