Range Factor
July 28, 2022, 8:51 AM
Indicators
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It can be used with any forex trading systems / strategies for additional confirmation of trading entries or exits.
Go long if price is above upper band. Go short if price is below lower band.
//myRange = 0.02 //default Range (M1=0.01,M5=0.02,M15=0.04,M30=0.06,H1=0.08,H4=0.14,D1=0.4)
x = 100*(average[3,2](close)-average[34,2](close))*AverageTrueRange[3](close)
y = x/average[34,2](close)/AverageTrueRange[34](close)
z = (EXP(2*y)-1)/(EXP(2*y)+1)
Return z, myRange, -myRange
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Filename:
Range-Factor.itf
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102
Junior
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