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Indicators

DailyRange - indicator for MetaTrader 5

mishanya | English Русский 中文 Español Deutsch 日本語 Português

Published by:
Nikolay Kositsin
Views:
4817
Rating:
votes: 18
Published:
2012.02.09 09:17
Updated:
2016.11.22 07:32
dailyrange.mq5 (6.86 KB)view

Real author:

mishanya

The indicator calculates forecast prices of the daily price range. It shows resistance and support levels of current day using the prices of the previous day. The formulae for calculation of price levels can be found in "The New Science of Technical Analysis" book by Thomas R. DeMark.

The indicator was first implemented in MQL4 and published in CodeBase at mql4.com 11.11.2008.

DailyRange indicator

DailyRange indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/783

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