OPEN-SOURCE SCRIPT
Updated Trading Ranges
I made this script to easily see how a instrument is trading compared to the previous larger timeframes trading ranges. I added 3 candles representing the larger timeframe eg: Daily on a 5 minute chart. The fill area is the range of the previous larger timeframe and there is a parameter to show the open and close lines, you can also set the gradient colors and transparency levels of the lines. I also added some basic alerts for breakout above and below the range. The code could be condensed into functions but I did it like this to get around some pinescript issues.
Release Notes
small code tidy upOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.