Note: This indicator is intended for use with Constant Range Charts: Range Bars or Renko Boxes, not standard candles – bars
- Constant Range Candles and Charts are also referred to as Range Bars (RB) and Range Bar Charts.
- Constant Range Candles / Bars all have the same pip range value from high to low.
- Standard Candles / Bars all have different pip range values from high to low.
- The indicator computes the pip range of the 8th historical candle / bar from the current candle / bar.
- As each new candle / bar is formed the 8th historical candle becomes the next candle to the right.
- Because all range candles / bars have the same pip range value each successive 8th candle produces the same fixed range output.
- If the indicator is used with standard candles / bars the range output will not be fixed but will differ with each new candle / bar.
Constant Range (CR): CR 50
LCrudeAug12: 79.58 High – 79.08 Low (a random candle data chosen for illustration)
MT4 Indicator Download – Instructions
Constant Range Detector is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Constant Range Detector provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Constant Range Detector.mq4?
- Download Constant Range Detector.mq4
- Copy Constant Range Detector.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Constant Range Detector.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Constant Range Detector.mq4 is available on your Chart
How to remove Constant Range Detector.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: