Ranged Candle Length - evo

Similar to one of my previous scripts 'Ranged Volume', but instead of using volume, this script uses candle length mirrored. It creates a range using highest and lowest of a given period. When the range gets larger, it means the current candle is bigger than the largest candle of your given period (break-out).

Yellow = Bullish break out
Red = Bearish break out

A good way to use this is to follow the direction of the last break-out candle or open a position with a stop just below or above the candle (that's how I tested it real time).

Good luck!
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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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