Average Range Indicator
Average Range is an indicator that calculate the average market volatility through measuring the distances beetween 2 choosen candle prices (Open, High, Low or Close) of the selected symbol, in the last N periods. For example it can shows that EURUSD D1 average distance between high and low (as a average of a single bar), in the last 100 periods has been 120 pips.
It is an alternative of the ATR indicator and it can be useful to place the stop loss or take profit or the trailing stop as a multiple of the volatility.
The indicator can also be set as an oscillator by reading open-close price distances, instead of high-low to read the volatility.
The Indicator runs in all Brokers using Metatrader 4 platform and can be used in an Expert Advisor or as a support of manual trading.
This indicator is composed by the OnWindow part:
- OnWindow: 2 buffers to read:
- Buffer 0: the Average Range value
- Buffer 1: the Average Range's SMA value.
The product is composed by:
- Average Range Indicator .ex4 format to read market volatility.
- A readme.txt file containig the set of information to start using the indicator step by step
- Instructions.pdf containing the explanation of the input parameters and how to read the indicator in an Expert Advisor