DayRange Pro

DayRange Pro — Know Your Boundaries Before Price Does

Every trading session has a ceiling and a floor it statistically respects — most of the time. DayRange Pro is a precision MT5 indicator built to calculate, visualize, and alert you to that session's Expected Daily Range (EDR) before price gets there, not after.

Instead of guessing where today's high or low might form, DayRange Pro combines two of the most respected volatility and structure concepts in technical trading — the previous day's High/Low and the Average True Range (ATR) — into a single, clean projection. The result is a pair of dynamic boundary lines drawn directly on your chart, showing you exactly where price is statistically "stretched" for the day, updated automatically every session with zero manual work.

How It Works

DayRange Pro anchors its projection to the midpoint of the previous day's High and Low (or, if you prefer, the daily Open — fully configurable). From that anchor, it projects outward using the current Average True Range, scaled by an adjustable multiplier, to plot an Upper Boundary and a Lower Boundary. These represent the statistically expected extremes of the day's price action based on recent volatility. As the new trading day begins, the levels recalculate automatically using the freshest daily data — no restart, no manual redraw, no repainting of historical bars.

This isn't a lagging moving-average-based range tool bolted together from generic building blocks. The calculation logic is intentionally simple and transparent — anchor + ATR-scaled projection — which means the levels behave predictably and are easy to reason about, whether you're fading extremes, hunting breakouts, or managing risk around a known ceiling/floor.

Built for Real Trading Decisions, Not Just Chart Decoration

DayRange Pro isn't just a set of lines — it's a full situational awareness tool:

• Live Boundary Lines: Upper and lower range levels drawn as clean, fully customizable horizontal lines (color, style, width all adjustable) so they fit your chart theme instead of fighting it.
• On-Chart Price Labels: Each boundary is labeled with its exact price value, so you never have to hover or guess where the line sits.
• Professional Dashboard Panel: A structured, uncluttered on-chart panel displays your symbol, timeframe, upper/lower levels, the ATR value driving the calculation, the anchor price, total range width in pips, live current price, and a real-time "Position" readout that tells you — in plain language and color — whether price is currently above the upper boundary, below the lower boundary, or sitting inside the range with a live percentage showing exactly how deep.
• Triple-Channel Alerts: The moment price touches either boundary, DayRange Pro can fire a Push Notification straight to your phone, send you a full Email alert, and play an audible in-terminal Sound alert — all independently toggleable, so you get exactly the notification style you want, whether you're at your desk or away from it.
• Smart Cooldown System: A built-in per-level cooldown timer prevents alert spam — you get notified when a level is touched, not thirty times in the same five minutes while price chops around it.

Why Traders Use Range-Based Levels

Expected daily range concepts are used across prop trading desks, institutional volatility models, and retail breakout/reversion systems alike, because they answer one of the most practical questions in trading: "How far can price realistically move today, and where does that put me at risk of chasing an already-stretched move?" Whether your style is range-fading, breakout confirmation, stop-placement, or simply avoiding entries into exhausted price zones, having a dynamically updating, ATR-informed boundary on your chart turns a vague feeling of "price looks stretched" into a precise, visible, alertable level.

Who This Is For

• Intraday and swing traders who want objective, non-repainting boundary levels instead of eyeballing prior highs and lows
• Range and mean-reversion traders looking to identify statistically extended price zones
• Breakout traders who want confirmation that price has moved beyond a volatility-adjusted threshold, not just a raw prior high/low
• Multi-symbol traders (Forex, Metals, Indices, Crypto CFDs) who need a lightweight tool that performs consistently across instruments without reconfiguration
• Traders who manage multiple charts and need to be alerted the moment price reaches a key level, without staring at the screen all day

Full Customization, Zero Guesswork

Every visual element is configurable — line colors, line style, line width, label visibility, label color and font size, dashboard position (any chart corner), dashboard color scheme, and font sizing — so DayRange Pro fits naturally into any chart setup, from a minimal dark theme to a fully branded prop-firm layout. Alert channels are independently switchable, cooldown duration is adjustable in minutes, and the ATR period and multiplier are fully in your control, letting you tighten the range for scalping or widen it for swing-level context.

Reliability You Can Trust

DayRange Pro pulls its ATR data directly from the Daily timeframe regardless of which chart timeframe you're viewing, so your range levels stay consistent whether you're watching an M5 scalping chart or an H4 swing chart. Calculations only run on confirmed daily data — there is no repainting of the boundary levels once a session is underway, so the levels you plan around in the morning are the same levels still valid in the afternoon.

What You Get

• A complete Expected Daily Range indicator with upper/lower boundary plotting
• A live, professional dashboard panel with full session context at a glance
• Push, Email, and Sound alerting with independent toggles and cooldown protection
• Full visual customization for lines, labels, and dashboard
• Clean, lightweight performance suitable for running across multiple charts simultaneously

Stop reacting to price after it's already broken through where it "shouldn't" have gone. With DayRange Pro, you'll see the boundary before price gets there — and know the instant it does.