OPEN-SOURCE SCRIPT

Market Range Theory 6.5 | UI-Enhanced

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Pine Script®
# 📊 Market Range Theory 6.5 | UI-Enhanced ### A clean & powerful breakout strategy based on weekly market structure --- ## 🧠 What is this indicator? The **Market Range Theory** draws the **Weekly Opening Range (WOR)** – the price high/low set at the start of each trading week. It helps you identify: - ✅ Breakouts above or below the weekly range - 🔁 Retests back into the range (conservative setups) - 🚫 Sideways zones to avoid trading You can optionally enable the **Monthly Opening Range (MOR)** for macro structure. --- ## ⚙️ How it works - Draws the **Weekly Range box** + **mid-line** - Detects **Breakouts** with **volume confirmation** + optional **ATR filter** - Supports 2 strategy modes: - 🔥 *Aggressive* → Entry at breakout - 🧲 *Conservative* → Entry at retest - Offers visual signals: - ✅ Labels (full/compact/last only) - 🔺 Triangles for breakouts - 🚀 Optional "Expansion" labels - Clean **corner dashboard** shows status, mode & alert state --- ## 🛠️ Customization options ### 🎛 Visual Settings: - **Label Mode**: Full, Compact, Shapes only, Last only - **Minimal Mode**: Hide all visuals for a clean chart - **Shape size**: Tiny, Small, Normal ### 📏 Range Settings: - Choose WOR logic: Monday-only or flexible - Show/hide mid-line - Optional: Enable Monthly Opening Range (MOR) ### 📈 Filters: - Volume filter (vs SMA) - ATR breakout buffer ### 📊 Strategy: - Aggressive vs Conservative entries - Entry buffer - Enable/disable alerts --- ## 📋 Example: > DAX forms WOR: 23,500–23,800 > 🔼 Breaks above 23,800 with volume → Long entry > 🔁 Pulls back to 23,800 → Retest entry (if in Conservative mode) --- ## ✅ Best for: - Day & swing traders - Options, CFDs, KO products - DAX, NASDAQ, EUR/USD, Gold, etc. --- ## 🇩🇪 Deutsche Beschreibung **Market Range Theory** zeigt dir automatisch die **Eröffnungsspanne (WOR)** jeder Handelswoche im Chart. - 📦 Zeigt Breakouts + Retests (mit Volumenfilter & ATR) - 🎯 Zwei Strategiemodi: aggressiv oder konservativ - ✨ Labels, Symbole & ein Live-Dashboard zur Orientierung - 🧼 Aufgeräumte Darstellung durch „Minimal Mode“ Nutze es für DAX, NASDAQ, Gold, Forex u. v. m. – ideal für alle, die auf Breakouts oder Reversals setzen. --- > 📢 Built by @MasterMP – feel free to fork, adapt & improve.

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