Trading Range Tracker Advanced: Master Range-Bound Trading with Automated Detection

Markets spend significant time in consolidation phases, moving sideways between support and resistance before making decisive directional moves. The Trading Range Tracker Advanced indicator helps traders identify these consolidation zones, track range boundaries dynamically, and generate high-probability breakout signals.

What is Trading Range Tracker Advanced?

Trading Range Tracker Advanced is a sophisticated TradingView indicator combining regime detection, trend confirmation, and breakout filtering into a unified trading system. Unlike simple range indicators that only draw horizontal lines, this tool actively classifies market conditions and generates filtered signals based on the current regime.

The indicator addresses a fundamental challenge: distinguishing between genuine breakouts that lead to sustained moves and false breakouts that quickly reverse. By requiring multiple confirmation factors including EMA alignment, swing structure, and optional impulsive candle validation, the indicator filters out low-quality signals.

Understanding Range Detection and Market Regimes

The foundation lies in the regime detection algorithm, classifying market conditions into three states: Range (consolidation), Trending Up, and Trending Down.

How Regime Detection Works

The indicator uses deviation-based pivots from the Fontilab library to identify significant swing points. These pivots determine whether price is oscillating within a defined zone (ranging) or making directional progress (trending).

When range conditions are detected:

• Yellow bands show upper and lower boundaries
• "R" label marks transition into range mode
• Detector Decision filter restricts signals to range-appropriate setups

When trending conditions emerge:

• Blue bands indicate directional bias
• "L" labels mark bullish trend shifts
• "S" labels mark bearish trend shifts

The Detector Decision Filter

The Detector Decision setting filters signals based on market regime:

• Range: Only generates signals during consolidation phases
• Trending: Only generates signals during directional phases
• Off: No filtering, original behavior for all conditions

Entry and Exit Logic

The indicator generates entry signals based on multi-factor confirmation combining swing structure analysis with EMA trend validation.

Long Entry Conditions

1. Price closes above last swing high (breakout)
2. EMA confirms uptrend (short EMA above long EMA)
3. Entry within specified window after breakout
4. Market regime matches Detector Decision
5. Impulsive candle present (if Sniper Mode enabled)

Short Entry Conditions

1. Price closes below last swing low (breakdown)
2. EMA confirms downtrend
3. Entry within specified window
4. Market regime matches Detector Decision
5. Impulsive candle present (if Sniper Mode enabled)

The Sniper Mode Filter

Sniper Mode requires impulsive candles meeting three criteria:

• Size: Range exceeds ATR × size multiplier
• Volume: Volume exceeds average × volume multiplier
• Body Ratio: Body represents at least 70% of total range

Exit Conditions

• Stop Loss Hit
• Take Profit Hit
• EMA Exit (trend reversal)
• Opposite Entry signal

Risk Management Integration

Stop Loss Calculation

Stop losses are placed at recent swing levels with offset percentage:

• Long trades: SL below last negative bar low
• Short trades: SL above last positive bar high

Take Profit Calculation

TP Distance = SL Distance × Risk Reward Ratio

Trade Style Options

• Conservative: Single trade active, pauses new entries
• Aggressive: Multiple trades simultaneously

Practical Trading Applications

Day Trading Range-Bound Markets

1. Set Detector Decision to "Range"
2. Use shorter EMA lengths (8/13)
3. Enable Sniper Mode
4. Set RR ratio to 1.5-2.0

Swing Trading Breakouts

1. Set Detector Decision to "Trending"
2. Use standard EMA lengths (12/21)
3. Disable Sniper Mode for earlier entries
4. Set RR ratio to 2.5-3.0

Key Takeaways

• Automatically classifies market regimes as ranging or trending
• Detector Decision filter matches signals to appropriate conditions
• Sniper Mode requires impulsive candles for high-conviction entries
• Built-in risk management with dynamic SL/TP calculation
• EMA confirmation ensures trades align with prevailing trend
• Visual regime indicators provide immediate market context
• Supports Conservative and Aggressive position management

FAQ

What markets does this indicator work on?
All markets including stocks, forex, crypto, and futures. Adjust volume check for unreliable volume data.

How do I avoid false breakouts?
Enable Sniper Mode, use Detector Decision filter, and ensure EMA alignment confirms breakout direction.

What timeframe should I use?
Any timeframe. Day traders use 5-15 minute charts, swing traders prefer 1-4 hour or daily.

Can I combine with other indicators?
Yes, complements volume analysis and momentum oscillators. Avoid redundant indicators.