RangeLens
- Indicateurs
- Version: 1.0
- Activations: 10
RangeLens - Asian Session Range and London Breakout for MT5
RangeLens draws the Asian session range every day and tells you when price breaks out of it, with a complete trade plan and real statistics of the last days on your own chart. Works on gold, forex and indices, with any broker.
The Asian range
- During the Asian session gold and many currency pairs move in a tight range. When London opens, price often leaves that range with strength.
- RangeLens draws the range box of every day with its high, low, middle line and size. Hours are set in GMT (default 00:00-07:00) and the broker's server offset is detected automatically.
Breakout signal
- Arrow on the first candle that CLOSES outside the range during the breakout window (default 5 hours after the range end). Closed candles only: no repaint.
- Optional extra distance beyond the range to avoid false breakouts.
Trade plan
- Entry at the close of the breakout candle.
- Stop loss at the opposite side of the range or at the middle (your choice).
- Target 1 and target 2 as multiples of the risk (default 1R and 2R).
- Lot size for the risk you choose (for example 1% of the balance), calculated with your broker's contract values.
Real statistics of your chart
- For the last days (default 30) RangeLens checks every range on your symbol: how many days broke out, in which direction, how often target 1 and target 2 were reached before the stop, and the average range size.
- You see in numbers whether the breakout works on the symbol you trade, before you risk money.
Range filters
- Skip the days with a range too small or too large compared to the daily ATR: the breakouts of very wide ranges are often late, very tight ranges often give false breakouts.
Alerts
- Range ready and breakout: popup, push notification to your phone and e-mail.
Panel
- Today's status in plain words (forming, ready, breakout up / down, no breakout), today's high, low and size, the trade plan and the statistics. One-click switches for ranges, signals, plan and alerts, minimize button, light and dark theme.
Suggested use
- Gold and forex on M5 or M15, range 00-07 GMT, breakout window 5 hours (London morning).
- Check the statistics: use the breakout on the symbols where target 1 is reached before the stop most of the time.
Inputs
Asian range: start and end hour (GMT), days drawn, colour. Breakout: window in hours, extra distance, stop loss mode, target 1 and 2 (R), risk %. Range filters: minimum and maximum size in daily ATR. Statistics: days. Alerts: popup, push, e-mail. Display: panel, theme, size.
Free version: RangeLens Lite (range boxes and status).
Notes
RangeLens is an indicator: it does not open trades. Past statistics do not guarantee future results. Trading involves risk.
