This indicator plots the Commodity Channel Index in a separate pane and surrounds it with a Donchian channel whose lookback length changes with volatility. It measures volatility as a ratio of short and long ATR values, then ranks that ratio and shortens or le
Indicator · Pine Script v6 · Own pane
Range Oscillator (Zeiierman)
Range Oscillator (Zeiierman) plots a range-based oscillator in a separate pane.
GitHub stars7on the repository
Pine versionv6current
Lines of code139
Settings9inputs
LicenceNone stated
Last update3 months ago24 Jul 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Range Oscillator (Zeiierman) qualifies a range box from a minimum number of bars and sizes that box vertically with an ATR width multiplier. A heatmap splits the recent high-low span into horizontal levels and colors them by how often price touches each level, using strong and weak bullish or bearish colors plus a transition color. Length, width, level count, and touch threshold change how established, wide, fine, and reactive the display is. The shown code defines no trade signals or exits.
- Minimum range length setting
- ATR range width multiplier
- Multi-level price heatmap
- Minimum touches per heat level
- Bullish, bearish and transition colors
Details
Published by
eddiebelaval on GitHub
Code credit
Zeiierman {, as written in the script's header
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volatility & bands, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Minimum Range Length | int | 50 | length |
| Range Width Multiplier | float | 2.0 | mult |
| Number of Heat Levels | int | 2 | levelsInp |
| Minimum Touches per Level | int | 1 | heatThresh |
| Strong Bullish Color | color | #09ff00 | strongbullish |
| Strong Bearish Color | color | color.rgb(255, 0, 0) | strongbearish |
| Weak Bearish Color | color | color.maroon | weakbearish |
| Weak Bullish Color | color | color.green | weakbullish |
| Transition Color | color | color.blue | transitionzone |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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