DR IDR Range Indicator PRO

Overview of DR IDR Range Indicator PRO

The DR IDR Range Indicator PRO is a sophisticated tool designed for MetaTrader 5 that plots various ranges such as ADR (Average Daily Range), ODR (Outside Daily Range), and RDR (Regular Daily Range) for a specified number of past days. This indicator is particularly beneficial for backtesting as it displays ranges for all calculated days, not just the most recent sessions.

Key Features

• Plots ADR, ODR, and RDR ranges for historical data.
• Calculates the success rate of the ranges for the shown days.
• Displays visually integrated median retracement levels directly on the chart.
• Excludes neutral days to generate more realistic statistics.
• Calculates statistics on up to three different day periods set by the user.

Advanced Statistics

• Fully customizable advanced statistics to base your trades on.
• Ability to generate more realistic stats by excluding neutral days.
• Calculates statistics on up to three different day periods all set by the user.

Visual Integration

• Shows visually integrated median retracement levels directly on the chart.
• Median retracement levels are calculated based on chart data.

Future Enhancements

• Median extension.
• Retirement setup success rate.
• Additional user-requested features.

How It Works

• A session is registered as false when it confirms to the upside/downside and there is a candle closure below/above the opposite DR level.
• The strategy can calculate on the maximum amount of 5-minute candles on the chart.
• The experts tab shows upside/downside confirmations and false sessions with the session number included.
• Retracement levels are calculated only on true days and only when the price returns to the range during the session.

Usage Tips

• If you get NaN% or 100% on your stats, try reloading via switching timeframes.
• Set your chart Time Zone when you attach the indicator to the chart under indicator settings/inputs.

Disclaimer

• This product is still in beta. Any suggestions or observations are welcome.
• Past results can't guarantee future profits. Use this EA with proper risk management.

Community and Support

• For a better understanding of the strategy used with this indicator, refer to the Mas7er on YouTube or Discord.
• Any suggestions or observations are welcome. Please give a review if you like the product! Thanks.

Conclusion

The DR IDR Range Indicator PRO is a robust tool for traders looking to enhance their trading strategies with detailed range analysis and advanced statistics. With its customizable features and future enhancements, it offers a comprehensive solution for both backtesting and live trading scenarios. 🎯📈