MT indicator

[trendie]

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

 

[metatraderglobal]

If you want you can visit my blog, metatraderglobal.com to learn more. Thanks!

 

[prasp19]

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

 

[Jason Rogers]

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

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

 

[counter_violent]

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

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.

 

[piparb]

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:

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.

 

[prasp19]

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:

thank u for ur valuable guidence about pip bars

happy trading
prasp19

 

[prasp19]

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.

thank u for ur valuable guidence about pip bars

happy trading
prasp19

 

[prasp19]

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

thank u for ur valuable guidence about pip bars

happy trading
prasp19

 

[prasp19]

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

thank u for ur valuable guidence about pip bars

happy trading
prasp19

 

[trendie]

Thanks to Black Swans post regarding the http://forex-strategies-revealed.com website, referred to on another thread.

I found this: http://forex-strategies-revealed.com/range-bound-trading/atr-standard-deviation

It uses a combination of ATR and Standard Deviation to quantify rangebound conditions!
Worth a look, and possibly a step towards objectifying rangey conditions, and thus whether I should be in trend-mode or range/breakout mode from an automated codified way.

BlackSwan

 

[The Artist]

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

Hi trendie,

Actually, to answer the original question about an indicator that alerts if the price has been ranging, you can use Donchian channels.
For instance, to use your 60pips / 4hrs example, take a 15min charts, and plot Donchian channels with period 16. Then create an alert to go off when the spread between the upper and lower band falls below 60pips.