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Daily Rang Trend

Idea of the indicator

Lack of a pulse (events, news ...) explains the oscillation of prices in a range around an equilibrium level (said spindle level), the occurrence of a major operations pushes the price to leave horizontal corridor (range) and take direction.

  • How to determine the equilibrium level?
  • How to determine the area of horizontal movement (range)?
  • After leaving the Range, what are the next terminal of the movement?
  • And what will be the next equilibrium level after this move?

This indicator carries an answer to these questions:

Indicator works on the chart H4 and less and all Forex product.

The Indicator changes the values at the opening of new daily Bar.


Recommended reading of the indicator

  • Range of horizontal movement is the interval between R1 and S1 (the two green lines).
  • Closing below S1 means high probability of falling through.
  • Closing above R1 means high probability the rise.
  • Level R2 is the first barrier of upside, and S2 is the first barrier of the decline.
  • The price has a tendency to return to the the equilibrium area (between R1 and S1).
  • Closing and stability below S2 opens the way to S3.
  • Closing and stability above R2 opens the way to R3.
  • Touch and stabilizes below R3 gives very strong sign of change to the downside.
  • Touch and stabilizes above S3 gives very strong sign of change to increase.


Parameter

  • "fact" is the only input parameter. It gives you possibility to adapt your interval. I recommend the default value of "1.0", below "0.62" to tighten the intervals, or "1.62" to widen them.

In the attached video, a strategy to use this indicator, sample test shows very nice results!

For best results, combine this indicator with indicators forces specially: https://www.mql5.com/en/market/product/7261

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