SRange_Contraction - MetaTrader 5 Script - MT4/MT5 Resources
Signal indicator for daily range. It is based on indicator range contraction .
It displays the ratio between today's and yesterday's range in a separate window. It marks narrow range points (below the specified value) with a signal pointer.
There are three tunable parameters:
If RC < threshold:
Attachment download
📎 srange_contraction.mq5 (8.59 KB)
Source: MQL5 #21109
SRange_Contraction - MetaTrader 5 script usage and filtering suggestions
SRange_Contraction - 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.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •