OPEN-SOURCE SCRIPT
Average Range (Last 3 Candles)
Updated
This script calculates the average price range of the last three candles, providing a clear and dynamic measure of recent volatility. Designed for breakout traders, it helps identify whether price fluctuations are within the expected range or signaling potential breakout failures. The calculated value is displayed directly on the chart for quick reference, making it ideal for momentum-based trading strategies.
Release Notes
This script calculates the average price range of the last three candles, providing a clear and dynamic measure of recent volatility. Designed for breakout traders, it helps identify whether price fluctuations are within the expected range or signaling potential breakout failures. The calculated value is displayed directly on the chart for quick reference, making it ideal for momentum-based trading strategies.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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