Average Range - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
It is an indicator that determines target levels based on the annual, monthly, weekly or 4-hour average of price movements.
Current levels are determined as follows:
OpenBuffer[i] = period opening price;
HighBuffer[i] = period opening price + adr/2;
LowBuffer[i] = period opening price - adr/2;
MaxHighBuffer[i] = period opening price + adr;
MinLowBuffer[i] = period opening price - adr;
Attachment download
📎 averagerange.mq5 (10.63 KB)
Source: MQL5 #54247
Average Range - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Average Range - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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