Updated
RangePulse: Volatility-Normalized Breakout Strength
WHAT IT MEASURES
RangePulse answers one question on every bar: has price moved one way further than normal market noise can explain?
It compares today’s high with the low of the bar n bars ago (up-move), and today’s low with the high of the bar n bars ago (down-move). Both are divided by ATR and by the square root of time (n^0.45), so a reading means the same thing on any market and any timeframe.
The method comes from Dennis Meyers, It’s a generalisation of the classic Random Walk Index.
THE LINES
Green line = up-expansion strength. Bullish needs it above the dashed 1.75 level.
Red line = down-expansion strength. Bearish needs it above the dashed 1.60 level.
Green shading = bullish state: strong up-expansion while the down side stays quiet.
Red shading = bearish state: strong down-expansion while the up side stays quiet.
No shading = neutral. This is the normal reading most of the time.
Triangles mark the first bar of a new state, confirmed at bar close (no repainting).
Flat tops are by design: each line holds its strongest reading of the last 15 bars, then drops.
Negative values: the green line goes below zero when today’s high is below the low of 15 bars ago, which means a strong decline.
READING THIS CHART, STEP BY STEP
End of January to February: bearish.
A red triangle printed near ~89.5k. The red line jumped above 2.0 while the green line collapsed to about −1.0. Price fell to ~60k in days. This is the textbook bearish expansion: one-sided, fast, far beyond normal noise.
March to May: recovery, but no signal.
Price climbed from ~63k back to ~82k, yet the green line never reached 1.75. The recovery was a steady climb, not an explosive expansion. RangePulse is selective: it ignores gradual trends and flags only strong bursts.
June: bearish again.
A red triangle printed near ~68.5k. The red line went above 2.0 while green fell near zero, and price dropped to ~58k.
Late August to mid-September: bullish.
After weeks of sideways trading around 63–66k, one strong move pushed the green line to ~2.3 with the red line low. A green triangle printed near ~72k, and price continued to ~80k.
Late September to October: higher high in price, lower high in the indicator.
Bitcoin made a new high near ~87k, but the green line only reached ~1.4, below the 1.75 trigger, so no bullish state.
What this means: the August move was an explosive expansion, while the push to 87k was a slower grind relative to its volatility. The indicator shows that up-expansion was fading.
What it does NOT mean: it is not an automatic sell signal. Price can keep grinding higher without expansion. Treat it as information about the quality of the move, not a reversal call.
Now: neutral.
Green 0.23 (needs 1.75), red 0.89 (needs 1.60). The drop from ~87k to ~80k is an orderly pullback, not a bearish expansion. A bearish state would need a sharp, fast drop that lifts the red line above 1.60 while green stays low. A slow decline will not trigger it.
HOW TO USE IT
As a filter: take long setups from your own system only during a bullish state (or at least not during a bearish one), and the reverse for shorts.
As confirmation: a breakout of a level is stronger when RangePulse confirms an expansion state.
As a quality check: compare the green or red peaks on successive legs to see whether moves are getting stronger or weaker.
Alerts: bullish start, bearish start, or any start, all on closed bars.
LIMITATIONS
It confirms moves after they start. It lags by design and does not predict tops or bottoms.
Signals are rare: on BTC daily, about 3–4 per year; on 4H, roughly one every two weeks.
It won’t flag slow trends
SETTINGS
Default preset “Tuned”: n = 15, a = 0.45, TH = 1.75, TL = 1.60
“Meyers’ original QQQ intraday values.
With a = 0.5 and the rolling max switched off, the lines equal the classic Random Walk Index.
Credits: Dennis Meyers
RangePulse answers one question on every bar: has price moved one way further than normal market noise can explain?
It compares today’s high with the low of the bar n bars ago (up-move), and today’s low with the high of the bar n bars ago (down-move). Both are divided by ATR and by the square root of time (n^0.45), so a reading means the same thing on any market and any timeframe.
The method comes from Dennis Meyers, It’s a generalisation of the classic Random Walk Index.
THE LINES
Green line = up-expansion strength. Bullish needs it above the dashed 1.75 level.
Red line = down-expansion strength. Bearish needs it above the dashed 1.60 level.
Green shading = bullish state: strong up-expansion while the down side stays quiet.
Red shading = bearish state: strong down-expansion while the up side stays quiet.
No shading = neutral. This is the normal reading most of the time.
Triangles mark the first bar of a new state, confirmed at bar close (no repainting).
Flat tops are by design: each line holds its strongest reading of the last 15 bars, then drops.
Negative values: the green line goes below zero when today’s high is below the low of 15 bars ago, which means a strong decline.
READING THIS CHART, STEP BY STEP
End of January to February: bearish.
A red triangle printed near ~89.5k. The red line jumped above 2.0 while the green line collapsed to about −1.0. Price fell to ~60k in days. This is the textbook bearish expansion: one-sided, fast, far beyond normal noise.
March to May: recovery, but no signal.
Price climbed from ~63k back to ~82k, yet the green line never reached 1.75. The recovery was a steady climb, not an explosive expansion. RangePulse is selective: it ignores gradual trends and flags only strong bursts.
June: bearish again.
A red triangle printed near ~68.5k. The red line went above 2.0 while green fell near zero, and price dropped to ~58k.
Late August to mid-September: bullish.
After weeks of sideways trading around 63–66k, one strong move pushed the green line to ~2.3 with the red line low. A green triangle printed near ~72k, and price continued to ~80k.
Late September to October: higher high in price, lower high in the indicator.
Bitcoin made a new high near ~87k, but the green line only reached ~1.4, below the 1.75 trigger, so no bullish state.
What this means: the August move was an explosive expansion, while the push to 87k was a slower grind relative to its volatility. The indicator shows that up-expansion was fading.
What it does NOT mean: it is not an automatic sell signal. Price can keep grinding higher without expansion. Treat it as information about the quality of the move, not a reversal call.
Now: neutral.
Green 0.23 (needs 1.75), red 0.89 (needs 1.60). The drop from ~87k to ~80k is an orderly pullback, not a bearish expansion. A bearish state would need a sharp, fast drop that lifts the red line above 1.60 while green stays low. A slow decline will not trigger it.
HOW TO USE IT
As a filter: take long setups from your own system only during a bullish state (or at least not during a bearish one), and the reverse for shorts.
As confirmation: a breakout of a level is stronger when RangePulse confirms an expansion state.
As a quality check: compare the green or red peaks on successive legs to see whether moves are getting stronger or weaker.
Alerts: bullish start, bearish start, or any start, all on closed bars.
LIMITATIONS
It confirms moves after they start. It lags by design and does not predict tops or bottoms.
Signals are rare: on BTC daily, about 3–4 per year; on 4H, roughly one every two weeks.
It won’t flag slow trends
SETTINGS
Default preset “Tuned”: n = 15, a = 0.45, TH = 1.75, TL = 1.60
“Meyers’ original QQQ intraday values.
With a = 0.5 and the rolling max switched off, the lines equal the classic Random Walk Index.
Credits: Dennis Meyers
Release Notes
Code Final adjust
Mostly just sharing how I see the markets
theonepct.substack.com
Telegram: bit.ly/TheOnePcT
theonepct.substack.com
Telegram: bit.ly/TheOnePcT
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.
Mostly just sharing how I see the markets
theonepct.substack.com
Telegram: bit.ly/TheOnePcT
theonepct.substack.com
Telegram: bit.ly/TheOnePcT
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.