Range Forecast H1 – indicator MetaTrader 4

The indicator displays the actual range of the hourly candle in percent and the calculated range based on average statistics.

Indicator parameters:
Averaging Period – averaging period for calculating the relative range indicator.
Number Of Bars For Statistics – number of bars in history for collecting average statistics data for a trading instrument.
Shifting Start Of Statistics Calculation – shift from which bar to start collecting statistics so that the readings do not affect the last N data.
Histogram Size – histogram bar size (actual range).
Line Size – line size (forecast range).

Histogram Color
– histogram color.
Line Color – line color.
How to understand the indicator readings:
1. Histogram bars display the actual range of the H1 candle as a percentage (%).

2.
Line is the calculated value of the H1 candle range as a percentage (%) based on the average statistics.
!!! The indicator works only on the H1 chart period.

Alternative:  Save and show the objects of testing chart - script MetaTrader 4

Range_Forecast_H1_EURUSDH1


Range_Forecast_H1_GBPUSDH1


Range_Forecast_H1_USDCADH1

📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks