Candle Range Theory Levels
- 指标
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Burak Koc
VexAlgo builds rule-based Expert Advisors for MetaTrader 5, with clear rules, defined risk and honest explanations. No martingale, no grid, no promises. Trading involves a risk of loss. Past results do not predict future results. - 版本: 1.0
- 激活: 10
Candle Range Theory Levels draws the range of each closed higher timeframe candle (high, low and 50%) over the candle that follows it, and marks the moments when that next candle takes one side of the range and closes back inside.
What it shows
- High, low and midpoint of every closed candle of the chosen timeframe (H4 by default), projected over the next candle.
- A mark when the following candle trades above the previous high and closes back inside the range, or below the previous low and closes back inside.
- Optional alert when a new mark appears.
How it works
- Only closed candles are used. A mark is drawn once the candle that took the level has closed, so marks do not change afterwards.
- Works on any symbol. Use a chart timeframe lower than the range timeframe (for example M5 or M15 with H4 ranges).
Inputs
- Range timeframe, number of ranges, show 50% level.
- Colors for high, low, midpoint and marks.
- Alerts on or off.
Limits. This is a visual tool. It does not predict prices, does not place trades and gives no guarantee of results. Levels and marks describe past price action only. Trading carries a risk of loss.
Other tools by the same author
- Session Liquidity Levels - Asian range, sweeps, midnight open, PDH/PDL and session VWAP.
- HTF Opens and PO3 Candles - H1/H4/D1/W1 opens and HTF candles.
- STDV Range Projections - range projections of a candle or session.
- Session Volume Profile POC VA - session volume profile with POC and value area.
- Rejection Blocks Zones - long-wick zones at swing highs and lows.
