Expected Price Range

Using historical statistics from the previous 6 months, the Expected Price Range (EPR) tool projects an expected range prices may attain.

The tool also accommodates for different days, and for different times of the day. For example, price activity on a Monday afternoon will inevitably be different than average price activity on a Friday afternoon just before the market closes. Moreover, price activity is going to vary by time of day, as different economies open and close throughout the day.

For example, an expected price range on a Wednesday at 12:00 pm is based on average price activity seen for Wednesday at 12:00 pm for the previous 6 months.

Settings

Currency - This setting is available for programmers, and allows them to write custom indicators or expert advisors using this data. For normal instances, leave blank.

TimeFrame - This setting too is for the use of programmers. For normal instances, leave it set to 0.

LevelLength - Lets you specify how many previous candles the EPR tool will overlay.

Files

Indicators Folder
IBFX – EPR.ex4

Download and Installation Process

Step 1: Download the setup file and double click on it. Follow on screen instructions.

Step 2: Select the tools you would like to install, click next. (Make sure to select your MT4 installation folder).

*This setup will not overwrite any previous version of the tools that was already open source*

*If you want the latest version of the open source tools, make sure to rename or delete them*