Expert Advisors • Indicators • Scripts • Libraries

MQL.RobotFX.org is the biggest collection of MetaTrader expert advisors (MT5 & MT4), indicators, scripts and libraries that can be used to improve trading results, minimize risks or simply automate trading tasks

MetaTrader 5 Indicator | Range Contraction

The oscillator displays in a separate window the yesterday/today ranges ratio.

"If yesterday's range was narrower than the previous day's one, it may be an explosive movement today." (Toby Crabel)

It has one input parameter:

  • Threshold - threshold(*)

* If yesterday's range is narrower than the Threshold and the previous day's range was wider than yesterday's range, then a good movement can be expected today.

Calculation:

Range = (High - Low) / ((PrevHigh - PrevLow) / 100.0)

MetaTrader Experts, Indicators, Scripts and Libraries

20987

Best MetaTrader Indicators + Profitable Expert Advisors