Range Rider - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

An indicator of the relationship between two true amplitudes proposed by Larry Williams. Calculation formula:

Range Rider=100 * MovingAvg (real range, fast period) / (MovingAvg (real range, slow period)

This indicator allows users to see periods in which the range of price changes narrowed, which increases the likelihood of a wider daily range in the future.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to the terminal data folder \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

The original indicator was developed in MQL4 language and published in the code base on January 13, 2013.

Figure 1. Range Rider indicator

Attachment download

📎 smoothalgorithms.mqh (134.03 KB)

📎 Range_Rider.mq5 (7.13 KB)

Source: MQL5 #11334