OPEN-SOURCE SCRIPT
Market Range Theory 6.5 | UI-Enhanced

# ๐ Market Range Theory 6.5 | UI-Enhanced
### A clean & powerful breakout strategy based on weekly market structure
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## ๐ง What is this indicator?
The **Market Range Theory** draws the **Weekly Opening Range (WOR)** โ the price high/low set at the start of each trading week. It helps you identify:
- โ
Breakouts above or below the weekly range
- ๐ Retests back into the range (conservative setups)
- ๐ซ Sideways zones to avoid trading
You can optionally enable the **Monthly Opening Range (MOR)** for macro structure.
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## โ๏ธ How it works
- Draws the **Weekly Range box** + **mid-line**
- Detects **Breakouts** with **volume confirmation** + optional **ATR filter**
- Supports 2 strategy modes:
- ๐ฅ *Aggressive* โ Entry at breakout
- ๐งฒ *Conservative* โ Entry at retest
- Offers visual signals:
- โ
Labels (full/compact/last only)
- ๐บ Triangles for breakouts
- ๐ Optional "Expansion" labels
- Clean **corner dashboard** shows status, mode & alert state
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## ๐ ๏ธ Customization options
### ๐ Visual Settings:
- **Label Mode**: Full, Compact, Shapes only, Last only
- **Minimal Mode**: Hide all visuals for a clean chart
- **Shape size**: Tiny, Small, Normal
### ๐ Range Settings:
- Choose WOR logic: Monday-only or flexible
- Show/hide mid-line
- Optional: Enable Monthly Opening Range (MOR)
### ๐ Filters:
- Volume filter (vs SMA)
- ATR breakout buffer
### ๐ Strategy:
- Aggressive vs Conservative entries
- Entry buffer
- Enable/disable alerts
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## ๐ Example:
> DAX forms WOR: 23,500โ23,800
> ๐ผ Breaks above 23,800 with volume โ Long entry
> ๐ Pulls back to 23,800 โ Retest entry (if in Conservative mode)
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## โ
Best for:
- Day & swing traders
- Options, CFDs, KO products
- DAX, NASDAQ, EUR/USD, Gold, etc.
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## ๐ฉ๐ช Deutsche Beschreibung
**Market Range Theory** zeigt dir automatisch die **Erรถffnungsspanne (WOR)** jeder Handelswoche im Chart.
- ๐ฆ Zeigt Breakouts + Retests (mit Volumenfilter & ATR)
- ๐ฏ Zwei Strategiemodi: aggressiv oder konservativ
- โจ Labels, Symbole & ein Live-Dashboard zur Orientierung
- ๐งผ Aufgerรคumte Darstellung durch โMinimal Modeโ
Nutze es fรผr DAX, NASDAQ, Gold, Forex u.โฏv.โฏm. โ ideal fรผr alle, die auf Breakouts oder Reversals setzen.
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> ๐ข Built by @MasterMP โ feel free to fork, adapt & improve.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.