Move Ruler
- Indicators
-
Anna Makwana
MetaTrader tools and indicators that measure the odds on your own chart: how often levels were reached, how far days and sessions usually run, and what followed past signals. Every figure comes from the symbol’s own price history and uses closed bars only, so nothing repaints. Questions are welcome - Version: 1.0
A ruler that tells you whether a move is big. Drag it over any move and it shows the size in points and percent, the number of bars and the time it took, the value per lot, and how often past spans of the same number of bars on this symbol reached that far. On gold H1, a usual 5-bar span reached 4,782 points, and 1 span in 10 reached 10,089 points. Free, clear, and checked against a separate implementation.
What it does
A ruler line is placed over the recent move when you attach the indicator; drag either end to measure any move on the chart. A label at its end shows the move in points, the number of bars and how rare it is ("1 in 24"). The ruler's colour follows that: pink when fewer than 10% of past spans of the same length got as far, grey when more than half did, aqua in between. A small panel adds the move in percent, the time it took, the value per 1 lot in your account currency, the share of past spans that got as far, and the usual and the 1-in-10 reach for that many bars.
How it works
The measured move is compared with every past span of the same number of bars on this symbol and timeframe, the last 5000 by default. Each past span is measured by its full reach, the distance between its high and its low, so a move is never compared with something smaller than it could have been. Only finished bars are counted. The ruler stays where you put it when you change the timeframe.
How it was tested
Every number (the count of past spans, the share that got as far, the usual and the 1-in-10 reach) is recomputed by a separate implementation from the same broker data and matches it to the last decimal, on gold, EURUSD, US500 and USDJPY across H1, M15, H4 and D1, for spans from 1 to 150 bars and several history lengths.
Results and risks
On gold H1 over the last 5000 spans, a usual 5-bar span reached 4,782 points and 1 in 10 reached 10,089 points; a usual 20-bar span reached 9,481 points. On EURUSD M15, a usual 5-bar span reached 101 points and 1 in 10 reached 221 points. These describe past spans, not the future: a move can always go further than anything seen before, especially around major news.
Recommended use
Any symbol and any timeframe, from M1 to monthly, with at least 100 past spans of the length measured. Typical uses: judging whether a move is already large for the time it took, comparing a planned stop or target with how far price usually travels in that many bars, and measuring moves in points, percent and money at once.
Inputs
- Past spans compared: 5000 by default; 0 uses all history.
- First placement of the ruler: over the last 30 bars (5 to 500).
- Colours of the ruler, of rare moves and of common moves.
- Panel: show or hide, any chart corner, distance from the edges in pixels, and size (small, normal, large). One key (H by default) hides or shows everything the indicator draws.
- Hide the chart grid: on by default.
Risk notice
Trading forex, metals, indices and other leveraged products carries a high risk of loss. Move Ruler is an analysis tool: it does not give investment advice or trading recommendations, and it does not guarantee any result. All figures describe past data, and past behaviour does not guarantee future behaviour. You are responsible for your own trading decisions.
Support
Questions? Message me through MQL5 chat.
A full guide with pictures: https://www.mql5.com/en/blogs/post/778383
