Boxline (Dynamic Range Breakout)

Category: market_structure, volatility

A Price Action / Market Structure indicator that encapsulates candle ranges into boxes until a breakout (close outside the previous range) occurs, creating a step-like dynamic range channel.

Formula

\text{If } Close_i > Top_k \text{ or } Close_i < Bottom_k: \text{ New Box at } i. \\ \text{Top}_k = \max(High_{k \dots i}), \text{Bottom}_k = \min(Low_{k \dots i}) \\ \text{Middle} = (Top + Bottom) / 2

Inputs

• showBoxes (default: true)
• hcolor (default: clrLightBlue)
• lcolor (default: clrLightPink)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.