Advanced Range Filter-Aynet

vor 8 Stunden

Key Features
Range Sizing Methods:

Supports various calculation methods, including:
Points: Fixed numerical value.
Pips: Ideal for Forex pairs.
% of Price: Scales range dynamically based on price.
ATR: Volatility-based sizing using Average True Range.
Average Change: Original sizing method using average price change.
Standard Deviation: Measures price volatility.
Absolute: User-defined fixed range.
Filter Types:

Type 1: Original filtering logic.
Type 2: Alternative smoothing logic for more responsive outputs.
Smoothing:

Optional EMA smoothing applied to the filter values.
Dynamic Visuals:

Plots filtered price with upper/lower bands.
Colors bars based on trend direction (bullish, bearish, neutral).
Advanced Averaging:

Conditional EMA logic enables averaging only when the filter value changes.
Trend Output:

Exports trend information (1 for bullish, -1 for bearish) for use in other scripts.
Usage
Trend Identification:

Observe the filtered price line to identify trends while ignoring minor price noise.
Use the bar coloring scheme to visualize trends directly on the chart.
Dynamic Bands:

The upper and lower bands represent the price range that triggers filter movements.
Custom Alerts:

Set up alerts for trend changes by monitoring the trend variable.
Use in Other Scripts:

Import trend information (externalTrend) into custom strategies or other indicators.
Conclusion
This advanced Range Filter Indicator removes minor price action noise and highlights trends with precision. It’s highly customizable, offering flexibility in how ranges and filter values are calculated, with dynamic visualization to make trends clear and actionable. Perfect for traders who prefer clarity and noise reduction in price action analysis.