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ZenAlgo - Ranger

A precise VWAP-based range tool with deep historical context, designed for actionable trading decisions.

What is ZenAlgo - Ranger?​

ZenAlgo - Ranger is a professional TradingView indicator that visualizes daily volume-weighted price ranges, letting traders immediately see mean-reversion zones, historical balance, and weekly reference levels — all computed from minute-level data.

  • Anchored to the 1-minute VWAP for precision 🎯
  • Dynamic ±2 standard deviation range defines core trading zones
  • Historical context: up to 70 prior days' VWAP+range shown as boxes
  • Flexible grid: See extra deviation levels (±0.5, ±1.5, ..., ±5.0) as needed
  • Special weekly context: Monday's range drawn across the week (Tuesdays on)
  • Optional buy/sell delta: Visualize volume imbalance over the day

Visual Elements & How to Read Them​

Today's VWAP Range​

  • Box Color: Teal (default) for today's range
  • Height: VWAP ±2 standard deviations — this is your high-probability zone for reversals or consolidations
  • Box Transparency: Adjustable (default very subtle)
  • Vertical Range Lines: Solid lines at today's box borders (start and end of day)
  • Dashed Lines: Additional standard deviation bands (if enabled), showing ±0.5, ±1.5, etc.
Tip: Why ±2?

Most price action stays within ±2σ of VWAP — use this box to spot mean-reversion trades or avoid chasing moves that are already extended!

Previous Daily Ranges​

  • Box Color: Gray (default)
  • Each Box: Shows a full prior day's VWAP ±2σ range
  • Up to 70 boxes (configurable) so you can spot multi-day support/resistance
  • Dotted Lines: Extra deviation bands from previous days (if enabled)
  • Always drawn from 00:00 to 23:59 UTC for session consistency
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Overlap between today's price and previous VWAP ranges often indicates strong support/resistance. Watch these levels closely!

Monday Range Reference (Tuesday Highlight)​

  • Drawn every Tuesday: Shows Monday's VWAP±2σ for the entire next week
  • Box: Semi-transparent, with colored border
  • Horizontal dashed lines: Mark 25%, 50%, and 75% of the range for intraday structure
  • Labels: Show the exact price of Monday's high and low (at the right edge of the box)
Trick: Use Monday's range!

Markets often respect the weekly opening structure. If price holds or rejects Monday's range midweek, it can set the tone for trend or mean-reversion setups.

Standard Deviation Levels​

  • ±2σ: Core box, always shown
  • Optional: ±0.5, ±1.5, ±2.5, ±3.0, ..., ±5.0.
    • Enable only those you need: Clean chart for swing trading, or a finer grid for scalping/extremes.
  • Line style: Dashed for today, dotted for previous days, colored to match their respective range.
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Extremes beyond ±3σ are rare! If price touches ±3, ±4, or ±5, you're seeing unusual volatility — often a sign of exhaustion, potential breakout, or “tail” price action.

Daily Buy/Sell Delta (Optional)​

  • Delta logic: Calculated from 4-hour non-Heikin Ashi candles.
    • Buy Volume: Candle closes above previous
    • Sell Volume: Closes below previous
    • Even Split: Flat close
  • Delta = Buy - Sell: Can be shown as a label.
  • Monday range delta: Accumulates over the weekly Monday box as well.
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A strong positive delta with price above VWAP? Bulls are in control! Negative delta with price below? Sellers are dominant. Watch for delta/price divergences for early reversal clues.

Example Chart Explained​

  • Teal box: Today's VWAP±2σ range
  • Gray boxes: Historical daily VWAP±2σ ranges
  • Horizontal dashed lines: Extra deviations, as enabled in your settings
  • Purple labels: Show key high/low prices for the day or Monday range
  • Box height: Directly maps to the statistical range of most price action
  • Midrange markers: Dashed lines at 25/50/75% (on weekly/Monday range) help assess if price is holding above/below midpoints

Settings Overview​

  • Show Today's Range: Enable/disable current day's VWAP box
  • Show Previous Ranges: Show historical daily ranges for context
  • Number of Ranges: Set how many past days (up to 70) to visualize
  • Box Colors/Transparency: Tweak for your theme

Best Practices & Interpretation​

  • VWAP±2σ Range:
    • High-probability for consolidation or reversals.
    • Use for mean-reversion entries; avoid initiating new trades at the edge.
  • VWAP±3σ+ Levels:
    • Watch for breakouts, traps, or exhaustion.
    • Not for routine trades — use as alert zones.
  • Historical Overlap:
    • Today's price inside prior VWAP boxes = potential S/R zones.
  • Monday Range:
    • Great for swing traders or those trading weekly patterns.
  • Delta Divergences:
    • Delta direction vs. price action can flag early reversals or continuation.

Warnings & Limitations​

VWAP is based on 1-minute data.

On illiquid or gappy assets, this can cause noisy or unreliable ranges (e.g., microcaps, thin altcoins, stocks with pre/post-market activity).

Delta calculation is inferred, not from tick-by-tick trade data.

On assets with irregular or choppy price moves, delta may misrepresent the actual buying/selling aggression.

Session alignment is always 00:00-23:59 UTC.

If you trade instruments with official sessions at other hours (like US equities), be aware: pre/post-market trades will influence VWAP and ranges.

Added Value vs. Free VWAP Tools​

  • Anchored 1-min VWAP lock at a precise daily close for true historical stats
  • Historical storage and continuity (70+ prior days — adjustable)
  • Flexible deviation plotting: Clean or granular as you wish
  • Unique Monday/weekly context, unavailable in generic VWAP scripts
  • Directional volume delta overlays — see who's in control
  • Visual and structural navigation: Extended boxes, dashed midrange lines, S/R reference at a glance

FAQ​

Q: What's the best setting for day trading?
A: Focus on today's VWAP±2σ, keep deviation bands to ±0.5/1.5/2.5 max for clarity, and monitor daily delta for shifts in control.

Q: Can I use this for swing or weekly trades?
A: Absolutely! Enable the Monday range and several weeks of history to spot recurring support/resistance and breakout patterns.

Q: Do I need to adjust for my market's open/close?
A: No, the script uses 00:00-23:59 UTC. Just be aware this may differ from your instrument's official session.

Conclusion​

ZenAlgo - Ranger is a sophisticated VWAP-based range indicator for traders who want both statistical confidence and rich market context.
Use it to anchor your trading to reality, not random lines.