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Range_Contraction - indicator for MetaTrader 5

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votes: 9
2018.07.09 11:04
2018.09.17 10:56

The oscillator displays in a separate window the yesterday/today ranges ratio.

"If yesterday's range was narrower than the previous day's one, it may be an explosive movement today." (Toby Crabel)

It has one input parameter:

  • Threshold - threshold(*)

* If yesterday's range is narrower than the Threshold and the previous day's range was wider than yesterday's range, then a good movement can be expected today.


Range = (High - Low) / ((PrevHigh - PrevLow) / 100.0)

Translated from Russian by MetaQuotes Software Corp.
Original code:

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