Range Bar Chart

MetaTrader 4 Range Bar Chart indicator

Range bar charts with equal size bars that can possibly have shadows can be created using this indicator. Data on the range bar chart are distributed by the bar size, rather than by the time. Each bar represents the price movement instead of time period. It works simple – the bar is not drawn as long as the price does not move. The size of the bar can be set in the settings by changing the "Size" parameter value. You can add indicators, advisers and scripts to the resulting chart. You get the completely operational chart which can be processed just like a regular one.

The Range Bar Chart indicator is not only history based, but also build online. At the same time the data is updated synchronously with the basic chart with no delays.

You can simultaneously create several charts each with the required bar size.

Setup
• File "Range-Bar-Chart" put in <data_folder>\MQL4\Indicators terminal MT4.
You can find the data folder (<data_folder>) for each copy of MetaTrader 4 terminal on your computer via the terminal menu or in MetaEditor: File - Open Data Folder.

Launch
• Open the "Navigator" window.
• Drag the indicator of the desired currency pair (M1 timeframe or larger, depending on the "Size" parameter value) onto the chart.
• Open the resulting chart by clicking the corresponding "Open Chart" button.