Range Trigger Block - This block is a "conditional block" that is triggered when the price position of an asset is on key areas: above or below the lowest, median or highest point over a defined time period.
Block configuration
In the block parameters you can select the time unit and the number of candles you want to study, as well as the price zone you want to compare the current price to. This block is particularly useful for adding price action to your strategies, identifying breakouts etc.
Time unit: Here you choose the time unit that will be used to analyze the candlesticks and to identify the price zones (highest high, lowest low, median price).
Length : you choose here the number of candles you want to integrate in the price analysis window on which the price zones will be identified (highest high, lowest low, median price).
Price position : this is where you indicate the position at which you want the price to trigger the block. This position can be "above" or "below" the studied zone defined below.
Related: This is where you indicate the area to which you are comparing the price. This area can be "highest high", "lowest low" or the "median price" of the area.
The "price source" option allows you to determine the moment at which the block performs the comparison and therefore the moment at which it is likely to be triggered. This parameter can be set in "Candle closing" mode or in "Real time" mode:
- With the "Candle closing" mode, the block will wait for the candle to close on the defined time unit before evaluating the price position against the thresholds.
- With the "Real Time" mode the block will evaluate the price position against the thresholds at each trade.
The "minimum gap threshold" allows you to set a tolerance threshold within which the block will not be triggered.
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Happy Trading,
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