Unlocking the Constant Range Detector for MetaTrader 4: A Trader's Guide

Indicator: Constant Range Size

• Detects and displays the fixed size of the Constant Range.
• Quickly identify chart parameters to enhance your trading efficiency.

Note: This indicator is designed for use with Constant Range (Synthetic) Bars/Candles, not Standard Bars/Candles.

1. Constant Range Candles and Charts are often referred to as Range Bars (RB) and Range Bar Charts.
2. All Constant Range Bars/Candles maintain the same fixed range value from high to low.
3. Tip for beginners: A Constant Range offline chart is generated from scripts, indicators, or an EA running on an M1 chart.
4. There’s plenty of additional information available online.

Constant Range size calculation: High - Low.

Example: Gold M2 (offline): 1234.9 - 1232.4 = 2.5

Problem: No Ticks!

1. Often, the Constant Range Offline Chart is created by an EA.
2. EAs depend on ticks, and when markets are closed, there are no ticks.
3. Without ticks, Constant Range Charts won’t update with the new range sizes and other inputs.

Solution: Use a Tick Generator- FREE - HERE. This is also handy when testing in quiet or tick-scarce markets.

Parameters

• Text - CR;
• Font_Color - DodgerBlue;
• Font_Size - 11;
• Font_Bold - true;
• Left_Right - 25;
• Up_Down - 150;
• Corner - 1;