Price Range MT5

Price Range MT5 is a system that identifies price ranges and levels, recognizing when a range ends and a trend begins. It indicates the direction of the new trend with a high degree of probability and also sends you push notifications, enabling you to make a decision in time.

Price Range indicator functions

The indicator provides you with push notifications about all price ranges, levels, and trends it identifies in real-time. It works for any symbol and any time frame.

The indicator plots all price ranges itself. You do not need to use additional drawing tools. To delete all the ranges displayed, remove the indicator from the chart.

The indicator understands when the range actually ends and marks the signals of the beginning of a trend on the chart.

Within stable ranges, the indicator finds support and resistance levels. These are price levels from which the price will bounce with a very high probability.

For support and resistance levels, the indicator plots the most optimal Stop Loss line. Data Science calculates this price and is the next level of support or resistance. If the market price crosses the calculated Stop Loss, it usually leaves the current price range and rushes higher or lower.

Read about trading strategies for this indicator in my blog: https://www.mql5.com/en/blogs/post/761306

System requirements

  • Any type of trading account
  • Any trading symbol
  • All time frames

Settings

All indicator settings are briefly shown in the screenshots.

Please don't forget to enable Push Notifications in your trading terminal! Here's how to do it: https://www.metatrader5.com/en/terminal/help/startworking/settings#notifications

Push notifications don't work in the strategy tester! This is normal.

    Advantages of the Price Range indicator

    • It has a very simple interface.
    • There is nothing unnecessary about this indicator. It does not clutter the price chart, and you can easily combine it with other indicators.
    • The indicator makes trading with limit orders simple. You know where to set them after displaying support and resistance.
    • The Price Range MT5 indicator automatically adjusts to the color palette of your trading platform. Your eyes will be comfortable.
    • The indicator knows 12 languages.

    If you have any questions, please feel free to contact me by private message. I have more information on my website, which I've shared in my profile.

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