Smart Range Detector

5 may

Smart Range Detector

What It Does
This indicator automatically detects and validates significant trading ranges using pivot point analysis combined with logarithmic fibonacci relationships. It operates by identifying specific pivot patterns (High-Low-High and Low-High-Low) that meet fibonacci validation criteria to filter out noise and highlight only the most reliable trading ranges. Each range is continuously monitored for potential mitigation (breakout) events.

Key Features

• Identifies both High-Low-High and Low-High-Low range patterns
  
• Validates each range using logarithmic fibonacci relationships (more accurate than linear fibs)
  
• Detects range mitigations (breakouts) and visually differentiates them
  
• Shows fibonacci levels within ranges (25%, 50%, 75%) for potential reversal points
  
• Visualizes extension levels beyond ranges for breakout targets
  
• Analyzes volume profile with customizable price divisions (default: 60)
  
• Displays Point of Control (POC) and Value Area for traded volume analysis
  
• Implements performance optimization with configurable range limits
  
• Includes user-adjustable safety checks to prevent Pine Script limitations
  
• Offers fully customizable colors, line widths, and transparency settings
  

How To Use It

1. Identify Valid Ranges: The indicator automatically detects and highlights trading ranges that meet fibonacci validation criteria
   
2. Monitor Fibonacci Levels: Watch for price reactions at internal fib levels (25%, 50%, 75%) for potential reversal opportunities
   
3. Track Extension Targets: Use the extension lines as potential targets when price breaks out of a range
   
4. Analyze Volume Structure: Enable the volume profile mode to see where most volume was traded within mitigated ranges
   
5. Trade Range Boundaries: Look for reactions at range highs/lows combined with volume POC for higher probability entries
   
6. Manage Performance: Adjust the maximum displayed ranges and history bars settings for optimal chart performance
   

Settings Guide

• Left/Right Bars Look Back: Controls how far back the indicator looks to identify pivot points (higher values find more ranges but may reduce sensitivity)
  
• Max History Bars: Limits how far back in history the indicator will analyze (stays within Pine Script's 10,000 bar limitation)
  
• Max Ranges to Display: Restricts the total number of ranges kept in memory for improved performance (1-50)
  
• Volume Profile: When enabled, shows volume distribution analysis for mitigated ranges
  
• Volume Profile Divisions: Controls the granularity of the volume analysis (higher values show more detail)
  
• Display Options: Toggle visibility of range lines, fibonacci levels, extension lines, and volume analysis elements
  
• Transparency & Color Settings: Fully customize the visual appearance of all indicator elements
  
• Line Width Settings: Adjust the thickness of lines for better visibility on different timeframes
  

Technical Details

• The indicator uses logarithmic fibonacci calculations for more accurate price relationships
  
• Volume profile analysis creates 60 price divisions by default (adjustable) for detailed volume distribution
  
• All timestamps are properly converted to work with Pine Script's bar limitations
  
• Safety checks prevent "array index out of bounds" errors that plague many complex indicators
  
• Time-based coordinates are used instead of bar indices to prevent "bar index too far" errors
  

This indicator works well on all timeframes and instruments, but performs best on 5-minute to daily charts. Perfect for swing traders, range traders, and breakout strategists.

What Makes It Different
Most range indicators simply draw boxes based on recent highs and lows. Smart Range Detector validates each potential range using proven fibonacci relationships to filter out noise. It then adds sophisticated volume analysis to help traders identify the most significant price levels within each range. The performance optimization features ensure smooth operation even on lower timeframes and extended history analysis.

5 may

Notas de prensa

- Upgraded to V6
- Fixed Problem with VP Mode
- Added Vwap Mode

7 may

Notas de prensa

- Optimized Range Detection wont miss any range, wont over detect either

8 may

Notas de prensa

- Added an update to help trading range as they breakout

8 may

Notas de prensa

- Adaptive Mitigation
- Better Range tracking with VWAP/VP Modes

8 may

Notas de prensa

- Fixed Issue where Ranges where covered with Multiple Boxes
- Faster

8 may

Notas de prensa

- Better Mitigation Methods
- Custom Displays vs Mitigation Levels

11 may

Notas de prensa

- Ability To Delete Unmitigated ranges after a Period

1 jun

Notas de prensa

- Added Signals for Range Retest

1 jun

Notas de prensa

- Alert Frequency to Bar Close

13 jun

Notas de prensa

- Mitigated Range Extension Added

13 jun

Notas de prensa

- Cleaning to Avoid Double Boxing

13 jun

Notas de prensa

- Allow Retest for All Ranges that are Mitigated

14 jun

Notas de prensa

- Major Speed Upgrade

15 jun

Notas de prensa

- Hotfix (Issue where it don't work when new bars get created)

16 jun

Notas de prensa

- A lot of Clean-up
- A lot of Big O clean-ups and speed and performance improvement

17 jun

Notas de prensa

- Sweep Cleaning

18 jun

Notas de prensa

- Volume Filtering

20 jun

Notas de prensa

- Added Open / Wick Sweep

21 jun

Notas de prensa

- Mean Reversal Added

27 jun

Notas de prensa

- Alot of Extras for Mean Reversion Traders
- Added TPO Range Calculation
- Added POC Tests

28 jun

Notas de prensa

- Refactored Code for Speed
- Optimized Zig Zag Logic

29 jun

Notas de prensa

- Small Volume Condition Fine Tuning

7 jul

Notas de prensa

- Updated Modes