RTH Range Gauge [JackVi]
RTH Range Gauge measures how big today's regular-session range is compared with recent sessions, live, as the session unfolds. It answers a simple question intraday traders ask every morning: is today a normal day, or is it stretching into something bigger?
WHAT IT DOES
- Tracks the regular-session (RTH) open, high and low for the current day.
- Averages the full RTH range of the last N completed sessions (default 20).
- Shows today's range as a percentage of that average, plus its percentile rank versus those sessions.
- Draws two average-range projection levels: session low + average range, and session high - average range. These are the prices where today's range would equal a typical day. Once price trades beyond one of them, the day has already exceeded a normal range.
- Tints the background when the range passes two expansion thresholds (default 100% and 150% of average) and provides alerts for both.
- Displays a compact gauge table: today's range, average range, % of average, percentile, and how much of the session has elapsed.
HOW IT WORKS
Each bar inside the session updates the running high and low. When the session ends, its full range is stored, and only completed sessions feed the average and percentile, so values on historical bars match what you would have seen live (no future data). Elapsed % uses clock time from the session open and the session length input.
HOW TO USE IT
- Early in the session, a range already near 100% of average with most of the day left suggests an expanding day; a range near 40% late in the day suggests a quiet, rotational session.
- The projection levels are reference prices, not signals. They help frame where a normal day would end.
- Defaults are set for CME index futures (09:30-16:00 New York). Change the session, time zone and session length inputs for other markets.
LIMITATIONS
- Built for intraday timeframes; on daily and higher charts there is no intraday session to measure.
- The average needs N completed sessions on the chart before it is meaningful; until then the table shows warming up.
- Holidays and shortened sessions count as normal sessions and can pull the average down.
- This is a descriptive volatility tool. It does not predict direction, and past ranges do not guarantee future ranges.
ORIGINALITY
Most session-range tools only draw the high and low. This script turns the range into a live, normalized gauge (percent of average and percentile against completed sessions only) and adds projection levels measured from the opposite extreme, which helps judge in real time whether a session is still normal.
WHAT IT DOES
- Tracks the regular-session (RTH) open, high and low for the current day.
- Averages the full RTH range of the last N completed sessions (default 20).
- Shows today's range as a percentage of that average, plus its percentile rank versus those sessions.
- Draws two average-range projection levels: session low + average range, and session high - average range. These are the prices where today's range would equal a typical day. Once price trades beyond one of them, the day has already exceeded a normal range.
- Tints the background when the range passes two expansion thresholds (default 100% and 150% of average) and provides alerts for both.
- Displays a compact gauge table: today's range, average range, % of average, percentile, and how much of the session has elapsed.
HOW IT WORKS
Each bar inside the session updates the running high and low. When the session ends, its full range is stored, and only completed sessions feed the average and percentile, so values on historical bars match what you would have seen live (no future data). Elapsed % uses clock time from the session open and the session length input.
HOW TO USE IT
- Early in the session, a range already near 100% of average with most of the day left suggests an expanding day; a range near 40% late in the day suggests a quiet, rotational session.
- The projection levels are reference prices, not signals. They help frame where a normal day would end.
- Defaults are set for CME index futures (09:30-16:00 New York). Change the session, time zone and session length inputs for other markets.
LIMITATIONS
- Built for intraday timeframes; on daily and higher charts there is no intraday session to measure.
- The average needs N completed sessions on the chart before it is meaningful; until then the table shows warming up.
- Holidays and shortened sessions count as normal sessions and can pull the average down.
- This is a descriptive volatility tool. It does not predict direction, and past ranges do not guarantee future ranges.
ORIGINALITY
Most session-range tools only draw the high and low. This script turns the range into a live, normalized gauge (percent of average and percentile against completed sessions only) and adds projection levels measured from the opposite extreme, which helps judge in real time whether a session is still normal.
Rules-based NQ futures strategies, tested honestly. Ribbon Duo access and pricing: jackvistrategies.com · chris@jackvistrategies.com · Education only, not financial advice.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
Rules-based NQ futures strategies, tested honestly. Ribbon Duo access and pricing: jackvistrategies.com · chris@jackvistrategies.com · Education only, not financial advice.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.