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 Scalper treats price as range-bound when the distance between those levels, divided by the close, is at or below the range threshold. While that condition holds, it plots both levels on the price chart and tints the background. Triangle markers and alerts fire when the close crosses above resistance or below support. Pivot length and the threshold change how wide a range qualifies. The range-bars input is unused, and there are no trade exits.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Pivot Length
int
DEFAULT_PIVOT_LENGTH
pivotLengthInput
Range Detection Bars
int
DEFAULT_RANGE_BARS
rangeBarsInput
Range Threshold %
float
DEFAULT_RANGE_THRESH
rangeThreshInput
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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