Well done Igorad, I have applied the indicator to charts and checked for accuracy, I found no errors. It is 100% marking the correct candles.
My only complaint is that it doesn't 'look pretty' when applied to a candlestick chart.
Would it be possible reconfigure so that the whole candle can be re-coloured instead of just centre bar? If it's too much trouble I understand. Cheers.

Hi Igorad,
unfortunately I have found a couple of bugs with the Custom Indicator you posted.

Firstly it only works on EUR/USD, GBP/USD, USD/CHF and does not not work on many others such as all JPY crosses, AUD/USD,NZD/USD, EUR/GBP. As far as I can tell, it does not display anything if the rate is <1.0 or >2.0. It maybe something else, but this appears to hold true in all the crosses I tried it with.

Secondly there is an issue with the indicator painting a candle if it meets the paramaters 'as it is forming', however if the candle subsequently changes while forming such that it no longer meets the paramaters, it still remains painted. The candle can close and still remain painted when it should not be. Changing to another timeframe and then back again to the timeframe you were using fixes the candles that are painted incorrectly, but this would need to be done at the close of every candle.

Cheers, Pye.

I've fixed almost all your issues.
So, try to test new version.

Concerning different cross pairs:
It's really strange, because I have no problem with any pairs.
Who is your broker?

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Attached Files

RangeBars_v2.mq4 (3.4 KB, 39 views)

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Good job with the painting & un-painting issue, and the option to paint whole candle is really good but I still have the issue if it not working on the pairs mentioned previously. Alpari is my broker. I have tried and tried it just doesn't work for some reason. It's crazy!

Attached Images

AU.US No Paint.jpg (221.5 KB, 212 views)

Option "Chart on foreground" should be unchecked (menu "Charts"-> "Properties" or press F8, tab "Common").

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Duh!! I should have figured that one out. Thanx heaps.

İs it possible for coders to convert RSI of Volatility indicator from Tradestation to Metatrader?I think it looks quite useful to detect the overbought oversold market with this indicator. Trader.Online.pl® - TradeStation™ Zone - RSI of Volatility. Thanks in advance

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t-i-RSI_of_Volatility.gif (19.8 KB, 134 views)

I have a small program (profitable in TradeStation) that is only 8-10 lines of code. Can someone help me convert it to MetaTrader?


I want to see if it works in MetaTrader. If so, I'm switching from TS


Thanks!

pls post ur TS code here ..
if ur program is priftable, someone will help u to convert it .

thank you

It's definitely profitable. It will be even more profitable when I don't have to pay commissions when using MetaTrader. :-) I'd really appreciate it if someone can please post the conversion. it's only 8 lines of code:

Inputs: avgLength(30), atrLength(30); //just variables
Vars: upBand(0), dnBand(0), movAvgVal(0), movAvgVal2(0); //more variables

movAvgVal = average(((High + Low + Close)/3),30);
movAvgVal2 = average(((High + Low + Close)/3),20);
upBand = movAvgVal + AvgTrueRange(atrLength);
dnBand = movAvgVal - AvgTrueRAnge(atrLength);

if (movAvgVal > movAvgVal[1]) then Buy next bar at upBand stop;
if (movAvgVal < movAvgVal[1]) then Sell Short next bar at dnBand stop;

If(MarketPosition = 1) then Sell next bar at movAvgVal2 stop; //if long
If(MarketPosition = -1) then Buy To Cover next bar at movAvgVal2 stop; //if short



explanation of what it does:

There are two moving averages: 1) average of high/low/lose, and 2)
moving averge of the true ranges.

In this system, the direction of the moving average and the penetration of
the bands is the entry technique. The liquidation of the position at the moving average is the exit. This is a long term approach.