RIND MT5 Indicator

January 17, 2020

3583

The range indicator compares daily range (High – Low) to the range between days (Close – PrevClose).

Where the intraday range is larger than the interday range, the indicator will have high values, which indicates the stop/end of the current trend;
Where the indicator has low values, it means the potential start of a new trend.

The indicator has seven configurable parameters:

Calculation:

RIND = MA(Range, Smoothing, Method)

where:

MA – moving average on the Range data with the Smoothing period and the Method calculation method

If Max – Min > 0:

Range = 100.0 * (Value – Min) / (Max – Min)

otherwise:

Range = 100.0 * (Value – Min)

If Close > PrevClose:

Value = TrueRange / (Close – PrevClose

otherwise:

Value = TrueRange

Max, Min – the highest and the lowest Value within Period

TrueRange = Maximum(High, PrevClose) – Minimum(Low, PrevClose)

Maximum, Minimum – the highest and the lowest values of the two

RIND MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.

RIND MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies

Download RIND MT5 Indicator.mq5
Copy RIND MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
Start or restart your Metatrader 5 Client
Select Chart and Timeframe where you want to test your mt5 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
Right click on RIND MT5 Indicator.mq5
Attach to a chart
Modify settings or press ok
Indicator RIND MT5 Indicator.mq4 is available on your Chart