Equiti

RangoFX Indicator MetaTrader 4 indicator

RangoFX Indicator MetaTrader 4 indicator

click photo for more information
RangoFX Indicator MetaTrader 4 indicator
The idea of RangoFX, which is based on the code of PowerbarsFX_Spread, but with significant differences in the algorithm it implements. The “timeframes” of PowerbarsFX have been completely removed and replaced with “price ranges“, hence RangoFX doesn’t have to deal with multiple timeframes at the same time which inherently brings the problem of “repainting”. If […]
1
3875

The idea of RangoFX, which is based on the code of PowerbarsFX_Spread, but with significant differences in the algorithm it implements.

The “timeframes” of PowerbarsFX have been completely removed and replaced with “price ranges“, hence RangoFX doesn’t have to deal with multiple timeframes at the same time which inherently brings the problem of “repainting”.

If you apply PowerbarsFX to a chart it does NOT repaint for as long as the platform is kept opened. But once you restart MT4 the indicator inevitably changes the displayed data. Unfortunately, we cannot do much about that because it is caused by an intrinsic limitation of the trading platform. I’ll try to explain why that happens with a simple example. Imagine an indicator applied to a M15 chart which deals with data coming from the timeframes M15 and H4 at the same time. When the time is 08:30:00 a new M15 candle is opened and the indicator generates a value which is based on 2 pieces of data:

1. the M15 candle that opened at 08:15:00 and closed at 08:29:59
2. the H4 candle that opened at 08:00:00 and was still forming itself at 08:29:59
The first piece of data can be provided by MT4 in case the platform is restarted, however, the second piece of data CANNOT, because once you restart the platform the only information available are OHLC (Open-High-Low-Close) data of each candle. There is no way of getting the value of an indicator associated to that H4 candle when the time was exactly 08:29:59. Once restarted the indicator will repaint itself and provide a value which is based on:

1. the value of the M15 candle that opened at 08:15:00
2. the value of the whole H4 candle that opened at 08:00:00
As you can understand the indicator is now “looking into the future” because the Close of the H4 candle (which happened at 11:59:59) is now taken into account. This is the classic problem affecting all multi-timeframes indicators than run on MT4.

On the other hand, RangoFX is only based on the data of a single timeframe. It is still able to perform a sort of “multi-timeframe” analysis because it explores data related to different “price ranges“, however it will never “look into the future” when the platform is restarted. That is a big relief for any trader who wants to develop a trading strategy based on the historical analysis provided by a technical indicator.
You’ll also be happy to know that the “price ranges” are completely dynamic and tailored to the historical volatility of each currency pair so that we can always compare “apple with apple”

Comments

Forex Sigma Frost Indicator

click photo for more information
Forex Sigma Frost Indicator
Forex Sigma Frost Indicator Forex Sigma Frost Indicator provides invaluable signals with great accuracy to make sure that you only take the best and most profitable trades for maximum profit! The new revolutionary signals generating technology used in this powerful trading tool, enable it to give super accurate and fast signals that result in consistent […]
1
1355

Forex scalping system for use with 5 minute charts 4expipsystem

click photo for more information
Forex scalping system for use with 5 minute charts 4expipsystem
4expipsystem is a forex trading system used in spread betting platforms. By following our simple forex scalping system you will be a better position to make profits in trending forex markets. In summary, 4expipsystem is : A set of trading rules to follow Explanation of indicators set-up and usage Examples of entry trade set-ups Help […]
1
1288

The Elite Swing Trader System

click photo for more information
The Elite Swing Trader System
The Elite Swing Trader gives you simple, an easy-to-follow system to make money in Swing trading. Forget about all complex indicators and tons of calculations. With the Elite Swing Trader you can have a complete and simple system that takes you from a complete newbie to a pro swing trader. It doesn’t matter if you […]
2
1410

Forex Divergence Dashboard Indicator

click photo for more information
Forex Divergence Dashboard Indicator
New Forex Divergence Dashboard Indicator Scans All Pairs and All Timeframes for The Highest-Probability Reversal Setups Based On Divergence… Using this dashboard is super easy, and it could help you find winning reversal trades in 5 minutes or less. As close as it gets to a complete, AUTOMATED trading solution: The indicator shows you accurate […]
2
1714

Forex Dark Raver Indicator

click photo for more information
Forex Dark Raver Indicator
Forex Dark Raver Indicator The indicator provides invaluable signals with great accuracy to make sure that you only take the best and most profitable trades for maximum profit so as recognize trending market with the ability to open transactions in line with big traders! This indicator never repaints, so you can be sure that none […]
1
2460

Arrow Hunter EA Forex Indicator to EA Converter

click photo for more information
Arrow Hunter EA Forex Indicator to EA Converter
Arrow Hunter EA can look for new signals which are displayed by any indicator on the chart. After signal detection the EA will open a trade in direction that is suggested by the indicator. Arrow Hunter EA can read the status on internal indicator buffers and execute new order using a simple “if lower than” […]
1
2088

Bull Bear FX Trading System

click photo for more information
Bull Bear FX Trading System
Bull Bear FX works on MetaTrader 4 one of the world’s most renown trading platforms in the Forex Market The system sets rules that formulate buys and sell signals automatically. This allows the trader to remove any emotion from his trading decisions. Bull Bear FX can run on any time frame but works optimally on […]
12
2046

