OPEN-SOURCE SCRIPT
Previous Candle Range Split into Thirds
This script plots two horizontal lines over the previous candle to divide its total range (high to low) into three equal parts. The first line marks 33% of the range from the low, and the second marks 66%. This helps users visually identify whether the previous candle closed in the lower, middle, or upper third of its range, providing context on potential buyer or seller dominance during that session.
Users can customize the color, width, and style (solid, dotted, dashed) of each line, as well as toggle their visibility from the script's input settings.
This indicator is designed as a discretionary analysis tool and does not generate buy or sell signals.
Users can customize the color, width, and style (solid, dotted, dashed) of each line, as well as toggle their visibility from the script's input settings.
This indicator is designed as a discretionary analysis tool and does not generate buy or sell signals.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.