TrendRange

TrendRange

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The trend indicator with three states:

  • Weak trend and a flat (gray color);
  • Medium trend (blue color);
  • Strong trend (pink color).

The size of bars of the histogram is defined as a multiplication of the candlestick size in points by a volume, and in case of large gaps, as a multiplication of a gap in points by a volume. The criterion for comparison when coloring bars is the histogram deviation value from its average value. Size for comparison is a mean square deviation.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

 

MT5 Indicator – Download Instructions

TrendRange is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.

TrendRange 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.

How to install TrendRange.mq5?

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

How to remove TrendRange.mq5 from your Metatrader 5 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Click here below to download MT5 Indicator:

TrendRange

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