Range Bars Charting
Range Bars for MetaTrader 5 is a unique tool for conducting technical analysis directly on the charts, as the indicator is an overlay on the main chart and range bars are calculated using real tick data. The trader is able to place and modify orders directly on the range bar chart (even with the use of one-click trading)
Apart from range candles, the indicator also includes the most commonly used technical studies which are 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick volume or real volume), that can be customized according to the user's needs.
Several channel types can also be displayed directly on the range bar charts. These include Donchian Channel, Bollinger Bands and Super Trend.
The individual studies can be turned On/Off based on the trader's preference.
Range bar settings include
- Range bar size (in points)
- Enable ATR based bar size calculation (Yes/No) - user editable ATR period and percent of daily ATR value used for bar size calculation
- Show history for number of days - desired number of days (plus the current day) for the amount of history to process
- Synchronize first bar's open on a new day (true/false)
- Use padding Top/Bottom (0.0 - 1.0) - used to set the margins above and below the visible high & low of the visible range bar chart
- Show pivot levels - Show Monthly, Weekly and Daily pivot levels plus Daily R1, R2, R3 & S1, S2, S3 (calculated using Classic or Fibonacci method) as well as previous day's High, Low & Close levels with color definitions
- Pivot Point calculation method ( (H+L+C)/3 or (O+H+L+C)/4 )
- Show current bar's close projections (true/false)
- Pivot & support/resistance color definitions
- projection color settings
- Display current bar's open time along with current tick count (true/false)
- Current bar's open time info color (defines the color for the text displayed above)
- Alert on a new bar (true/false)
- Alert on reversal bar (true/false)
- Alert on MA crossover (true/false) - 1st MA (fast) & 2nd MA (slow) need to be enabled for the alert to work
- Display alert in Alert Window (true/false)
- Play sound on alert (true/false)
- Send alert via push notification to a smartphone (true/false)
- Use sound file for bullish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
- Use sound file for bearish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
- Show first MA.
- 1st MA period.
- 1st MA method.
- 1st MA apply to.
- 1st MA shift.
- Show second MA.
- 2nd MA period.
- 2nd MA method.
- 2nd MA apply to.
- 2nd MA shift.
- Show third MA.
- 3rd MA period.
- 3rd MA method.
- 3rd MA apply to.
- 3rd MA shift.
- Show Channel (None, Donchian Channel, Bollinger Bands, Super Trend).
- Donchian Channel period of averaging.
- Bollinger Bands apply to.
- Bollinger Bands period.
- Bollinger Bands deviations.
- Super Trend period.
- Super Trend multiplier.
- Display as bar chart (true/false).
- Shift objects with chart (true/false)
- Indicator used in EA via iCustom() (true/false) - Set this to true only when calling the indicator from an EA, another indicator or Script.
Fixed problem with brokers having an incorrect symbol specification info
Added various optimizations and improvements.
Added: 2 MA cross alert (MA1 = fastMA, MA2 = slowMA)
Changed: Alert settings
Added: Real tick volume (with Buy/Sell breakdown) is presented where available
Added: Classic or Fibonacci pivot lines plus support (S1,S2,S3) & resistance (R1, R2, R3) levels
Added: Previous sessions High, Low and Close levels
Added: Third moving average
Added: Volume weighted moving average method (using tick volume or real volume)
Added: Optional ATR based bar size calculation
Added: Optional display as bar chart (useful when using with Heiken Ashi indicator)
All known bugs in version 1.47 have been fixed
Added Bollinger Bands
Added Super Trend
Added: Display of bar size setting info on chart
Added: Extra padding space on top & bottom of chart
Added: Possibility of changing bar colors for gap filling bars
Added new input: Indicator used in EA by iCustom() (true/false) (Prevents incorrect shifting of objects on the chart when indicator used in an EA).
Added sending new bar/new reversal bar notifications to a smartphone via MetaTrader app.
Added Bollinger Bands technical indicator
Added RangeBar Data Window (press and hold left mouse button on a selected RangeBar)