Range Zones
**Purpose:**
The Range Zones indicator is designed to highlight areas where two moving averages are within a specified threshold. This can help traders identify periods of low volatility or range-bound market conditions, potentially signaling consolidation zones or setups for breakout trades.
**How to Use:**
1. **Input Options:**
- **Moving Average Type:** Choose from SMA, EMA, WMA, VWMA, or SMMA.
- **Length MA1 and MA2:** Define the lengths of the two moving averages.
- **Separation Type:** Select how the price difference is measured (Ticks, Points, Pips, or Dollars).
- **Threshold Value:** Set the threshold value that determines the acceptable difference between the two moving averages.
2. **Visuals:**
- The indicator plots two moving averages on the chart.
- Gray shaded areas will appear on the chart when the two moving averages are within the specified threshold, indicating potential range zones.
3. **Alerts:**
- **Range Formed:** An alert triggers when the moving averages come within the threshold, signaling a potential range formation.
- **Range Broken:** An alert triggers when the moving averages move apart beyond the threshold, indicating a potential breakout from the range.
By using this indicator, traders can easily spot consolidation areas and anticipate potential breakouts, helping them make more informed trading decisions.
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact readysetfire directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact readysetfire directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.