PINE LIBRARY
BASCOOL_Lib
BASCOOL Library v1
Range–Body Structure Analysis Toolkit for Intraday Trading
The BASCOOL Library provides high-quality, reusable Pine Script components for structural conviction analysis based purely on price action. It is designed for intraday traders who rely on volatility-adjusted range expansion and candle-body efficiency to identify strong, weak, or choppy market conditions.
Included Functions
rbm_from_ohlc() – Range–Body Measure (RBM)
A volatility-normalized structure indicator that evaluates:
Range Expansion:
Smooth EMA of (High–Low), normalized by ATR
→ captures strength of movement relative to volatility
Body Efficiency:
Body-to-Range ratio smoothed with EMA
→ measures how much of the candle’s range is “directional”
The RBM output is a smooth structural strength score typically between 0 and 1, where:
High RBM → strong structure, clean movement, trend-friendly conditions
Low RBM → compressed ranges, weak bodies, low-quality structure
Flat RBM → choppy environment, avoid directional trades
Range–Body Structure Analysis Toolkit for Intraday Trading
The BASCOOL Library provides high-quality, reusable Pine Script components for structural conviction analysis based purely on price action. It is designed for intraday traders who rely on volatility-adjusted range expansion and candle-body efficiency to identify strong, weak, or choppy market conditions.
Included Functions
rbm_from_ohlc() – Range–Body Measure (RBM)
A volatility-normalized structure indicator that evaluates:
Range Expansion:
Smooth EMA of (High–Low), normalized by ATR
→ captures strength of movement relative to volatility
Body Efficiency:
Body-to-Range ratio smoothed with EMA
→ measures how much of the candle’s range is “directional”
The RBM output is a smooth structural strength score typically between 0 and 1, where:
High RBM → strong structure, clean movement, trend-friendly conditions
Low RBM → compressed ranges, weak bodies, low-quality structure
Flat RBM → choppy environment, avoid directional trades
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Gokul Ramachandran – software architect, programmer. Interested in trading and investment. Currently trading and researching strategies that can be employed in NSE.
Contact: gokul4trading@gmail.com]
LinkedIn: linkedin.com/in/gokulramachandran/
Contact: gokul4trading@gmail.com]
LinkedIn: linkedin.com/in/gokulramachandran/
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.
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Gokul Ramachandran – software architect, programmer. Interested in trading and investment. Currently trading and researching strategies that can be employed in NSE.
Contact: gokul4trading@gmail.com]
LinkedIn: linkedin.com/in/gokulramachandran/
Contact: gokul4trading@gmail.com]
LinkedIn: linkedin.com/in/gokulramachandran/
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.