Constant Range Detector-Forex trading Indicators/Strategies/Codings
Constant Range (CR): CR 50
LCrudeAug12: 79.58 High – 79.08 Low (a random candle data chosen for illustration)
https://rapidshare.com/files/125619133/CR-2.jpg
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.
Note: Be aware that Data Window will return High – Low subtraction values of 150 for 15 pips, 200 for 20 pips etc, on 3 & 5 digit pricing.
Constant Range Chart: CR 10
WTI-Oil: 200 LWMA – Williams Aligator (click chart to enlarge)
https://rapidshare.com/files/171905574/CR-4.jpg
https://rapidshare.com/files/591437621/Constant Range Detector-rev1.mq4
https://rapidshare.com/files/1235161786/CR-0-Blank.zip