A range is defined as a period of consolidation after a period of expansion. We can identify the range high as the top of the expansion, with the range low being the bottom of the pullback. We may also mark out demand (green) and supply (red) areas using the wicks on the range forming candles.
Another key component is the range equilibrium or mid-point, which can easily be marked out using the Fib tool and removing all inputs except 0.5. It often acts as a directional pivot for price action within the range.
These are difficult conditions to trade as mean-reversion is more prevalent than trending price action. That being said, a sound approach is often to buy the range low demand area targeting to sell the range mid or highs, with invalidation being a close below range low. Likewise it makes sense to sell the range high supply area targeting to cover at range mid or lows, with invalidation being a close above range high. When either of these invalidations are apparent, we can determine that price has broken out of the range and trending conditions have resumed, either to the upside (trend continuation) or downside (trend reversal).