Trading Range Docs

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.

• • 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.