Candle Range Theory (CRT) indicator

📌 Indicator Name: Candle Range Theory (CRT) indicator
This indicator detects potential bullish and bearish reversal setups based on specific candlestick price action behavior. It is designed to highlight moments when the market may be rejecting extremes and preparing to reverse direction — but only after confirmation with the closing price.

🔍 How It Works:
Bullish Setup (Long Signal):

The previous candle is bearish (closes lower than it opens).

The current candle makes a lower low than the previous one.

The current candle closes above the previous candle’s close.

Bearish Setup (Short Signal):

The previous candle is bullish (closes higher than it opens).

The current candle makes a higher high than the previous one.

The current candle closes below the previous candle’s close.

Signals are only triggered after the bar is fully closed, to avoid premature entries.

🔔 The script includes alert conditions for both long and short setups so you can receive notifications instantly.

🎥 Inspiration:
The idea for this indicator came from the excellent educational content presented in this video:
"How to Read Candlesticks Like a Pro"
We highly recommend watching it to better understand the price action principles behind this signal.