Coil Detector
Finds stretches where band width sits in the bottom of its own recent range, boxes them, and projects the measured move on the break.
About this indicator
Compression is relative. A range that counts as tight on gold would be a normal hour on EURUSD, so an absolute threshold is useless across markets. This ranks current band width against its own preceding window and calls it compressed only when it sits in the bottom percentile you set. Everything is measured against the market's own recent history, and nothing looks ahead: the ranking window only ever contains bars that came before. A coil has to last a minimum number of bars before it is drawn, which filters the single quiet bar in an otherwise normal session. The box then watches for a break within your window, marks it, and projects the box height as a measured move from the break. Coils that never broke can be kept or hidden. Keeping them is instructive: compression resolving into nothing is common, and a tool that only shows you the ones that worked is lying to you.
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