Market Range Technical Indicator
Metatrader 4 (MT4) Technical Indicator
Market Range Technical Indicator is premium tool for all Forex Traders. It will help you find both ranging and trending markets as soon as they change state from one to another. This easy to use indicator can be used for two kinds of trading – scalping in ranging markets or “Catch the move” strategy in trending market conditions.
- Easy to use – for both novice and experienced traders, only one parameter to adjust
- Scalping and trending strategies are available with this indicator
- Works on every time frame and every currency pair
- Non-repainting algorithm
- 1 purchase – 2 licenses
Market Range constantly makes more than 1000 calculations in order to find ranging market. When range is found the indicator will start painting every candle for as long as price stays in this range. This means two main things:
- When last bar is painted from the indicator you can start scalping based on your scalping strategy. For example, if price is outside of Bollinger Bands and the last bar is painted from Market Range you can enter a position as shown bellow
2. If last bar is not painted from Market Range you can use breakout strategy. Please see the image bellow
Market Range Technical Indicator is perfect to make your case for entering trades but it can also be used just for confirmation of your existing strategy.
Due to the fact that there is only one parameter to adjust, this technical analysis tool is suitable for both novice and professional traders. This parameter shows how wide the range should be. If you use Market Range on higher time frames you should set higher value.
Market Range on GBPUSD 15 minute chart
Indicator on EURUSD 1 hour chart