Cynthia’s Simple Neon Breakout MT4 Trading

click photo for more information
Cynthia’s Simple Neon Breakout MT4 Trading
Since we want to catch the breakouts, Simple Neon Breakout trade only when all colors agree and the colored bar in the bottom momentum window has crossed the red zero line. The exit is when the colored bar in the bottom momentum window has crossed the red zero line in the opposite direction. If the […]
12
2152

Forex Chart Pattern Dashboard Indicator

click photo for more information
Forex Chart Pattern Dashboard Indicator
This Forex Chart Pattern Dashboard Indicator Scans ALL Currency Pairs & ALL Time-Frames For Powerful Price Breakout Patterns That Have The Highest Probability Of Winning… So everybody knows that chart patterns like Head and Shoulders or Triangle are particularly good at predicting breakouts. But the reality is there are not a lot of traders who […]
14
2329

Currency Power Strength System

click photo for more information
Currency Power Strength System
Here is why we think this currency power strength system is a MUST HAVE for any serious Forex trader wanting to find success: Currency pairs only move up and down when one currency is stronger (or weaker) then the other. Gauging currency strength on multiple time frames is not just recommended, it is needed! Find […]
13
3196

Trend Mystery

click photo for more information
Trend Mystery
You’re about to discover a brand-new way of stress-free trading with Trend Mystery that’s entirely different from anything you’ve tried before. You will love this if you’ve been struggling and you will love it even more if you’re already winning but wouldn’t mind squeezing more profits out of your winning strategies. You see what my […]
1
2810

Forex Venom Pro Trading Indicator

click photo for more information
Forex Venom Pro Trading Indicator
FX VENOM PRO is a brand-new trading formula designed for making maximum profit from major and minor trends. It provides the most advanced trading technology that allows you to take advantage of very accurate market predictions Venom Pro Trading Indicator has multiple built-in alert systems that promptly notify you of new trading opportunities within seconds. […]
1
3978

Swing Trade Pro

click photo for more information
Swing Trade Pro
Swing Trade Pro uses strict price action for entering trades. The EA will look for strong price movements and trend reversals and will monitor 4 timeframes at the same time. It will place maximum of 1 order on each timeframe. Each trade will have a predefined SL and TP but will also use various trade […]
1
2097

Forex Trend Signal Indicator

click photo for more information
Forex Trend Signal Indicator
Forex Trend Signal Indicator is an indicator set so powerful that it can get you in and out of the market with extreme precision! Now imagine not only trading one currency pair but taking that same set of indicators and duplicating it onto multiple charts to generate many more signals so that you can choose […]
1
3149

Scalping Detector Outstanding M1/M5 Scalper

click photo for more information
Scalping Detector Outstanding M1/M5 Scalper
I have a very special review for you first of all just let me say that this Scalping Detector is such a great product it has helped me tremendously. I made the right decision the best part is that you can reference and ask questions at any time to use this order today with confidence […]
1
2304

Forex Trading Signals for Professional Traders

click photo for more information
Forex Trading Signals for Professional Traders
ddmarkets was established in 2014. The forex signals are based on technical or fundamental strategies. The trading strategy is presented prior to initiating the signals in the market. The traders have the ability to analyze the strategy before opting for the signal when it is issued via email. The signals are well-documented since 2014 and […]
1
2387

Forex Power Indicator Strategy Training

click photo for more information
Forex Power Indicator Strategy Training
Free Access to the Forex Power Indicator Automatically pair the Strongest and Weakest Currencies to TRIPLE your chance of a Winning trade! The FX Power Indicator gives you the TRUE strength of each pair. Discover… Instantly know which Currencies are the strongest and weakest Take advantage of the most powerful and consistent trends across multiple […]
1
2095

How FX Delta will transform your trading

click photo for more information
How FX Delta will transform your trading
I am inviting you to try FX Delta, one of the best trading systems to ever hit the market. We all know that the ability to read and analyze markets accurately is a rare talent and many of us are not consistent in trading. Using FX Delta trading software, you will be able to identify […]
0
2829

POWERHOUSE Forex and Crypto indicator for ANY Symbol!

click photo for more information
POWERHOUSE Forex and Crypto indicator for ANY Symbol!
Forget about ALL the other Forex Indicators and Crypto indicator you’ve ever seen or used! The NEW “Buy/Sell/Trend Indicator” is BY FAR one of the VERY BEST Forex indicators ever created, not only revealing Trend Direction with AMAZING accuracy but plotting laser-targeted BUY/SELL Arrows directly on your Metatrader (MT4) chart. Works on ANY symbol that you […]
0
3206

Strike Trader Elite Trading System by Trading Strategy Guides

click photo for more information
Strike Trader Elite Trading System by Trading Strategy Guides
The Strike Trader Elite system works in three different modes. The scalping mode, the day trading mode, and the swing trading mode. All HIGHLY accurate and ALL will make you money, we guarantee it! These three modes cover EVERY trader’s trading style. And if you don’t have a trading style yet, not a problem, we […]
1
7270
load more posts