Watch how to download trading robots for free
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
Experts

Range Follower - expert for MetaTrader 5

Boris

Views:
5882
Rating:
votes: 15
Published:
2020.07.24 17:12
Updated:
2020.08.11 14:16

  • This expert opens trade in the direction of the trend (buy for uptrend, sell for downtrend) if a specific rate of average daily range has been exceeded.
  • Average daily range is calculated by ATR indicator with period of 20 bars.
  • Default rate is 80 percent. if 80% of average daily range is exceeded it opens trade.
  • Default stop-loss is daily high for sell order, daily low for buy order.
  • Default take-profit is remaining part of the average range in pips.
  • This expert is only for intraday trading, so opened positions will be automatically closed at midnight.
  • Expert is successful on long body candles, unsuccessful on long tail candles.
  •  Comments are self-explanatory.
  • Trend: intraday trend.
  • Average: Daily ATR for 20 bars.
  • Trigger: level of which trade will open if it is reached.
  • Rest: remaining part of average range after trigger range is subtracted. also take-profit in pips.
  • Daily: range between daily high and low.
  • To High: distance to daily high in pips.
  • To Low: distance to daily low in pips.
  • Trade Opened: true if trade is opened.
  • Range Reached: true if trigger level has been passed.
  • Seconds Left: seconds left until midnight. 24:00. after reached opened order is closed automatically if sl or tp is not reached.
  • End Time: time when the opened position will get closed and start new setup at.

    Design patterns - Builder Design patterns - Builder

    For a complex object separate its construction from representation. Same construction process can create different representations

    Step chart Step chart

    Step chart (upgraded version)

    Random walk index Random walk index

    Random walk index (optimized version)

    Identify potential Trends/Range (Pivot Points) + Entry points Identify potential Trends/Range (Pivot Points) + Entry points

    The story behind this indicator is really interesting. I've published last week a script called "Identify potential Trends/Range (Pivot Points)" and a huge number of MQL5(ers) contacted me to ask if it is possible to have it as an indicator. So I was glad that lot of people actually like my scripts and indicators so that is why I've decided to convert the script to this indicator.