"Q_Range" Indicator
Q_Range
Version 1.0.0 | QuantVue
Overview
Q_Range is a multi-phase day range classification indicator for index futures, although does appear to work on commodities and stocks as well. It answers one core question before and during each trading session:
How much energy does today have — and where is it most likely to go?
It does not predict exact price targets. It does not promise you a living. What it does is take a structured, evidence-based read on the day's character at four specific moments, update that read as new information becomes available, and present it visually without making you do math during a live market.
Each morning, Q_Range scores three areas of market context before the open, classifies the day into one of five types, and draws an expected range zone centered on the session open. As the session progresses through three additional phase transitions — 10:30, 3:00, and 3:30 ET — it updates the classification with confirmed intraday data. Each phase produces a new, more opaque bracket that reflects what the market has actually done, not just what was predicted.
⚠️ Q_Range is designed exclusively for the NYSE regular trading session (9:30–4:00 ET). All phase transitions are hardcoded to New York time. It will not behave correctly on forex, crypto, or extended-hours charts. You have been warned — ideally before you spend twenty minutes wondering why nothing fired.
Requirements
TradingView with a Pro or higher subscription (VIX data requires market data access)
Intraday chart — 5-minute recommended; works on 1m, 3m, 5m, 15m
Instrument — NQ, MNQ, or any NYSE-session equity index futures
Timeframe — the indicator is timeframe-aware; all bar counts scale automatically
Core Concept: The Five Day Types
Every session scores between 0 and 100. That score maps to one of five day type classifications, each with a distinct color and expected range behavior.
75–100
EXPANSION
Teal #00E5CC
Strong trending day, full range likely to print, breakouts tend to follow through
55–74
DIRECTIONAL
Green #00CC88
Meaningful range with a directional bias, not a full trend but not aimless either
40–54
NEUTRAL
Gold #FFD700
Two-sided, rotational trading around the open, mean reversion favored
20–39
COMPRESSION
Orange #FF8C00
Tight, choppy, ranges likely to fail — a great day to reduce size and increase patience
0–19
DEAD TAPE
Red #FF4444
Almost no participation. The market has somewhere else to be. So should you.
The expected range zone is sized relative to the day type. EXPANSION days get a wider bracket; DEAD TAPE days get a very narrow one. The bracket is not a prediction of where price will go — it is a probability envelope showing where most of the session's activity is statistically likely to occur.
The Four Phases
Q_Range fires at four distinct moments during the trading day. Each phase carries forward a portion of the previous phase's score, then supplements it with new real information that only exists at that moment. Think of it as an increasingly confident revision — the same way a weather forecast gets more accurate the closer you get to the event.
Phase 1 — Pre-Session 9:30 ET
9:30 ETFires at the RTH open.
Phase 1 scores the session using three modules of pre-session context: what the overnight session did, what yesterday's session looked like, and what the current volatility environment is telling us. All three inputs are scored relative to the past 60 sessions (configurable), so a score of 73 means "this reading is stronger than 73% of recent sessions" — not an absolute number.
The Scoring Profile (configured in settings) determines how much each input contributes to the final score. See the Settings section for a full breakdown of available profiles.
What appears on the chart at Phase 1:
A classification label above the open bar showing the day type, score, and module breakdown
A shaded range zone around the open — fills only during the opening hour, but the boundary lines extend through the full session
A dashed open reference line running through the full session
A dotted reference of the Phase 1 expected high and low (visible from Phase 2 onward)
A directional lean label (if enabled)
A 0DTE warning label on applicable sessions (see below)
Phase 2 — Opening Hour 10:30 ET
10:30 ETFires at the close of the opening hour.
After the first hour, the market has shown its hand — at least partially. Phase 2 takes the Phase 1 score as a baseline, then adds new input that we saw during Phase 1.
Phase 2 re-anchors its bracket to the 10:30 price, not the 9:30 open. This means if the market has moved significantly during the opening hour, the Phase 2 zone is centered on where it actually is now — which is more actionable.
What appears on the chart at Phase 2:
A new, slightly more opaque bracket anchored to the 10:30 price
Opening hour high and low boundary lines (dashed; turn solid and change color on a break)
A first 30-minute momentum label at the 10:00 bar showing direction and magnitude
A live range budget gauge below the bracket (see below)
A Phase 2 directional lean label
The Range Budget Gauge is a thin progress bar that sits below the lowest active bracket boundary. It fills from left to right in real time as the session's price range expands.
Cyan — less than 50% of the expected range has been used. Plenty of room to move.
Yellow — 50–75% consumed. The day is maturing; be cautious on new range extensions.
Orange — over 75% consumed. Most of the day's energy has been spent. Chasing breakouts here is a choice, just maybe not a great one.
