Session Range Control [PointAlgo]

Session Range Control (SRC)
The Session Range Control (SRC) indicator provides a structured view of intraday price behavior by tracking where the current price sits within the session’s high–low range and how today’s volatility compares to the Average Daily Range (ADR). It combines range analytics, momentum context, volatility interpretation, and visual cues to help traders understand session strength and shifts in intraday conditions.

Core Concept
Every trading session forms a unique high and low. SRC continuously reads these values and calculates the Position in Range, expressed on a scale from 0% to 100%:

• 0% → Price at Day Low
  
• 100% → Price at Day High
  
• 50% → Mid-range equilibrium
  

By normalizing price into a percentage, traders can quickly interpret where market pressure is concentrated during the session.

Trend Zones and Market State
SRC divides the range into logical zones to show the likely sentiment of the session:

1. Strong Uptrend Zone (Above Threshold)
When price consistently holds above the user-defined upper threshold (e.g., 60%), the indicator marks a Strong Uptrend.

This typically reflects:
Persistent intraday buying pressure
Price acceptance near the upper part of the range
Reduced likelihood of deep pullbacks

2. Strong Downtrend Zone (Below Threshold)
When price remains below the lower threshold (e.g., 40%), SRC signals a Strong Downtrend, indicating:
Dominant intraday selling
Consistent pressure keeping price near session lows

3. Bullish / Bearish Zones
Between the midline and strong thresholds, SRC displays softer trend zones:

• Above 50% = Bullish Zone
  
• Below 50% = Bearish Zone
  

These zones help classify whether price is trending, balanced, or drifting.

4. Neutral Territory
When price hovers around the mid-level without conviction, the indicator treats it as a neutral or undecided phase.

Signal Logic :
SRC includes built-in momentum shift signals based on range transitions:
Long Signal
Triggered when price crosses upward through 50%, often showing:

• A shift from intraday weakness to strength
  
• Buyers gaining control of the session
  

Short Signal
Triggered when price crosses downward through 50%, suggesting:

• Loss of intraday strength
  
• Sellers taking control
  

These signals help highlight potential turning points inside the session.

Extreme Levels :
SRC highlights the top and bottom 10% of the range:

• > 90% = Extreme High (Overbought intraday condition)
  
• < 10% = Extreme Low (Oversold intraday condition)
  

These conditions can be useful for identifying overextended movements or potential reaction zones.


ADR Comparison and Volatility Context :
The indicator also measures how today’s price range compares to the Average Daily Range (ADR):

• Range Expanding: Today’s range is significantly larger than the ADR
  
• Indicates heightened volatility
  
• Often associated with trending or breakout environments
  

Range Compressing: Today’s range is much smaller

• Suggests low volatility
  
• Common before breakout phases
  
• Characteristic of consolidation or balanced markets
  

This volatility context helps traders assess whether the session is behaving within normal boundaries or deviating significantly.

Dashboard Overview :
When enabled, the dashboard summarizes key intraday metrics in a structured table:

• Trend status (Strong Uptrend, Strong Downtrend, Bullish, Bearish, Neutral)
  
• Range position (%)
  
• Signal status (Long Cross, Short Cross, Extreme High/Low, or None)
  
• Day range calculation
  
• Range vs ADR (%)
  
• Day High / Day Low
  
• Current price level
  
• Simplified action label based on current conditions
  

This provides a quick reference system to interpret both trend and volatility at a glance without analyzing the full chart visually.

Visual Elements
SRC includes:

• Colored dynamic plot for easy trend recognition
  
• Horizontal reference lines at key levels (0%, 50%, 100%, strong-trend thresholds)
  
• Background shading during extreme zone conditions
  
• A separate ADR comparison plot
  

These visuals ensure the indicator remains intuitive regardless of chart style or timeframe.

Alerts
The script includes alert conditions for:

• Long cross
  
• Short cross
  
• Strong trend detection
  
• Extreme high / extreme low
  

These allow users to automate notifications during key market events without manually monitoring the chart.

Customization Options
Users can configure:

• ADR length
  
• Strong trend thresholds
  
• Dashboard visibility
  
• Dashboard position on chart
  

This makes SRC adaptable to different trading instruments and intraday styles.

Usage Notes

1. Works best on intraday timeframes where session boundaries are clearly defined.
   
2. Designed for analytical interpretation—trend bias, volatility phase, and range structure.
   
3. Can complement other tools such as moving averages, volume, or market structure analysis.
   

Disclaimer :
This indicator is intended for chart analysis and educational purposes only.
It does not generate financial, investment, or trading advice.
Users should validate signals with additional research and apply proper risk management.