Documentaion

Settings Descriptions:

Parameters:

• Trading Range Set Method: User can choose to use either standard deviation trading ranges or pure price action trading ranges.
• Breakout Calculation Method: Choose which breakout method is prefered.
• Look Back: The initial number of bars that are needed to trigger a trading range
• Overlap: The required minimum overlap of the Look Back bars to trigger a trading range.
• Extend Lines Right n Number of Bars: Extends the display lines of the trading range right on screen.
• Extend Lines Left n Number of Bars: Extends the display lines of the trading range left on screen.
• Allow Levels to Reverse if Prompted To: Sometime the trading range gets a signal to move the boarder lines backward, this patameter allows you to choose to either ignore or use that signal.
• Display Breakout Lines: Displays the breakout lines of each trading range on chart,
• Display Past Trading Ranges: The option to display all past trading ranges, or only the most recent.
• Draw Lines N Standard Deviations Away From Mean: How many standard deviations does the user want to disaply the trading range lines at.
• Each Bar Must Be Within n Number of Standard Deviations: Each bar within the Look Back limit must fall within this standard deviation range to trigger a measured move.

ATR Breakout:

• ATR Breakout Calculation Method: Users choice of calculation method for atr breakout.
• Static: Uses the ATR value found at the beginning of the trading range.
• Dynamic: Uses the most current ATR value.
• Average: Uses the ATR value of all the bars within the trading range.
• ATR Period: Preset ATR period.
• ATR Multiplier: Multiplies the ATR Value in both positive and negative directions.

Percent Breakout:

• Percent Multiplier: The percent of the trading range to draw the breakout lines at. Example, 100% would put the upper bound breakout line the full width of the trading range above the upper bound trading range line.

Price Breakout:

• Price Away From Range (Ticks): How many ticks away from the outter lines to draw the breakout lines.

Standard Deviation Breakout:

• Standard Deviation Calculation Method: Choose which type of calculation method the standard deviation breakout method uses.
• Average: Uses only the bars within the trading range.
• Static: Uses the standard deviation calculated at the start of the trading range.
• Dynamic: Uses the most current calculation of the standard deviation.
• Period: The number of inputs to calculate the standard deviation off of, for dynamic and static methods.
•  Number of Standard Deviations Away From Lines: How many standard deviations away from the outer lines user wants to set the breakout lines.
Range Properties:
• Line Color Upper Level: The color of the upper bound trading range line.
• Line Style Upper Level: The style of the upper bound trading range line.
• Line Width Upper Level: The width of the upper bound trading range line.
• Line Color Lower Level: The color of the lower bound trading range line.
• Line Style Lower Level: The style of the lower bound trading range line.
• Line Width Lower Level: The width of the lower bound trading range line.
• Line Color Upper Breakout: The color of the upper bound breakout line.
• Line Style Upper Breakout: The style of the upper bound breakout line.
• Line Width Upper Breakout: The width of the upper bound breakout line.
• Line Color Lower Breakout: The color of the lower bound breakout line.
• Line Style Lower Breakout: The style of the lower bound breakout line.
• Line Width Lower Breakout: The width of the lower bound breakout line.

Auto Strategy Compatibility Data:
The Trading Range Indicator offers multiple series that can utilized to build custom automated strategies.
1. ActiveTR: Tells user whether the market is currently in a trading range or not.
• ActiveTR[0] = 1: There is currently a trading range.
• ActiveTR[0] = 0: There is not currently a trading range.

2. UpperLine: Provides the exact price of the upper bound line of the trading range.

3. LowerLine: Provides the exact price of the lower bound line of the trading range.

4. UpperBreakoutPrice: The exact price of the upper breakout threshold line.

5. LowerBreakoutPrice: The exact price of the lower breakout threshold line.

6. UpperBreakout: Tells the user if the market has broken passed the upper breakout line.

• UpperBreakout[0] = 1: Market has just broken out.
• UpperBreakout[0] = 0: Market has not broken out yet.

6. LowerBreakout: Tells the user if the market has broken passed the lower breakout line.

• LowerBreakout[0] = 1: Market has just broken out.
• LowerBreakout[0] = 0: Market has not broken out yet.