The gauge automatically repositions downward if a later phase draws a bracket lower than the current floor, so it always anchors to the lowest visible level on the chart.
Phase 3 — Power Hour 3:00 ET
3:00 ETFires at the start of the final hour.
By 3:00 ET, the market has spent most of its day. Phase 3 uses two new inputs alongside the Phase 2 score.
The Phase 3 bracket anchors to the 3:00 price.
What appears on the chart at Phase 3:
A new, more opaque bracket anchored to the 3:00 price
The Phase 2 bracket truncates cleanly at 3:00 — no overlap
A Phase 3 directional lean label
The score label reads "P3 ▶ [TYPE]" at the left spine
Phase 4 — Final Push 3:30 ET
3:30 ETFires at 3:30 ET — the last 30 minutes.
Phase 4 is the most specific and highest-conviction phase. The direction of this half-hour window has a statistically meaningful tendency to persist into the close.
There is one important nuance: when the 3:00–3:30 move disagrees with the Phase 3 lean, Phase 4 defers to Phase 3's direction. The full-day trend is a stronger predictor of the final 30 minutes than just the last half-hour's wiggle. When this deferral happens, the lean label shows a ←P3 tag.
The Phase 4 bracket anchors to the 3:30 price and runs only to 4:00. It is the most opaque of the four — it is the final word.
0DTE note: Phase 4 is the window where same-day expiring options become the most disruptive. If a 0DTE warning is active, treat directional lean signals with extra respect but also extra caution — dealer hedging can accelerate moves sharply in either direction.
Directional Lean
Each phase produces a Directional Lean label — separate from the range energy score — that indicates which way the indicator expects price to move next.
This is a distinct system from the day type classification. The day type tells you how much range to expect. The directional lean tells you which way it's more likely to go.
Reading the lean label:
P2 →— which phase produced this lean▲ BULL— direction (teal = bullish, orange = bearish, gray-blue = neutral)●— confidence level: filled circle = HIGH, half-filled = MEDIUM, empty = LOW
Confidence tiers mean something specific:
HIGH — multiple independent signals point the same direction. Take it seriously.
MED — one clear signal, some ambiguity. Use as a tiebreaker, not a standalone trigger.
LOW — insufficient evidence to call a direction. The market hasn't committed yet, and neither should the lean.
Interior Levels & Cluster Zones
Each bracket — Phase 1 and Phase 2 — contains a set of interior reference levels that subdivide the expected range into areas of potential support and resistance.
Cluster Zones are the interesting part. At 10:30 ET, Q_Range scans all active interior levels plus the key structural prices on the chart: Phase 1 boundaries, opening hour high and low, and the session open — and checks whether any two or more of them sit within a close proximity threshold. When they do, the zone is highlighted with an amber shaded box that extends through the full session.
A cluster means multiple independent methods of measuring "important price" have converged on the same area. That kind of agreement is worth knowing about. It does not mean price will reverse there — it means if price reaches that level, it is more likely to react than a random spot on the chart.
Cluster Sensitivity (default: 100%) controls how close two levels need to be to qualify as a cluster. Increase this to find broader, looser zones; decrease it to find only very precise overlaps.
Settings Reference
① Overnight Scoring Method
Controls how the overnight session's price behavior is evaluated. All four methods produce a 0–100 score; they differ in what behavior they reward.
Trend Consistency (default)
How cleanly price moved in one direction overnight. A smooth, one-way move scores high.
Directional Flow
How often price continued rather than reversed bar-to-bar. Fewer reversals = stronger signal.
Path Efficiency
The ratio of net price travel to total distance traveled. A direct move scores higher than a meandering one covering the same net distance.
Pivot Separation
Whether the overnight high and low formed at opposite ends of the session, indicating a clean directional sweep rather than midrange chop.
Start with Trend Consistency and only change it if you have a reason. The differences between methods are meaningful but subtle on most days.
② Scoring Weights — Scoring Profile
Adjusts the relative influence of the three scoring inputs. Choose the profile that best matches the current market environment.
Balanced (default)
You don't have a strong view on what's driving the market. Good all-around starting point.
Gap Days
Today has a meaningful gap from yesterday's close, and the overnight move is the dominant story.
Trend Continuation
The market has been trending for multiple consecutive days and yesterday's price action is the most reliable forward signal.
High Volatility
You're in a high-uncertainty environment — FOMC week, earnings season, macro shock. Fear levels matter more than overnight structure.
Quiet Market
Low-volatility summer grind. The fear index is essentially flat and providing no useful signal; focus on price structure instead.
③ Advanced Settings
These control the calibration of the scoring system. The defaults work well for most traders. Change them if you have a specific reason.
Lookback Period
14
How many bars are used when measuring recent volatility. 14 is the standard.
