Ranging

Marks bars where price went back and forth: its net move over N bars is small next to the window's range.

It divides the close's move over the last window bars, as a fraction and without its sign, by the window's high-to-low range, also as a fraction. It is on where that ratio is below the threshold, 0.5 by default, meaning price covered its range without getting far. The value on each marker is that ratio.

How to read it

Markers sit on the candles on bars where the market is ranging.
Long runs of markers mean a sideways stretch; gaps mean price is moving one way.

What it outputs

Ranging: On where the net move over the window is below the threshold share of its range; the value is that ratio.

When it fires

On bars where the close's net move over the window, divided by the window's high-to-low range, is below the threshold.

Settings

window: How many bars the move and range are measured over. Longer windows judge the larger picture; shorter ones flip with each push.
threshold: The ratio below which a bar counts as ranging. Lowering it, say to 0.2, keeps only clearly sideways stretches.

Pitfalls

The output carries the ratio, not a 1: any bar with a value counts as on.