OPEN-SOURCE SCRIPT
Candle Range [MMT]
Candle Range [MMT] maps active candle ranges across an execution timeframe and higher-timeframe context.
A range uses the seed candle’s full wick high/low and remains active until a candle closes strictly above the high or below the low. That breakout candle becomes the new range, with bullish or bearish direction assigned from the reset. Treat the range like a mother bar. Any candle that doesn't close out side of the mother bar remains as children bars.
Features:
• Execution and context range grids
• High, low, midpoint, 25%, and 75% levels
• Bullish/bearish or single-color styling
• Optional fills, labels, historical grids, and forward projection
• Sweep markers when price wicks outside the execution range and closes back inside
• Optional execution midpoint reclaim/loss markers
• Context/execution alignment and confirmation read
• Range position, breakout strength, and range age
• Historical transition statistics with sample counts
• Data Window outputs for all key range levels and readings
• Alerts for range resets, sweeps, and midpoint events
How To Use It
• Define your context range (1hr for example).
• Move down to your preferred execution timeframe.
• If context range is bullish, only trade long when execution timeframe is also bullish. Vice versa for shorts.
• Preferred entry is at 50% of the execution timeframe.
• Target can be the high/low of the execution timeframe for quick scalp, or aim to hit context range high/low.
• Exit when range is flipped in execution timeframe.
• Don't trade against execution timeframe range direction, i.e DO NOT shorts when range is bullish, even when context range is bearish. This ensures you have higher probability of hitting the trade.
Use the context range for broader directional structure and the execution range for shorter-term confirmation, pullbacks, sweeps, and range transitions.
Statistics are descriptive historical readings based only on confirmed range transitions available on the chart; they are not predictions or trading advice.
A range uses the seed candle’s full wick high/low and remains active until a candle closes strictly above the high or below the low. That breakout candle becomes the new range, with bullish or bearish direction assigned from the reset. Treat the range like a mother bar. Any candle that doesn't close out side of the mother bar remains as children bars.
Features:
• Execution and context range grids
• High, low, midpoint, 25%, and 75% levels
• Bullish/bearish or single-color styling
• Optional fills, labels, historical grids, and forward projection
• Sweep markers when price wicks outside the execution range and closes back inside
• Optional execution midpoint reclaim/loss markers
• Context/execution alignment and confirmation read
• Range position, breakout strength, and range age
• Historical transition statistics with sample counts
• Data Window outputs for all key range levels and readings
• Alerts for range resets, sweeps, and midpoint events
How To Use It
• Define your context range (1hr for example).
• Move down to your preferred execution timeframe.
• If context range is bullish, only trade long when execution timeframe is also bullish. Vice versa for shorts.
• Preferred entry is at 50% of the execution timeframe.
• Target can be the high/low of the execution timeframe for quick scalp, or aim to hit context range high/low.
• Exit when range is flipped in execution timeframe.
• Don't trade against execution timeframe range direction, i.e DO NOT shorts when range is bullish, even when context range is bearish. This ensures you have higher probability of hitting the trade.
Use the context range for broader directional structure and the execution range for shorter-term confirmation, pullbacks, sweeps, and range transitions.
Statistics are descriptive historical readings based only on confirmed range transitions available on the chart; they are not predictions or trading advice.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.