Indicator to show pip difference between high and low | Forex Factory

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Indicator to show pip difference between high and low

  • #1
  • First Post: Feb 5, 2014 2:17am Feb 5, 2014 2:17am
Can anyone tell me an Indicator name or Indicator to tell PIPS difference between HIGH and LOW on a Candlestick.
  • #2
  • Feb 5, 2014 2:27am Feb 5, 2014 2:27am
Quoting farhaj
Can anyone tell me an Indicator name or Indicator to tell PIPS difference between HIGH and LOW on a Candlestick.
ATR period 1
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Feb 5, 2014 3:09am Feb 5, 2014 3:09am
Here's a basic one I made a while back.
Attached File(s)
File Type: mq4 Range.mq4   2 KB | 1,540 downloads
  • #4
  • Feb 5, 2014 3:35am Feb 5, 2014 3:35am
I want to place it in etoro charts.. how can I do that
  • #5
  • Feb 5, 2014 3:37am Feb 5, 2014 3:37am
Quoting farhaj
I want to place it in etoro charts.. how can I do that
Do you have a standard ATR indicator in your platform ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #6
  • Feb 5, 2014 6:16am Feb 5, 2014 6:16am
Quoting farhaj
I want to place it in etoro charts.. how can I do that
Sorry, I don't know anything about etoro.
  • #7
  • Feb 7, 2014 1:35pm Feb 7, 2014 1:35pm
yes ATR is their and avaiable.
  • #8
  • Feb 7, 2014 5:54pm Feb 7, 2014 5:54pm
Quoting farhaj
yes ATR is their and avaiable.
So apply ATR set with a period of 1. It will display the range of each candle.
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Feb 8, 2014 2:17am Feb 8, 2014 2:17am
will it tell No. of pips from High to Low in that Candle..
  • #10
  • Feb 8, 2014 2:20am Feb 8, 2014 2:20am
Quoting farhaj
will it tell No. of pips from High to Low in that Candle..
Yes. The ATR returned value for the candle is the difference between high and low ... assuming that you set the period = 1.
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Feb 8, 2014 7:44am Feb 8, 2014 7:44am
NO .. I did it and also set the Period to 1.. but a wave shows up below the Forex chart... and not a PIP figure shows up..
  • #12
  • Feb 8, 2014 8:14am Feb 8, 2014 8:14am
Quoting farhaj
NO .. I did it and also set the Period to 1.. but a wave shows up below the Forex chart... and not a PIP figure shows up..
Of course that ATR show you pip range. You may have to learn the basics before trading ...

ATR = Average True Range

Period 1 = the range of the last candle

Period 2 = the average range of the last 2 candles

... and so on ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #13
  • Feb 8, 2014 8:50pm Feb 8, 2014 8:50pm
Note that the ATR isn't a straight High - Low calculation. It also takes into consideration any gaps that appear, hence the name of "Average True Range".

So if you're just after the size of the bars and nothing else, then the ATR may not give you exactly what you're after. In forex price doesn't gap as much as other markets so the discrepancy may not be such an issue, but that totally depends on why you're after it to begin with.
  • #14
  • Last Post: Feb 9, 2014 3:14am Feb 9, 2014 3:14am
No I want the Calculation that is associated with it. HIgh , Low and gaps//
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