Range Detector Indicator [CTZ]

# Range Detector Indicator [CTZ] - Description & Usage Guide

## What It Is

The Range Detector Indicator is an advanced technical analysis tool that identifies market trends and range-bound conditions using dynamic pivot-based bands. It combines deviation-based pivot detection with adaptive upper and lower bands to help traders identify optimal entry and exit points.

## Key Features

- **Dynamic Bands**: Upper and lower bands that adapt to market conditions based on pivot points
- **Trend Detection**: Automatically identifies bullish, bearish, and ranging market states
- **Real-Time Dashboard**: Displays current signals, band levels, and distances in an easy-to-read table
- **Buy/Sell Signals**: Generates alerts when price hits the lower band (BUY) or upper band (SELL)
- **Visual Labels**: Marks significant trend changes directly on the chart (L = Long, S = Short, R = Range)
- **Customizable Alerts**: Get notified of trend changes and band touches

## How to Use It

### Basic Setup

1. **Add to Chart**: Apply the indicator to your TradingView chart
2. **Configure Settings**:
- **Deviation (2.5 default)**: Higher values create wider bands; lower values make bands tighter
- **Depth (50 default)**: Number of bars analyzed for pivot detection; higher values smooth the bands
- **Bands % Offset (0.5% default)**: Additional percentage buffer for band placement

### Reading the Signals

**Dashboard Signals:**
- **BUY**: Price has hit the lower band - potential buying opportunity
- **SELL**: Price has hit the upper band - potential selling opportunity
- **NEUTRAL**: Price is between bands - wait for clearer signal

**Trend States:**
- **BULLISH (Green)**: Uptrend confirmed - look for dips to buy
- **BEARISH (Red)**: Downtrend confirmed - look for rallies to sell
- **RANGING (Orange)**: No clear trend - use mean reversion strategy

### Trading Strategy

1. **Buy Signal**: When price touches the lower band AND dashboard shows "BUY"
2. **Sell Signal**: When price touches the upper band AND dashboard shows "SELL"
3. **Stop Loss**: Place stops below the lower band (for buys) or above the upper band (for sells)
4. **Target**: Opposite band or use the mid-band as a partial profit target

### Dashboard Information

- **Signal**: Current market signal (BUY/SELL/NEUTRAL)
- **Current Price**: Real-time price
- **Upper Band**: Resistance level with distance percentage from current price
- **Lower Band**: Support level with distance percentage from current price
- **Trend**: Overall market direction (BULLISH/BEARISH/RANGING)

### Best Practices

- Works best on timeframes 15min and above
- Combine with other indicators for confirmation
- Use in trending markets for best results
- Adjust Deviation and Depth based on asset volatility
- Enable alerts to catch opportunities in real-time

### Alert Types Available

1. **Long Alert**: Bullish trend confirmed
2. **Short Alert**: Bearish trend confirmed
3. **Range Alert**: Market entering range-bound state
4. **Buy Signal**: Price hit lower band
5. **Sell Signal**: Price hit upper band

This indicator is ideal for swing traders, day traders, and anyone looking to identify high-probability entries based on dynamic support and resistance levels.