I coded this one using Tim West's concept of range expansion bars. It's a nice addition to switch back and forth when using his UDIO bars from the Key Hidden Levels indicator pack to analyze price action on a bar by bar basis. The indicator plots a red or green bar signaling strong buying on selling, which almost always implies continuation, or a good chance to fade any retracements after said bars. Cheers, Ivan.
Awesome man. Nice and neat looking chart too. What colour are you using for your background btw? Very easy on the eyes
IvanLabrie
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A shade of gray, and black bars with light green and red MTPC translucid higher timeframe bars.
Light blue BB and light blue CCI. Makes it easy to distinguish the light green and red arrows and bar highlights from this indicator.
Here's a sample trade:
Divergent high/low and range expansion bar afterwards.
Carl2021111
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great job
M_M_M_M
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Hello thank you for this script. Would appreciate any script suggestion for equities intraday trader for US and AUS stock market? I am currently using a mix of RSI and MACD to determine momentum but sometimes lag and missed out on upside or also sometimes wrong entry point. Thank you :)
IvanLabrie
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@M_M_M_M, I would look at 5 min bars since the session starts.
vaicru
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Hi Ivan
Can you post other examples ?
Thanks
IvanLabrie
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IvanLabrie
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ChartArt
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Thank you for coding this range script. Did you drew the first and third green arrows on your chart, because your "R.E.Signal" script did not turn red again (the bar was without any signal therefore black)? Am I right that this was your buy signal (besides that the bar was outside the Bollinger Band)?