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Live Range Observer

About LiveRange Observer 

LiveRange Observer is a technical indicator that is used to identify the bullish / bearish state of the market. It also shows the suitable bid / ask price that you may use as reference in the trading.

This indicator uses MFI (Money Flow Index) and ATR (Average True Range) indicators internally to perform the calculations.

Indicator Inputs

  • Period: The period to calculate ATR and MFI. I use this input value to calculate ATR and twice this value to calculate MFI.
  • MFI Threshold: The MFI value to identify the strong trend. 
  • Normalize or Not:  Use this flag to get the real price or the smoothed price.

Using in an Expert Advisor

You may want to use this indicator as a reference in your own Expert Advisor. You may use the "iCustom" function in your code to call the indicator.

For example:

iLiveRange = iCustom(NULL, 0, "LiveRange", 4, 80.0, false);

There are four buffers in the indicator: the data buffer, the color index buffer and two calculation buffers that contain ATR and MFI values. 

If you have any questions regarding the indicator, please write me a message on the MQL5.community or send an email at "jchen#livepim.com".

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