OPEN-SOURCE SCRIPT
Consolidation Score Screener
In trading, a consolidation range is like a timeout after a big move in the price of a stock or symbol.
It's when the market takes a breather, neither pushing the price up nor down too hard.
Visually, it looks like the price moving sideways on a chart, with highs and lows staying within a certain range.
so this indicator is created to help myself and you decide if its a ranging market and what's the score of that consolidation range
The score ranges between 0 and 10 , where 10 is the max consolidation score , meaning this stock or the symbol is at its highest peak of consolidation .
What would you see using this indicator ?
Symbols circles , inside these circles it will print the consolidation score ..
in the middle of the indicator it will show the range of all the 20 symbols scores .
so it will give you like overall ranging value for your 20 symbols
Settings :
Features :
Enjoy .
It's when the market takes a breather, neither pushing the price up nor down too hard.
Visually, it looks like the price moving sideways on a chart, with highs and lows staying within a certain range.
so this indicator is created to help myself and you decide if its a ranging market and what's the score of that consolidation range
The score ranges between 0 and 10 , where 10 is the max consolidation score , meaning this stock or the symbol is at its highest peak of consolidation .
What would you see using this indicator ?
Symbols circles , inside these circles it will print the consolidation score ..
in the middle of the indicator it will show the range of all the 20 symbols scores .
so it will give you like overall ranging value for your 20 symbols
Settings :
- TimeFrame : TimeFrame input to select which time frame you want your indicator to analysis
- Range length : The Range that you would want your indicator to take into consideration when doing its analysis .
Features :
- 20 symbols analysis
- Multi timeframe capability
Enjoy .
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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