Flow of Range

The Flow of Range is calculated by averaging the range for the given bars for the short term oscillations, then averaging the average to determine long term runs.

Above 0 indicates bullish momentum, below 0 indicates bearish momentum.

Notice the behavior of the market when the range is increasing and decreasing - both on the long and short term oscillations.

The indicator should be used in a discretionary manner along with your usual preferred tools.
Open-source Skript

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.

Möchten Sie dieses Skript auf einem Chart verwenden?