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Indicators

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

Robert Eisenlohr
Published by:
TheCoder
TheCoder

TheCoder

  • Quant Engineer, Consultant at  Trading Robots and other Algorithms
  • United States
  • 5690
Wrote my first piece of software in 1994,
Graduated in my first Engineering degree in 2002 (Top Ranked University)
MBA in Finances in 2006 (Top Ranked)
MBA in Business Law in 2012 (Top Ranked)
Graduated in my second Engineering degree in 2014
Licensed with FINRA Series 57 in 2019
10 codes 16 comments
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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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