RangePower Index
- Indikatoren
- Miroslav Vokaty
- Version: 1.0
RangePower Index is an MT4 indicator that accurately measures the strength of currencies, indices, gold and oil based on their daily range. Thanks to this, you will immediately know which assets have real momentum and which, on the contrary, are losing strength.
✅ Daily range analysis (high–low) for currencies, indices, gold and oil
✅ Quick visualization of the strongest and weakest assets
With RangePower Index you will gain a clear competitive advantage - trade only where there is real market strength.
The indicator provides a quick look at the prevailing sentiment in the market - risk on, risk off.
The currency pairs table shows the daily range of currency pairs, and for a quick overview you can set the color distinction of the achieved daily range in percent. In the basic settings, only the main pairs and their combinations are displayed. To display other pairs, you must enter all the desired pairs that you want to display in the CustomForexPairs field (e.g.: AUDCAD,USDCAD,USDCHF,USDCNH) and set UseCustomSymbols=true.
Basic settings
FontSize = 8;
buy_level = 90; Daily range level for buying (in %)
sell_level = 10; Daily range level for selling (in %)
TableColumns = 10; Number of columns in the currency pairs table
ColumnSpacing = 135; Space between columns (in pixels)
TableYPosition = 350; Vertical position of the table
Prefix and suffix settings
SymbolPrefix = "";
SymbolSuffix = "";
Settings for manual symbol entry
UseCustomSymbols = false;
CustomForexPairs = ""; E.g. "EURUSD,GBPUSD,USDJPY"
UseCustomIndices = false; Use custom indices (true or false) // Allow user to override Gold symbol
CustomIndices = ""; !!IMORTANT!! SEE NOTE
UseCustomMetals = true;
CustomGoldSymbol = "XAUUSD"; // Allow user to override Gold symbol
UseCustomOil = true;
CustomOilSymbol = "USOIL"; // Allow user to override Oil symbol
Displayed indices: US Dollar Index, S&P 500, NASDAQ, Dow Jones, Russell 2000, FTSE 100, DAX, EURO STOXX 50, CAC 40
NOTE: If your broker offers different index names than those in the code, to display the indices correctly, it is necessary to follow the order and method of entry in the CustomIndices field, the names after the colon must match the names in the code:
Order: xxx:USDX,xxx:S&P 500,xxx:NASDAQ,xxx:Dow Jones,xxx:Russell 2000,xxx:FTSE 100,xxx:DAX,xxx:EURO STOXX 50,xxx:CAC 40
Method of entry: instead of xxx, enter the name of the symbol as offered by your broker, e.g. the S&P 500 index is offered under the name US500, then the entry in the field for this index will be US500:S&P 500. It is necessary to fill in the ENTIRE FIELD, for an index that is not available at your broker in the offer you enter 0:0.
Example of filling:USDX:USDX,US500:S&P 500,NAS100:NASDAQ,US30:Dow Jones,US2000:Russell 2000,UK100:FTSE 100,GER30:DAX,0:0,FRA40:CAC 40
In this case the broker does not offer the EURO STOXX 50 index.
