Oilveric Range Pro
- Indicators
- Version: 1.31
- Activations: 5
If you trade breakouts, you already know the pain of getting trapped in a false move. You wait for the morning range to form, jump in on the break, and the market instantly reverses.
I got tired of dealing with that, so I built **Oilveric Range Pro**.
This is the exact indicator I use every day as the core of my own manual trading system. I originally designed the logic to have strict enough risk controls for Prop Firm challenges, but it works just as perfectly for everyday manual traders who want to protect their capital.
*(Note: If you are using this to take a Prop Firm challenge, my personal advice is to use the built-in calculator and keep your risk strictly at 1% or less per trade.)*
### ⚠️ A Quick Heads-Up on News:
Breakouts are heavily manipulated around macroeconomic events. Since this indicator is designed to assist your manual trading, **please always check an economic calendar or use a News Filter.** Do not blindly trade breakouts directly into Red Folder (High-Impact) news releases.
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### HOW IT WORKS & THE "EXHAUSTION FILTER"
Instead of just drawing a box around the morning hours, I built a logic called the **Exhaustion Filter**.
Think of the market like a coiled spring. If the morning range is tight, the spring has a lot of stored energy (Safe to trade). But if the morning range is already too wide, the market has spent its energy. When that happens, the indicator turns the range data **RED (Exhausted)** and warns you to sit on your hands and skip trading for the day.
### MY 6 CORE PAIRS:
I personally trade this system almost exclusively on 6 pairs: **GOLD (XAUUSD), EURUSD, GBPUSD, USDJPY, EURJPY, and GBPJPY**.
I have programmed the indicator to automatically detect what chart it is on and apply my exact personal Exhaustion Limits for Gold, JPY pairs, USD pairs, or Others.
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### KEY FEATURES:
* **Exhaustion Filter (Max Box Size):** Keeps you out of the market on days when the Asian/Pre-London range is too wide.
* **Built-in Risk Calculator:** Input your Risk %, and the dashboard instantly calculates your recommended Lot Size based on the range width or your custom Stop Loss.
* **Clean Chart Toggle:** A beautiful on-chart dashboard with a single-click "Hide Visuals" button. When you want a clean chart to do your own price action markup, just click it.
* **Full Alert System:** PC Popup, Mobile MT5 Push, and Email alerts. It alerts you when the range box is completed (at 07:00 server time) and when the price actually breaks out.
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### INPUT PARAMETERS:
* **=== 1. TIME SETTINGS ===**
* `Range Start / End Time` (Default: 00:00 - 06:59) - The Asian accumulation phase.
* `Trading Stop Time` (Default 20:00) - Stops drawing lines late in the day to prevent low-volume entries.
* **=== 2. EXHAUSTION LIMITS ===** (My Personal Baseline Settings)
* `Max Range - GOLD` (Default: 1800 Pts / $18)
* `Max Range - JPY Pairs` (Default: 600 Pts / 60 Pips)
* `Max Range - USD Pairs` (Default: 450 Pts / 45 Pips)
* `Max Range - Other Pairs` (Default: 500 Pts / 50 Pips)
* **=== 3. RISK CALCULATOR ===**
* `Risk per Trade (%)` - Set your risk (e.g., 1.0 for 1%).
* `Custom Stop Loss` - Leave at 0 to let the indicator calculate Lot Size based on the box width, or input a fixed SL in points.
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*I built this to stop getting caught in exhaustion traps and to keep my daily trading disciplined. I hope it helps your trading as much as it helped mine.*
