Avg Daily Range 3
This Old Kings indicator for MetaTrader 4 is called Avg Daily Range 3. Judging by its name, it is built around the daily high / low range. It shows an on-chart panel. It has 1 setting, for example Risk to Reward ratio (default 3.0). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Avg Daily Range 3
Avg Daily Range 3 is an indicator for MetaTrader 4. It shows several symbols in one panel. It has 1 setting, such as Risk to reward ratio. MQL source code included.
Files in the download: Avg Daily Range.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Risk to reward ratio | 3.0 | Risk per trade (percent of balance) |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Dashboards & Scanners · MT4 Indicator · MQL4 Source Code