Cardwell Range

Cardwell Range Analyze reads trend from the range the RSI holds, not from a fixed overbought or oversold line. Andrew Cardwell's observation was that in a genuine uptrend the RSI oscillates inside a higher band and rarely breaks below it, while in a downtrend it works a lower band and rarely breaks above — so the band the RSI is respecting is itself the trend signal. This indicator turns that reading into a confirmed regime, colours the chart by it, and projects a full ATR trade the moment the regime flips. It is an indicator for chart analysis only: it draws on the chart, it does not place, modify or close trades, it does not send orders, and it does not manage positions or accounts.

It pairs a trend filter with the RSI range so the two have to agree, adds a confirmation delay so a single bar cannot flip the state, and offers optional higher-timeframe and ADX filters for traders who want fewer, cleaner signals. Native MQL5, no DLLs, closed-bar signals, on forex, gold and metals, indices and crypto across any timeframe.

=== HOW IT WORKS ===

Two conditions define the regime, and both must hold. First the trend filter: price is compared to a moving average, giving an up or a down bias. Second the RSI range: the RSI must sit inside its bull band (40 to 80 by default) for a bull reading, or inside its bear band (20 to 60) for a bear reading. A bull regime needs an up bias and the RSI in the bull band; a bear regime needs a down bias and the RSI in the bear band. When the two disagree, the regime is neutral.

A raw reading is not enough. The regime must hold for a set number of closed bars — the confirmation delay — before it is accepted, which filters out the one-bar pokes that make range reading noisy. Only when the accepted regime changes does the indicator treat it as a signal.

On that flip it builds the trade from volatility, not from guesswork. The entry is taken at the breakout close, the stop is placed an ATR multiple away, and three targets are set at further ATR multiples, so every level scales with the instrument and every target is a clean multiple of the entry-to-stop risk. The risk and reward space is shaded so the geometry of the setup is readable at a glance, and dotted target lines with price tags trail to the right of the chart.

Two optional filters tighten the signal further. Higher-timeframe confirmation requires the same Cardwell regime to agree on a larger timeframe before a signal is allowed, read from closed higher-timeframe bars so it never repaints. The chop filter requires ADX to be above a floor, so signals only fire when the market is actually trending rather than grinding sideways.

=== WHAT IS INCLUDED ===

=== HOW TO READ IT ===

Start with the regime. Bullish means price is above its trend filter and the RSI is working its higher band — the condition Cardwell associated with trends that continue. Bearish is the mirror. Neutral means the trend and the RSI range disagree, which is exactly when range reading is least reliable, so the tool stays out of the way.

Treat a flip as the event, not the RSI level. Because the regime has to clear the confirmation delay, a printed signal is a range that has already proven itself for several bars, not a single spike across a line. When it fires, the projection lays out the trade for you: the stop is where the idea is wrong, and the three targets are graded multiples of that risk, so you can size and scale without measuring.

Use the filters to match the market to your style. Turn on HTF confirmation when you only want to trade in the direction of the larger trend, and turn on the chop filter when you want to sit out quiet, directionless sessions. Both simply gate the signal; the regime read itself is always on the chart.

=== INPUTS ===

The colours of every element — signals, lines, zones and candles — are exposed as inputs so the tool can be matched to any chart.

=== GOOD TO KNOW ===

• Closed-bar signals — the regime is confirmed on closed bars and signals fire on the bar close, so a printed arrow does not move. The forming bar updates live, so the dashboard and panel read the current bar while the candle is still open.
• Indicator, not an EA — Cardwell Range Analyze analyses and draws. It does not place, modify or close orders; the projection is guidance you act on yourself.
• Platform — MetaTrader 5, any symbol and timeframe. Rendered through the built-in Canvas, with no DLLs. Everything overlays the price chart; no sub-window is used.
• Light & dark — the sun/moon icon re-themes the panel and the chart together. Your original chart colours are saved on attach and restored when you remove the indicator.
• Tune it to the market — widen the confirmation delay or add the HTF and ADX filters for fewer, stronger signals; narrow them for a faster, more active read.