DailyRange - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The indicator calculates the predicted price for the daily price range. It uses the previous day's prices to show the current day's resistance and support levels. The formula for calculating price levels can be found in the book "The New Science of Technical Analysis" by Thomas R. DeMark.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on November 11, 2008.
daily range indicator
Attachment download
📎 dailyrange.mq5 (6.86 KB)
Source: MQL5 #783
DailyRange - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
DailyRange - 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 only on titles or short-term profit descriptions.
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