ATR_OpenIndent_v2 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The indicator displays the opening price of an advanced timeframe (e.g. 1-day timeframe) and draws an indentation line on the opening price, thus forming a range. Depending on the parameters, this indicator can be used in a trading system for trading range breakouts and vice versa - for trading within the range.
Simplest explanation example (based on current H1 frame and underlying D1 frame):
Attachment download
📎 atr_openindent_v2.mq5 (6.43 KB)
Source: MQL5 #1082
ATR_OpenIndent_v2 - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
ATR_OpenIndent_v2 - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. 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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