MR Range Breakouts 5
The indicator created for the "Masters of Risk" trading system.
- It shows the breakouts of the Range.
- Red rectangles show Sellers Ranges, where buyers remain locked in Range, and sellers win.
- Blue rectangles show Buyers Ranges, where sellers remain locked in the Range, and buyers win.
- Dashed rectangles show closed Ranges - the places where the price absorbed the volumes in the Ranges.
- The Yellow rectangle shows the new Range - it has not yet been determined whether this will be a Range of buyers or sellers. It shows the struggle between buyers and sellers in the Balance.
- The Yellow-Green rectangle shows a possible expansion of the new Range - it occurs at the exits of a new Range, in the areas of sell / buy limit barriers. It shows the struggle between the Big Players in the market, shows the potential expansion of a new range or the possible formation of a new range.
- The Red and Blue lines below and above the new Range show possible areas of Limit Barriers. "Limit Barrier is a structure that is designed to restrict price movement in any direction by constantly placing limit orders against the movement. Typically observed above and below accumulation (range, balance)."
- In combination with "MR Reversal Patterns" indicator you will be able to deepen your vision of the structure of the markets. It shows where the Locked in Range players stay.
- In combination with "MR Volume POC Levels" indicator you will be able to see how market volumes are being absorbed in key places.
- The indicator synchronizes the data from the time frames on which it works. Please wait a few seconds when needed...
- There may be slight differences between the figures, that are drawn on the chart of the time frame, that you selected in the indicator settings and the figures, that are drawn on the chart of the smaller time frames. This is related to the decomposition of the bar from the selected time frame to the smaller time frames. The bar of the selected time frame has a different structure of the smaller time frames. This is not a mistake !!! This is the option we have adopted to correctly determine the inputs and outputs of the ranges.
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For MetaTrader 4 https://www.mql5.com/en/market/product/63855