AMT Range Spotlight
Buy/sell signals based on bullish and bearish bar pattern sequences
Designed to identify potential buy and sell opportunities based on unique bar patterns in price action. Scans for sequences of bearish followed by bullish bars and vice versa, with clear visual indicators and optional 1-tick wick flexibility.
The Concept
Range Spotlight scans for specific sequences of bearish-followed-by-bullish bars (and vice versa) that indicate potential turning points. These bar patterns represent a shift from one-directional pressure to the other — a natural reversal setup. Optional wick flexibility allows the pattern to accommodate minor price noise.
How to Read It
Triangle markers appear at pattern completion points on the price chart.
- Bullish Signal (triangle up) below a bar marks a bearish-to-bullish pattern sequence
- Bearish Signal (triangle down) above a bar marks a bullish-to-bearish pattern sequence
- Signals at key support or resistance levels carry higher conviction
- The Allow 1 Tick Wick setting relaxes the pattern criteria slightly for more signals
Practical Tips
The Tick Offset controls how far the signal marker appears from the bar's high or low — adjust for visual clarity. Enable the 1 Tick Wick option on markets with frequent small wicks to avoid missing setups over minor noise. Pair with trend confirmation studies to filter signals in the direction of the prevailing trend.
Requirements
- Requires Sierra Chart version 2347 or later
Input & Settings
| No. | Input Name | Function |
|---|---|---|
| 1 | Tick Offset | This input determines the number of ticks to offset the buy/sell signal from the respective high or low of the bars. |
| 2 | Allow 1 Tick Wick | When enabled, this setting offers a slight flexibility in the bar pattern conditions, permitting a 1-tick wick. It adjusts the criteria for considering a bar as bullish or bearish. |
This input determines the number of ticks to offset the buy/sell signal from the respective high or low of the bars.
When enabled, this setting offers a slight flexibility in the bar pattern conditions, permitting a 1-tick wick. It adjusts the criteria for considering a bar as bullish or bearish.
Subgraphs
| No. | Subgraph Name | Function & Comments |
|---|---|---|
| 1 | Bullish Signal | Default: Triangle Up. Plotted below the bar when a bullish pattern is identified, using the user-defined tick offset. |
| 2 | Bearish Signal | Default: Triangle Down. Plotted above the bar when a bearish pattern is identified, using the user-defined tick offset. |
Default: Triangle Up. Plotted below the bar when a bullish pattern is identified, using the user-defined tick offset.
Default: Triangle Down. Plotted above the bar when a bearish pattern is identified, using the user-defined tick offset.
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