This script aims to help identify sideways markets. Once price leaves the Box the market will usually start a trending phase. Users can set a percent range to detect markets moving sideways within the range.
Release Notes
Added alerts to respond to a user request. The script handles 4 alert conditions via use of the Any Alert() function you can choose in the menu to have alerts when price breaks out of box, when a new box is created or when a box is at the end and is finished updating. Select the options you want to be alerted for in the settings menu and then set a tradingview alert for the script choose the Consolidation Box and Any Alert() function call as the condition of the alert. I also exposed the top and bottom of the box as a char variable so you can set custom alerts for these values as well.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
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.