Range Filter Signals MT4
- Indicators
-
Allan Aparece Ninal
I build indicators and Expert Advisors for MetaTrader 5.
How I work:
- Every indicator is checked for repainting: signals are decided on closed bars only, and an every-tick test confirms they do not change afterwards. - Version: 1.0
Range Filter Signals MT4 is a free indicator for MetaTrader 4. Its range filter line moves only when price travels further than its smoothed average range, so it stays flat in choppy price action and follows a real move. Buy and sell arrows mark the turns, with alerts.
It places no orders. Everything comes from closed bars, so an arrow never appears and then disappears.
Standalone: everything is built in. You do not need to buy or install any other product named on this page.
MetaTrader 4 edition: the same calculation and the same arrows as the MetaTrader 5 version. Only the arrow distance is set as a fraction of ATR, because MetaTrader 4 cannot shift arrows by pixels.
Quick start
- Attach it to any chart and timeframe. The defaults are Sampling period 100 and Range multiplier 3.0.
- A longer period or a larger multiplier gives fewer signals. Switch off Draw the bands if you want only the line.
- Pop-up alerts are on. Switch on Play a sound, Push notification or E-mail if you want them.
What you see on the chart
- The filter line: green while it rises, red while it falls.
- Two dotted bands at the filter plus and minus the range (optional).
- A buy or sell arrow on the closed bar where the filter turns.
How it works
- The range: the average size of a bar-to-bar close change, smoothed twice (over the period and over twice the period minus one) and multiplied by the multiplier.
- The filter: when the close is above it, it rises to the close minus the range and never falls. When the close is below it, it falls to the close plus the range and never rises. Smaller moves leave it unchanged.
- A buy signal: the close is above a rising filter, right after a sell setup. A sell signal is the mirror. One arrow per turn.
- Own implementation of the published range-filter method, written from the maths.
Who it is for
For traders who want a trend line that ignores noise, on any symbol and timeframe.
Inputs
| Input | Default | What it does |
|---|---|---|
| Sampling period | 100 | Smoothing length of the average range (2 to 1000). |
| Range multiplier | 3.0 | Scales the range. Larger gives fewer signals. |
| Draw the bands | on | Shows or hides the two dotted bands. |
| Closed bars to calculate | 3000 | How much history is calculated (300 to 50000). |
| Arrow distance from the candle | 0.3 | Gap as a multiple of ATR(14). |
| Pop-up alert | on | Alert window in the terminal. |
| Play a sound | off | Plays the sound file below. |
| Sound file | alert.wav | File from the terminal Sounds folder. |
| Push notification | off | Needs your MetaQuotes ID. |
| off | Needs e-mail set up in the terminal options. |
How often it signals
Signals per month per symbol with the defaults, on EURUSD, GBPUSD, USDJPY and XAUUSD, October 2023 to October 2026 (D1: ten years), closed bars. A code count, not a trading result.
| Timeframe | Signals per month |
|---|---|
| M15 | about 58 to 62 |
| H1 | about 15 |
| H4 | about 4 to 5 |
| D1 | about 0.6 to 0.8 |
How it was checked
- Non-repainting: in the MetaTrader 4 Strategy Tester on EURUSD H1, every tick, 2026 (8,417,316 ticks, 4,812 closed bars), 155 signals appeared. None changed after its bar closed or was drawn on the forming bar.
- Code check: the filter, range, bands, trend side and every arrow were compared bar by bar with an independent Python calculation. The test ran on EURUSD, GBPJPY, XAUUSD and BTCUSD, M15, H1 and H4, with two settings. The results were identical.
Alerts and Expert Advisors
One alert per signal, on the bar that gives it: pop-up, sound, push notification and e-mail, each switched separately. Nothing is sent while history loads, never twice for the same bar, and not in the Strategy Tester.
Buffers: 0 buy arrow, 1 sell arrow, 2 filter, 3 rising part of the line, 4 upper band, 5 lower band, 9 falling part, 10 flat part. The arrows sit 0.3 x ATR(14) below the low or above the high.
Questions
- Does it repaint? No. It uses closed bars only.
- Why does the line stay flat? Price has not moved further than the range away from it. That is the point of the filter: small moves do not change it.
- Does it work on gold and crypto? Yes, on any symbol with history.
Related products
- Range Filter Signals: the same indicator for MetaTrader 5.
- All my products on MQL5
If it helps your trading, a short review on this page helps other traders find it.
Questions: use the comments on this page or send me a message on MQL5.
Trading involves risk. The indicator shows a filtered trend. It does not predict the market, and past signals are no indication of future results.
