This indicator was created for Far Beyond Trading members to assist in the drawing and creation of Ranges, Breakouts and Fakeouts. You can change the "Length" which will take into consideration how many candles it takes to create a range. The lower the amount the less candles required to create a valid range, and not just become a 'pause'. You can change the timeframe this indicator works on to show ONLY higher timeframes. This will break if you select lower timeframes. Change the colors as you wish, and enjoy!
- A range is just a hold or sideways price action in between a set high and low.
- A breakout is considered to be a push out of the hold. (arrows)
- A range is just a hold or sideways price action in between a set high and low.
- A breakout is considered to be a push out of the hold. (arrows)