Trabalho concluído
Termos de Referência
The idea is to create a range when a doji, pinbar or candle forms with more than 50% shadow in relation to its body. This range will be formed through the maximum and minimum of the "candle generator", there will be a horizontal line.Examples:
Regarding expansion:
The range will be expanded every time there is a false breakout (shadows above/below the range). Then the new high/low of the initial range will be expanded for these false breakouts. Examples:
Another way to expand is if a candle closes above/below the range but that candle has less than 30% of its body outside the range. (in this case the body of the candle must be calculated as - Bullish Candle = minimum at closing / Bearish Candle = maximum at closing, that is, we do not consider the shadow opposing the movement)
About breaking the range:
The range will be broken when there is a candle closing above/below its lines with 30% or more of its body (body calculation is the same as described above). Once broken with this candle, the range disappears and the next one will only appear if there is a new configuration for it, that is, there will always be a single range on the chart.
It is essential that when breaking the range with a candle closing above/below with 30% or more of its body the range disappears "validating the break".