Scoring History (sessions)
60
How many recent sessions form the baseline for scoring. More = stable, fewer = reactive. Recommended range: 40–80.
Volatility Trend Lookback
10
How many sessions back the indicator compares current volatility to assess whether activity is expanding or contracting.
④ Phase 1 Display 9:30 ET
9:30 ETShow Background Color
On
Tints the chart background with the active day type color at 93% transparency
Show Score Label
On
Classification label at the open bar with score and module breakdown
Show Range Zone
On
Shaded bracket around the open (fills IB window only; lines extend full session)
Show Open Price Line
On
Dashed reference line at the 9:30 open, extending through 4:00
Show Range Price Labels
On
Price labels at the upper and lower bracket boundaries
Table Position
Top Right
Corner placement of the dashboard table
Table Text Size
Small
Label size in the dashboard
⑤ Phase 2 Display 10:30 ET
10:30 ETEnable Phase 2
On
Activates the 10:30 update cycle
Show Opening Hour Levels
On
Draws the opening hour high and low as dashed horizontal lines (turn solid and change color on a break)
Show Range Budget Gauge
On
Live progress bar showing range consumed vs remaining
Show First 30-Min Momentum Label
On
Direction and magnitude label at the 10:00 bar
⑥ Phase 3 Display 3:00 ET
3:00 ETEnable Phase 3
On
Activates the 3:00 update cycle
Show 0DTE Warning Label
On
Prints a warning label at the open on sessions with same-day expiring options active
⑦ Phase 4 Display 3:30 ET
3:30 ETEnable Phase 4
On
Activates the 3:30 final push update
⑧ Directional Lean
Show Directional Lean Labels
On
Displays the lean arrow and confidence dot at each phase boundary
⑨ Interior Levels & Cluster Zones
Show Phase 1 Interior Levels
On
Reference levels subdividing the Phase 1 bracket
Show Phase 2 Interior Levels
On
Reference levels subdividing the Phase 2 bracket
Level Line Color
Blue-gray
Color of all interior level lines
Level Line Style
Dashed
Solid, Dashed, or Dotted
Level Line Width
1
1–3 pixels
Show Confluence Cluster Zones
On
Amber shaded zones highlighting areas of level convergence
Cluster Sensitivity
100%
How close two levels need to be to count as a cluster.
0DTE Sessions
On sessions where same-day expiring options are active, Q_Range displays a warning label below the open bar.
NDX 0DTE ⚡ — NQ and MNQ on Monday, Wednesday, and Friday
SPX 0DTE ⚡ — ES and MES (daily, but flagged on the same Mon/Wed/Fri cycle for highest-gamma sessions)
Zero-days-to-expiration options require active hedging by dealers throughout the session. As these contracts approach expiry, even modest price moves can trigger large, rapid hedge adjustments — particularly near round numbers and key technical levels. This can amplify both trend continuation and sharp reversals in the final hour.
A 0DTE flag does not change how Q_Range scores the day. It is informational context. What you do with it is your problem.
Phase Agreement — What It Means
The dashboard table and each phase entry label show an agreement indicator comparing the current phase classification to the previous one.
✓ Confirmed
The new phase produced the same day type classification as the previous phase. The market is behaving consistently with the original read.
⚡ Updated
The new phase produced a different classification. Something material changed. Pay attention to which direction it shifted.
↩ Back to P1/P2
The classification reverted to match an earlier phase after having shifted. The intermediate update was corrected by new information.
Agreement is a confidence signal, not a trading signal. Three consecutive phases all calling DIRECTIONAL is different from a phase that flips between EXPANSION and NEUTRAL each time.
Reading the Chart: A Practical Guide
Here is a typical workflow for using Q_Range during a live session.
Before the open (pre-market): There is nothing to read yet. Q_Range fires at 9:30.
At 9:30 — Phase 1 fires:
Look at the classification label — what day type did it call?
Note the score — a 78 is more convincing than a 56, even if both say DIRECTIONAL
Check the directional lean label below the bracket — what direction with what confidence?
Note if a 0DTE warning is active
The bracket gives you the expected range for the day — use it as context, not as targets
At 10:00 — First 30-minute momentum label prints: The small label at the 10:00 bar tells you the direction and size of the first 30 minutes.
At 10:30 — Phase 2 fires:
Did Phase 2 confirm or update Phase 1's call? Check the agreement symbol
Look at the Phase 2 directional lean — did it align with Phase 1's lean?
Did the opening hour break either boundary? The break label and line color change will tell you
Start watching the range budget gauge — how much of the day is already consumed?
Through midday: The gauge fills slowly. If you're above 75% consumed by noon, the afternoon is likely quieter than the morning. If you're at 30% consumed by 1:00, something is either about to happen or this is a very sleepy day.
