Micro Range Count/Models

4 giorni fa

Script Title
Micro Range & Fractal Models with MAs, ATR, and Wick Markers

Tags
micro-range, fractal-model, market-structure, moving-average, atr, wick-analysis, momentum, trend, volatility, customizable, trading-tool

Description
This comprehensive Pine Script indicator provides a multi-faceted view of market dynamics, combining Micro Range counting, a custom Fractal Range Model (FRM), multiple Moving Averages, Average True Range (ATR) display, and wick visualization. It's designed to help traders analyze price action, identify potential shifts in market control, and understand volatility at a glance.

Key Features:

Micro Range Count:
Visualizes distinct price "ranges" (candles or groups of candles) using colored boxes directly on the chart.
Counts consecutive bullish (green) or bearish (red) micro ranges.
Customizable colors and text size for range display.
Fractal Range Model (FRM):
A unique model that interprets the sequence of micro ranges to identify broader market phases:
acc1 (Accumulation Phase 1)
acc2 (Accumulation Phase 2)
reacc (Re-Accumulation)
dis1 (Distribution Phase 1)
dis2 (Distribution Phase 2)
redis (Re-Distribution)
neutral
The current FRM state is displayed in a customizable table on the chart, with colors changing based on the state (bullish phases in green, bearish in red).
Includes a FRM History Lookback input to control how many past ranges are considered for the model's calculation.
Configurable Moving Averages:
Plots five separate Moving Averages (MA1 to MA5) on the chart.
Choose between Simple Moving Average (SMA) or Exponential Moving Average (EMA).
Each MA has an independent, customizable lookback period.
Default periods are 9, 21, 50, 100, and 200, but all are adjustable.
Average True Range (ATR) Table:
Displays the current Average True Range value directly on the chart in a dedicated table.
ATR length is customizable.
Table position, background color, text color, and text size are fully adjustable.
Wick Visualization:
Highlights "High wicks" (price attempting to go higher but closing lower than previous high) and "Low wicks" (price attempting to go lower but closing higher than previous low) using colored lines.
Customizable line width and colors for both high and low wicks.
Symbol & Timeframe Display:
A discreet table in the top-right corner displays the current chart's symbol and timeframe, acting as a small watermark.
How to Use:

Add to Chart: Apply the indicator to your desired chart.
Access Settings: Open the indicator's settings (gear icon) to customize inputs.
Micro Range Settings:
Show Count: Toggle the display of the count number within each range box.
Bullish Color, Bearish Color, Text Color, Text Size: Adjust the appearance of the range boxes and their counts.
Moving Average Settings:
Moving Average Type: Select 'SMA' or 'EMA'.
Period 1 through Period 5: Set the lookback periods for each of the five moving averages.
ATR Table Settings:
ATR Length: Define the lookback period for ATR calculation.
Table Background Color, Table Text Color, ATR Table Position, ATR Table Text Size: Customize the ATR table's appearance and location.
FRM Table Settings:
FRM Table Position, FRM Table Text Size: Customize the FRM table's appearance and location.
FRM History Lookback (Ranges): Adjust how many past micro ranges the Fractal Range Model considers.
Wick Visualization Settings:
Show High wick, Show Low wick: Toggle visibility of wick lines.
High wick linewidth, Low wick linewidth: Adjust the thickness of wick lines.
High wick Color, Low wick Color: Set the colors for wick lines.
Originality & Usefulness:

This script uniquely integrates multiple analytical components into a single, highly customizable tool. The combination of Micro Range counting, the custom Fractal Range Model for market phase identification, and visual wick analysis provides a robust framework for understanding immediate price action and broader market context. This comprehensive approach aims to give traders a clearer edge in identifying accumulation/distribution phases and potential reversals or continuations. The customizable tables ensure critical information like ATR and FRM state are always visible without cluttering the main price chart.

Chart Preparation Advice
When publishing, ensure your chart is clean and clearly demonstrates the script's features.

Symbol & Timeframe: Use a common symbol (e.g., SPY, BTCUSD) and a standard timeframe (e.g., 1H, 4H, Daily).
No Other Indicators: Remove all other indicators from the chart, except for your script.
Clear Visuals: Ensure the box colors, line colors, and table positions chosen in the settings allow for clear visibility of all elements. You might want to adjust the chart's background or candlestick colors if they conflict with your script's palette.
Example Price Action: Select a chart period that clearly shows examples of bullish/bearish micro ranges, MA crossovers (if applicable), and changes in the FRM state.
Access Type Recommendation
I recommend publishing this script as Open (Open-Source).

Reasoning: The script provides unique logic (Micro Range counting, FRM) which could be valuable for the community to learn from and build upon. Making it open-source aligns with the collaborative spirit of Pine Script and allows others to verify and understand your methodology. If you intend for this to be a learning tool or a base for further development by others, open-source is the best choice.

3 giorni fa

Note di rilascio

***Update: Added the ability to toggle the Watermark on/off, and changed it's display to hours instead of minutes (when above 59 minutes)