T S R) Daily Range Calculator .mq4
T S R) Daily Range Calculator .mq4 is an indicator for MetaTrader 4 from the Old Kings collection. As the name suggests, the idea behind it is the daily high / low range. Its source code uses moving averages. It shows an on-chart panel. It has 4 settings, for example Risk to Reward ratio (default 3.0), First av (default 5) and Second av (default 10). 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 T S R) Daily Range Calculator .mq4
T S R) Daily Range Calculator .mq4 is an indicator for MetaTrader 4 based on Moving Average. It shows several symbols in one panel. It has 4 settings, such as Risk to reward ratio, First av and Second av. MQL source code included.
Files in the download: #(T_S_R)-Daily Range Calculator .mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Risk to reward ratio | 3.0 | Risk per trade (percent of balance) |
| First av | 5 | |
| Second av | 10 | |
| Third av | 20 |
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 · Moving Average · MT4 Indicator · MQL4 Source Code