At 3:00 — Phase 3 fires: The most statistically significant phase transition in the session. Check the Phase 3 lean and compare it to Phase 1 and 2 leans — consensus across all three is meaningful.
At 3:30 — Phase 4 fires: Final read. If Phase 4's lean agrees with Phase 3 (and ideally Phase 1), that is as high-confidence a directional signal as Q_Range produces. If Phase 4 defers to Phase 3 (shows ←P3), the 3:00–3:30 move contradicted the full-day trend — treat with caution.
Tips for New Traders
Day type ≠ trade signal. EXPANSION doesn't mean "buy now." It means the day has energy and range is likely to develop. You still need your own entry criteria.
The lean is probabilistic. HIGH confidence means the historical edge points in a direction. It does not mean the edge will materialize today. Markets are under no obligation to behave statistically on any given session.
Don't fight DEAD TAPE. If Phase 1 calls DEAD TAPE and the score is 8, there is almost no statistical argument for expecting a meaningful range day. This is not a failure of the indicator — it is the indicator correctly identifying a day to sit on your hands.
Phase agreement builds conviction. A day where Phase 1, Phase 2, and Phase 3 all call EXPANSION with consistent directional leans is a very different setup than one where each phase contradicts the last. The agreement column in the dashboard is there for a reason.
Watch the cluster zones during breaks. When price approaches an amber cluster zone, there is multi-level confluence in that area. It may hold, it may not — but it is where the most price memory lives. These are not arbitrary support/resistance levels; they are intersections of several independent analytical methods that happened to converge.
Tips for Advanced Traders
Phase carry-in weights mean the scoring is auto-correlated. Because each phase carries forward 40–50% of the prior phase's score, a very high or very low Phase 1 score has structural persistence throughout the day. An EXPANSION call at 9:30 with a score of 89 needs a material intraday contradiction to flip to NEUTRAL at Phase 2 — not just a quiet opening hour. This is by design. Market regime doesn't change on every bar.
The lean threshold asymmetry is intentional. Phase 4 defers to Phase 3 lean on conflict because the full-day trend (open → 3pm) is statistically a stronger predictor of the final 30 minutes than the 3:00–3:30 return alone. If you see a Phase 4 ←P3 deferral on a HIGH confidence Phase 3 lean, the counter-move from 3:00–3:30 was likely noise against the day's dominant trend.
Wednesday is explicitly penalized in Phase 1 confidence. The data is clear: Wednesday produces the highest double-break rate and lowest continuation rate of any weekday for NQ. Phase 1 lean confidence is automatically reduced one tier on Wednesdays. You can still trade the lean — just with appropriate skepticism.
Cluster sensitivity is a dial, not a binary. At 100%, you'll find most meaningful confluences. If you trade at a tighter structure — smaller size, tighter stops — drop it to 50–60% to find only precise clusters. In high-volatility regimes, bumping it to 120–140% will catch broader zones that still carry meaning despite the wider price action.
The range budget gauge does not reset when price exceeds 100%. On genuine expansion days, the session range can exceed the full expected daily range — the gauge will sit at 100% filled and the label will still show the actual percentage consumed. This is intentional. It tells you the market has already exceeded its statistical budget, which is useful information about the type of day you're in.
Frequently Asked Questions
Q: Why doesn't anything appear on my chart? Make sure you are on an intraday chart (5-minute recommended) during or after a NYSE regular session (9:30–4:00 ET). Q_Range requires intraday data and fires only during RTH. Historical bars will show previous sessions; live sessions update in real time.
Q: Phase 2 didn't update — the table still shows ⌛ after 10:30. Phase 2 requires Phase 2 to be enabled in settings and the current bar to be after the 10:30 ET transition. If you're looking at a historical session where Phase 2 should have fired, check that Phase 2 is enabled. If you're live and it's past 10:30, try refreshing the chart.
Q: The gauge bar overlaps with other labels. The gauge automatically repositions below the lowest bracket boundary drawn by any phase. If visual clutter is an issue, you can disable individual phase brackets or the gauge itself in the Phase 2 display settings.
Q: Can I use this on ES/MES? Yes. The session timing and logic work correctly on any NYSE RTH instrument. The 0DTE flag will show SPX 0DTE ⚡ for ES/MES rather than NDX 0DTE ⚡. Scoring profiles and behavior are identical.
Q: Can I use this on a daily chart? No. Q_Range is an intraday indicator. The phase transitions are time-based within the RTH session. On a daily chart, each bar covers the entire session — the phases have nothing to fire against. Use a 5-minute or lower timeframe.
Changelog
Current version: v1.0.0
Q_Range is a QuantVue product. Past performance of any statistical pattern does not guarantee future results. Q_Range is an analytical tool, not financial advice.
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