Range Arrows

Range Arrows is a smart breakout and reversal indicator designed to detect shifts in market direction using dynamic support and resistance zones. It calculates recent highs and lows over a configurable lookback period and expands them using ATR-based volatility filtering to create adaptive trading ranges. When price breaks beyond these zones with sufficient strength, the indicator confirms a trend change and prints a buy or sell arrow directly on the chart. Optional smoothing reduces noise and improves signal quality in choppy conditions. Built-in alert features (sound, push, email) ensure you never miss a setup. The indicator is optimized to avoid repainting by confirming signals only after candle close, making it suitable for live trading and backtesting. Ideal for scalping, intraday, and trend-following strategies across all instruments.

How to Use
Apply the indicator to any chart and timeframe. Buy arrows appear when price breaks above resistance, indicating bullish momentum. Sell arrows appear when price breaks below support, signaling bearish pressure. For best results, trade in the direction of the higher timeframe trend and avoid low-volatility markets. Adjust LookbackPeriod and ATRMultiplier to control sensitivity—lower values give more signals, higher values give stronger confirmations. Enable smoothing for cleaner signals in ranging markets. Use alerts to monitor setups without watching the chart constantly. Combine with a trend filter (like MA or structure) for higher accuracy.