1% Range Bars with Sequence Table

How it works

The script continuously monitors price movements, tracking each 1% change from the last significant value. When the price rises by 1% or more, it places a green circle above the bar, and when the price drops by 1% or more, it places a red circle below the bar.

Simultaneously, the script maintains separate counters for consecutive upward and downward movements. These counters track the number of sequential 1% moves in each direction, resetting when an opposite movement interrupts the current sequence.

Why it may be useful

This script provides traders with a visual and analytical tool to quickly identify significant price changes and potential trend formations. By marking each 1% movement with distinct symbols, it helps traders rapidly recognize market momentum and potential trend shifts.

The accompanying sequence table offers additional insights by showing the frequency of consecutive price movements, enabling traders to understand recurring patterns and market dynamics more effectively.

When to explore it

The script is most effective in volatile markets with clear directional movements, where 1% price changes are frequent and meaningful. It works particularly well for traders seeking to identify short-term trends and momentum shifts in various financial instruments.

Traders can utilize this tool across different timeframes, but it is especially useful for scalpers and day traders who rely on quick, precise market movement analysis and need to make rapid trading decisions based on short-term price action.

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