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Daily range - expert for MetaTrader 5

Scriptor | English Русский Español

Published by:
Vladimir Karputov
Views:
338
Rating:
votes: 11
Published:
2019.02.07 09:09
Daily range.mq5 (73.89 KB)view

Idea by: Scriptor

mq5 code by: barabashkakvn

The EA searches for a daily range. It uses objects OBJ_HLINE and OBJ_VLINE.

A daily range within Sliding window size days (current bar #0 is not involved in calculations) can be calculated as Highest - Lowest or as a mean value by module Close #i - Close #i+1. Calculation mode is set in Daily range

The daily range is then used in the calculations of levels Stop Loss and Take Profit:

SL = daily_range * Stop Loss Coefficient

TP = daily_range * Take Profit Coefficient

The daily range is calculated once a day (time Start hour::Start minute) and at the first launch of the EA.

BUY signal:

Price Ask >= Highest of the daily range + daily_range * Offset Coefficient

SELL signal:

Price Bid <= Lowest of the daily range - daily_range * Offset Coefficient

Number of positions opened within the current day shall be limited by parameter Max Positions.


Search for a daily range is visualized using two vertical lines (the limit the search range) and two horizontal lines (that show the lines of position opening signals) :

Daily range

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Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/23334

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