Consolidation Box
This script aims to help identify sideways markets. Once price leaves the Box the market will usually start a trending phase. Users can set a percent range to detect markets moving sideways within the range.
Versionsinformation:
Added alerts to respond to a user request.
The script handles 4 alert conditions via use of the Any Alert() function you can choose in the menu to have alerts when price breaks out of box, when a new box is created or when a box is at the end and is finished updating.
Select the options you want to be alerted for in the settings menu and then set a tradingview alert for the script choose the Consolidation Box and Any Alert() function call as the condition of the alert.
I also exposed the top and bottom of the box as a char variable so you can set custom alerts for these values as well.
The script handles 4 alert conditions via use of the Any Alert() function you can choose in the menu to have alerts when price breaks out of box, when a new box is created or when a box is at the end and is finished updating.
Select the options you want to be alerted for in the settings menu and then set a tradingview alert for the script choose the Consolidation Box and Any Alert() function call as the condition of the alert.
I also exposed the top and bottom of the box as a char variable so you can set custom alerts for these values as well.