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Views:: 3514
Rating:: (10)
Published:: 2018.07.09 11:04
Updated:: 2018.09.17 10:56

Range_Contraction.mq5 (6.82 KB) view

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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)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20987

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Range_Contraction - indicator for MetaTrader 5