MT indicator

trendie said:

Does anyone have, or know of, an indicator that alerts if the price has been ranging?

For example, if I set the value "60 pips" and "4 hrs", the alert would show whenever the chart range has been 60 pips or less in the past 4hrs.

I am looking for an automatic/visual way of switiching off my trend-triggers, when the market is ranging, when I should be looking for breakout trades.

I know there are some BO systems that draw boxes over a set period of time, but this would essentially be dynamic.

thanks

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prasp19 said:

I am a new trader. I'm following 5 Min & 15 Min time frame.
can I get any indicator on MT4 which will give me signals on rate frame?
like 20 pip candle, 50 pip candle?
thanks
prashant

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counter_violent said:

Yes these are called Renko Charts...essentially these candles blocks plot in equal values...say 10 pips or whatever settings you choose.

Try MQL4 forums and google MT4 Renko Candles Indicators.
There are indicators available...just search them out.

Click to expand...

piparb said:

today I write a indicator ,who shows candles lengths between ticks come in
That is the best indicator I know for priceaction controll .

happy trading :clover:

Click to expand...

counter_violent said:

Yes these are called Renko Charts...essentially these candles blocks plot in equal values...say 10 pips or whatever settings you choose.

Try MQL4 forums and google MT4 Renko Candles Indicators.
There are indicators available...just search them out.

Click to expand...

Jason Rogers said:

I've seen traders use ATR as an indicator to bias ranging vs. trending markets. Simple concept, decreased volatility indicates a range.

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trendie said:

Does anyone have, or know of, an indicator that alerts if the price has been ranging?

For example, if I set the value "60 pips" and "4 hrs", the alert would show whenever the chart range has been 60 pips or less in the past 4hrs.

I am looking for an automatic/visual way of switiching off my trend-triggers, when the market is ranging, when I should be looking for breakout trades.

I know there are some BO systems that draw boxes over a set period of time, but this would essentially be dynamic.

thanks

Click to expand...

trendie said:

Does anyone have, or know of, an indicator that alerts if the price has been ranging?

For example, if I set the value "60 pips" and "4 hrs", the alert would show whenever the chart range has been 60 pips or less in the past 4hrs.

I am looking for an automatic/visual way of switiching off my trend-triggers, when the market is ranging, when I should be looking for breakout trades.

I know there are some BO systems that draw boxes over a set period of time, but this would essentially be dynamic.

thanks

Click to expand...