Rangebound — Indicators and Strategies

TNT This script just changes the background of the chart to show Trending(Green) / Range Bound(Red) Regions. The concept is very simple, al each candle we look at the size of the candle and use a moving average of these candle body size (ABS (close-open)) and compare it agains a double smoothened average, i.e. moving average of this average to find trending or not trending periods. I find it useful primarily for entry in options, a green background is more favourable for option buying and a red background is more favourable for option selling. This script tells you nothing about the direction of trade.

Range Bound Channel Index (RBCI) w/ Expanded Source Types [Loxx]Range Bound Channel Index (RBCI) w/ Expanded Source Types is a reversal and trend indicator. This version includes Bollinger bands to show trend exhaustion What is Range Bound Channel Index (RBCI)? Range Bound Channel Index (RBCI) is calculated by using a channel (bandwidth) filter (CF). Channel filter simultaneously fulfills two functions: removes low frequent trend formed by low frequent components of the spectrum; removes high frequency noise formed by the high frequent components of the spectrum. When RBCI approaches its local maximum the prices approach upper border of the trading channel and when RBCI approach its local minimum the prices approach the lower border of the trading corridor. Included: -Toggle on/off bar coloring -Loxx's Expanded Source Types

Stochastic Channels Donchain trend following system with overbought/ oversold areas inspired by stochastic. Multiplier to get non repainting HTF capability. features a smoothed price as well as moving average of the smoothed price, also inspired by the stochastic indicators %K and %D. This and slow stochastics compliment each other nicely. %D line colored by direction. Filled color areas represent overbought/oversold. Shows breakouts as well as giving targets and entries in rangebound markets.

Box Range Alert Simple Script for getting alerts on the crossing of Upper & Lower levels either way. Good for Free users as they can only use 1 alert at a time. So this indicator will be useful to get alerts on both Breakout Or Breakdowns. Just add input Price manually and set alerts.

Fractal Breakout V2 Version 2 of my fractal pattern aid ( Version 1 ). I added a bouncing line between the high and low trend lines, connecting consecutive extreme points. I also chased down a pesky bug in the slope calculation...and for now I have disabled the ability to change resolution basis for extreme detection (e.g. 30m on a 1hr chart). For fun, I added some shading to make it more apparent at a glance what is happening, but if you find it gimmicky, there's an option to turn that off. I am inexperienced with pattern recognition, so please send feedback if you have any ideas that would make this more useful. Thanks! Lemrin

Fractal Breakout First of all, huge credit to synapticEx , whose brilliant use of the security function inspired me to figure out a way to get quasi-shape boundaries automatically drawn on a chart. This study draws upper and lower trend lines, based on configurable fractal*** reversal detection, calculates slope from the last two upper or lower reversal points, and then extends a dotted line along the same slope...until the next upper (or lower) reversal occurs. If the high (or low) breaks this extension, the dotted line becomes solid to aid visibility. Reversal detection is configurable to use any number of ticks, but probably four to eight will work best. I made the inclusion of volume in the reversal logic optional (off by default) and left the existing SMA input found in synapticEx's code intact, albeit with a lower default. With the addition of trend lines, I found volume hindered identification of reversals, although I could try various other filters than the SMA included originally. I have also left intact the very nice ability to change the period and use the requested period identify reversals, courtesy of synapticEx. This could be used in a strategy, as the values plotted are actual values that are available to include in logic and do not include knowledge of the future. However , information is not available until the floor of half the number of ticks used in reversal detection (I then offset by that number to line things up visually). Having never heard of it until now, I just Googled the Bill Williams Alligator strategy, which looks interesting, so maybe I could see how this could be ported to that. ***As I typed this, I remembered that while making reversal detection configurable, I changed the detection logic simply to look for highest (or lowest) of the desired length of ticks. I don't know whether this is not strictly fractal anymore, but if desired, with a little work, I could make it require consecutive, consistent changes before and after each reversal again. Here are a few screenshots from hourly ticks, using the "current" (hourly) period, with and without volume, and playing with the number of points used to identify reversals. Not using volume Using volume

Kay_BBands v2 This is the second version of Kay_BBands. But this is infused with ADX. When +DI (Directional Index) is above -DI, then Upper band will be visible and vice-versa. This is when the ADX is above the threshold. 20 is the default but can be set to 25. When the ADX is below the specified threshold, both bands gets visible, showing no trending conditions. Use it with another band with setting 20/21, 0.6 deviation. Prices keeping above or below the 2nd bands upper or lower bounds shows trending conditions.