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Indicators

Percentage of price movement per candle - Simple and Crucial - indicator for MetaTrader 5

Robert Eisenlohr
Published by:
TheCoder
Views:
4854
Rating:
(31)
Published:
2022.03.25 08:03
Download as ZIP, How to download code from MetaEditor
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Extremely simple indicator, equally extremely crucial and powerful to help traders manage their risk and help EA with automated symbol selection.
This indicator uses the ATR to calculate the average price movement per candle, but displays it as a percentage of the price and this facilitates the symbol selection, as far as comparing symbols and understanding how much price movement to expect on an average candle.

The example above shows that on average, prices of the instrument BCHUSD are expected to move between 4.6% to 9.2% on a daily basis 

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