OPEN-SOURCE SCRIPT
Range Fuel Gauge
RANGE FUEL GAUGE — HOW MUCH OF TODAY'S RANGE IS LEFT, AS EXACT PRICES
Every instrument has a typical daily range. Once today's session has consumed most of it, breakout odds statistically fade and mean-reversion setups gain relevance. This indicator turns that idea into two things you can actually trade with: a live fuel gauge and two concrete price levels.
WHAT IT SHOWS
- Fuel panel — how much of the typical daily range today has already used (e.g. "79% used"), with a 10-segment bar that shifts green → amber → red, plus today's range, the typical range, and the points still left
- Upper room level — day low + typical range: the statistical ceiling for today if this session behaves like a typical recent session
- Lower room level — day high − typical range: the statistical floor on the same basis
- A side's room level automatically hides once that side of the range is fully consumed
HOW IT WORKS
1. The indicator stores the high-low range of the last N completed sessions (default 20)
2. Typical range = the Nth percentile of those ranges (default P80, adjustable 50-95)
3. Fuel used = today's developing range ÷ typical range
4. Room levels are simple arithmetic from today's day high / day low and the typical range — they tighten as the day's range expands
HOW TRADERS USE IT
- Fuel below 60% (green) — the day still has energy; breakout and continuation trades have statistical room
- Fuel 60-90% (amber) — range maturing; trail tighter, be selective with fresh breakouts
- Fuel above 90% (red) — the typical range is nearly spent; chasing moves is statistically poor, fade setups toward the day's value become relevant
- Room levels act as realistic intraday targets — for example, a long taken mid-session can use the upper room price as a statistically grounded objective
NOTES
- The room levels are statistical references built from this symbol's own recent history — they are not a forecast, and price can and does exceed them on trend days
- Historical ranges come only from completed sessions and never change after the fact; today's reading updates live as the session develops (by design)
- Alert included: fires when today's range crosses 100% of the typical range
- Panel position is selectable (8 positions); prices are shown as integers
- Works on any symbol; designed for intraday timeframes
This is an original implementation in Pine Script v6. The percentile logic and level arithmetic are fully described above.
Educational tool for market context — not financial advice.
Every instrument has a typical daily range. Once today's session has consumed most of it, breakout odds statistically fade and mean-reversion setups gain relevance. This indicator turns that idea into two things you can actually trade with: a live fuel gauge and two concrete price levels.
WHAT IT SHOWS
- Fuel panel — how much of the typical daily range today has already used (e.g. "79% used"), with a 10-segment bar that shifts green → amber → red, plus today's range, the typical range, and the points still left
- Upper room level — day low + typical range: the statistical ceiling for today if this session behaves like a typical recent session
- Lower room level — day high − typical range: the statistical floor on the same basis
- A side's room level automatically hides once that side of the range is fully consumed
HOW IT WORKS
1. The indicator stores the high-low range of the last N completed sessions (default 20)
2. Typical range = the Nth percentile of those ranges (default P80, adjustable 50-95)
3. Fuel used = today's developing range ÷ typical range
4. Room levels are simple arithmetic from today's day high / day low and the typical range — they tighten as the day's range expands
HOW TRADERS USE IT
- Fuel below 60% (green) — the day still has energy; breakout and continuation trades have statistical room
- Fuel 60-90% (amber) — range maturing; trail tighter, be selective with fresh breakouts
- Fuel above 90% (red) — the typical range is nearly spent; chasing moves is statistically poor, fade setups toward the day's value become relevant
- Room levels act as realistic intraday targets — for example, a long taken mid-session can use the upper room price as a statistically grounded objective
NOTES
- The room levels are statistical references built from this symbol's own recent history — they are not a forecast, and price can and does exceed them on trend days
- Historical ranges come only from completed sessions and never change after the fact; today's reading updates live as the session develops (by design)
- Alert included: fires when today's range crosses 100% of the typical range
- Panel position is selectable (8 positions); prices are shown as integers
- Works on any symbol; designed for intraday timeframes
This is an original implementation in Pine Script v6. The percentile logic and level arithmetic are fully described above.
Educational tool for market context — not financial advice.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.