Range Forecast H1 - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources

The indicator shows the actual range of hourly candles in percentage form as well as the calculated range based on average statistics.

Indicator parameters:

Average Period - Calculates the average period of the relative range indicator.
Number of bars - the number of historical bars used to collect average statistics of the trading instrument.
Movement start of statistical calculation - from which bar to start collecting statistical data so that the reading does 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 interpret indicator readings:

1. The histogram shows the actual range of the H1 candle in percentage (%).

2. Lines are H1 candle range values ​​calculated as a percentage (%) based on average statistics.

!!!This indicator is only available for H1 chart period.

Attachment download

📎 range_forecast_h1.mq4 (11.05 KB)

Source: MQL5 #53045