Multi Range Calculator Indicator
MT4The Multi Range Calculator for MT4 automatically calculates and displays the multiple ranges moved by a financial asset.
Description
The Multi Range Calculator for MetaTrader 4 is a forex trading tool that analyzes the market to display different technical information about a financial trading instrument. Simply put, it is an indicator that provides insight into multiple price ranges moved by an instrument.
So, the indicator was developed to display the information for the previous trading range of any financial asset. The range calculated is the 1-day, 5-day, 10-day, 20-day, and daily ranges. Furthermore, it also automatically calculates and displays the recommended stop loss for an intended trade postion.
How to use the Multi Range Calculator for MT4
The above image shows the technical information displayed by the Multi Range Calculator indicator.
The red and green horizontal lines are the recommended stop loss zones for a sell and buy trade position, respectively. In addition, the indicator displays the calculated price range in a separate window, just below the main chart.
Furthermore, it is worthy of note to mention that the data being displayed by the indicator cannot be used in isolation to open a buy or sell trade position. However, you may refer to them during technical analysis for more insight into how a currency pair has moved in the past.
Conclusion
The Multi Range Calculator for MT4 is simply a calculator that displays different past price ranges moved by an instrument. Finally, the indicator is free.
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