Percent Price Change per Candle - Simple but Important - MetaTrader 5 Script - MT4/MT5 Resource
An extremely simple indicator, but also extremely important and powerful, it can help traders manage risks and help EAs make automatic trading selections.
This indicator uses ATR to calculate the average price change per candle, but displays it as a percentage of price, which helps with symbol selection in order to compare symbols and understand the expected size of the price change on an average candle.
The example above shows that, on average, the price of the BCHUSD instrument is expected to fluctuate between 4.6% and 9.2% daily
Attachment download
📎 atr_in_percentage_of_price.mq5 (3.65 KB)
Source: MQL5 #38715
Percent price change per candle - Simple but important - MetaTrader 5 script usage and screening recommendations
Percent Price Change per Candle - Simple but Important - MetaTrader 5 Script is a resource 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 only on titles or short-term profit descriptions.
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