Professional range bar charting on a custom symbol chart
An Expert Advisor (EA) is used to create a RangeBar custom chart and provide real-time updates. It is an MT4 "offline" range bars chart equivalent.
- accurate pricing to the tick
- accurate timeline (no future date projections)
- very responsive charts
The simplicity of use - Attach the EA to any time-based chart that you wish to see Range Bars for, input your desired parameters and you are ready to go!
You can attach any MT5 compatible indicator or template to the custom chart to perform your technical analysis.
A free demo version can be downloaded from https://www.mql5.com/en/market/product/30299
Range bar settings include
NOTE: Custom symbols on MT5 are not directly tradable. This is by Metatrader5 design. If you want to place trades directly on the custom symbol generated by this product, you will either need a trade panel that offers this functionality or you will need to place trades on the tradable symbol that is used to create the custom chart. Alternatively, you can purchase the indicator version of this charting tool where you can place trades directly on the custom chart.
- Range bar size - Defines the size of the candle (high to low).
- Range bar calculation mode - ( pips / ticks/ points / ATR % / % )
- Show history for number of days - (0 to...) Historical data for the desired number of days will be displayed.
- ATR timeframe setting - for range bar size calculation based on percentage of the ATR indicator calculation on the selected timeframe.
- ATR period (1 to...) - ATR indicator's period setting for range bar size calculation based on percentage of the ATR indicator.
- Synchronize first bar's open on new day - Synchronize the first candle's open price with the open price of the daily candle (yes/no).
- Override default custom chart name with - (user define chart name).
- Apply template to custom chart - (user-defined template that will be applied to the range bar chart. If you have a "default" template saved, this will be applied by default).
- Create chart for backtesting only (yes/no)
- Show trade levels on chart (yes/no)
