MaxRange Indicator For MT4 Intro



Table Of Contents:

  1. MaxRange Indicator For MT4 Intro
  2. What is the difference?
  3. Trading by MaxRange Indicator For MT4
  4. Pros of MaxRange Indicator For MT4
  5. Cons of MaxRange Indicator For MT4
  6. General Advice While Using MaxRange Indicator For MT4

In this introduction, we will give you a summary on the MaxRange Indicator For MT4 indicator, this indicator helps you to see the highs and lows of a specific period that you choose, for example, like the picture that got mentioned above which is for the pair of Great British Pound versus United States Dollar, it shows the maximum range that happened between the periods we specified. Which is being defined based on the number of bars you want, so for example, if you need to specify it on 5 hours, you will go to the hourly frame and choose five bars, if you need a daily range you can select 24 hourly bars or six of 4 hours bars or one day bar (candle), etc.

FREE MaxRange Indicator

Download the FREE MaxRange Indicator for MT4.

To receive my email 100% sure: 
Put my email on your whitelist!

 

Partially Automated Trading Besides Your Day Job

Alerts In Real-Time When Divergences Occur

 

Inside this article, we will care about revealing the MaxRange Indicator For MT4 indicator features to you, also to show you if there’s any similar indicator, or indicators to it and explaining both. Still, we will show you the difference between them, furthermore we will show you the MaxRange Indicator For MT4 pros, cons, and best ways to use it to help you while trading by your strategy that you rely on, focus on this article to learn something new today, and to have some further advice to consider doing while using such indicator.

 

What is the difference?

Looking at the MaxRange Indicator For MT4 and the difference between it and a similar indicator for it, which is named GG-TimeBox Indicator For MT4, we see that the MaxRange Indicator For MT4 main job is to get for you the highs and lows of a specific period you choose. That’s useful a little bit, so for example, if you like to trade in London time only or the Asian time, you can specify it to show you this period’s highs and lows only, so that you may buy or sell on them, etc. We will explain the trading part entirely in the trading heading, back to the GG-TimeBox Indicator For MT4, also it does a similar thing to the MaxRange Indicator For MT4, which is coloring or drawing a box to you in a different color than the chart background for a specific timeframe you choose and can get viewed on another time frame, for example, you can choose to draw for you the last highs or lows or the Doji candle that it finds on the four hours time frame and then you can decrease the timeframe of your chart to see that candle details to learn more how it got formed. You can have your decision to decide if it’s a weak or fake Doji and can trade on it or not, anyways, we have a full article about the GG-TimeBox Indicator For MT4, you can check it in our blog if you’re interested to learn more about it. Now, let us move on and show you the code of the MaxRange Indicator For MT4:

Don’t worry! If you want to see the full system and interesting in reading all of it, it’s merged in the article, you will find it in the folder that includes the indicator, once you download it, you’ll find all the files related to the indicator and its code inside the zip after you extract it.

And now, here you can see all the parameters of the MaxRange Indicator For MT4:

At that point you are free to set the MaxRange Indicator For MT4 parameters and modify it as you wish, the stated settings are the random settings, and there’s no proof that those casual settings are the best, because you should specify the settings based on the periods you need to see its highs and lows to trade on them. So, it’s recommended to set it on your preference, and now let us continue learning you more about the trading benefits using that indicator, and show to you the cons and pros of it based on our view giving you a general advises regarding it.

Trading by MaxRange Indicator For MT4

If you are interested in trading using the MaxRange Indicator For MT4 to help you, it may be the right decision. Thus we will explain to you here some trading ideas that you can use for that, for example, if you like to trade in the London time, the American time, or even the Asian time based on the highs and lows breaking or coming back to them, you can set the indicator to show you a specific period which for example may be the last trading session highs and lows. You can trade on it in your lovely session on its highs and lows touching as support or resistance areas or targeting that the market may break them, you need to do that if you have an experienced trading on the sessions breaking, that MaxRange Indicator For MT4, will help you much to identify these areas fast instead of doing it manually, you also can use these areas as pivot point that the market may back to touch these areas before moving somewhere else, etc. However, all the ideas we just said you couldn’t just try it if you don’t have enough experience. Make sure that this is all your responsibility, so we recommend to study these ideas more and more, add on them, filter them, and the most important that you may need to learn about the fake break out, so you just don’t enter any trade once you see the areas broken as it may be a false break out. The market will bounce again to its areas instantly.

Here is an example for the indicator With trading style:

This picture is just an example or a small overview of the idea we just said in the trading section; you may need to develop it to be more accurate.

Disclaimer: this disclaimer is essential to read, as we explain here comes from our mind and based on the extensive market experience we have. In the end, we don’t use that indicator. Still, we know that there are people out there love to trade using the indicators, so we are trying to gather to you as much as we can inform about all the market indicators, so you can see many options and that our ideas may add something to you, but everything you do must come from your mind a hundred percent and after a long testing period.

Pros of MaxRange Indicator For MT4

The advantages we see for the MaxRange Indicator For MT4 is as we just explained that it helps you to identify specific lows and highs based on the periods you need to check what’s the highest price and the lowest one that it reached during that period. You specify these periods on bars/candles bases, on any timeframe you wish to look at it through, or any trading session, it’s all up to you and to your parameters that you will set for the indicator.

Cons of MaxRange Indicator For MT4

For now, we don’t see cons for the MaxRange Indicator For MT4 based on the explanations we just did, so if you notice any disadvantages for the indicator, please let us know, so we can try to solve that cons and come up with new ideas to solve it.

General Advice While Using MaxRange Indicator For MT4

You need to know what you’re doing correctly and why the bars or time range you have specified should get chosen to trade on it? Also, you need to be sure how you will sell or buy on it, and your decision about trading on these areas in the news time, be noted that the general advice is the most crucial part in the article, you have to be sure of what you’re doing not to lose your funds.

 

About Me

I'm Mike Semlitsch the owner of PerfectTrendSystem.com. My trading career started in 2007. Since 2013 I have helped thousands of traders to take their trading to the next level. Many of them are now constantly profitable traders. 

The following performance was achieved by me while trading live in front of hundreds of my clients:

Connect With Me:  

Results From 5 Months!
This service starts soon! Be the first who get's notified when it begins!

This FREE Indicator Can Transform
Your Trading!

FREE Indicator + Telegram Group


Request the Ultimate Double Top/Bottom Indicator which is used by 10,000+ traders.