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:
- Period – calculation period;
- Smoothing – smoothing period;
- Method – calculation method;
- Level 1 – values level 1;
- Level 2 – values level 2;
- Level 3 – values level 3;
- Level 4 – values level 4;
MA – moving average on the Range data with the Smoothing period and the Method calculation method
If Max – Min > 0:
If Close > PrevClose:
Max, Min – the highest and the lowest Value within Period
Maximum, Minimum – the highest and the lowest values of the two
MT5 Indicators – Download Instructions
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
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How to install RIND MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- 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
How to remove RIND MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
RIND MT5 Indicator (Free Download)
Click here below to download: