_2523(T_S_R)-Daily Range Calculator _v1

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Author: Copyright � 2006, Ogeima
_2523(T_S_R)-Daily Range Calculator _v1

The Daily Range Calculator is a professional analytical tool designed to provide traders with a comprehensive overview of historical price movements and real-time market positioning. Instead of cluttering your charts with complex graphs, it centralizes vital data into a clean, readable dashboard that helps you understand the "boundaries" of a currency or asset's movement.

Here is a breakdown of how the logic works:

Historical Data Analysis

The script automatically scans previous price history to calculate the total distance traveled (the range) over specific timeframes. It provides you with four distinct perspectives:

  • 1-Day Range: The movement of the most recent trading day.
  • 5-Day Average: The average daily movement over the last week.
  • 10-Day Average: The average daily movement over the last two weeks.
  • 20-Day Average: The average daily movement over the last month.

By comparing these figures, you can quickly identify if the current market is moving with unusual intensity or if it is behaving within its normal historical boundaries.

Dynamic Market Positioning

The tool calculates the "Average Daily Range" (RAvg) and compares it against the current live price. It then determines the Room Up and Room Down values:

  • These metrics show how much "space" is left in the market before the asset reaches its typical average movement for the day, based on the current highs and lows.

Risk Management & Stop-Loss Projection

One of the script's most practical features is its ability to suggest potential risk parameters. Based on a user-defined Risk-to-Reward Ratio, the logic automatically calculates:

  • Maximum Stop-Losses: It projects the mathematically appropriate distance for a Stop-Loss for both "Long" (buying) and "Short" (selling) positions.
  • Price Targets: It converts these pip distances into actual price levels on your screen, allowing you to see exactly where your protection should sit based on the current volatility.

Real-Time Dashboard Display

To ensure this information is always accessible without manual calculation, the script generates an on-screen dashboard. This display updates automatically to show:

  1. The Current Symbol and Timeframe you are viewing.
  2. Comprehensive Statistics: A full list of all historical averages and "Room" values calculated above.
  3. Live Price Tracking: The current market price and the previous day's high/low for immediate context.
  4. Risk Summary: Clear, color-coded labels showing your projected Stop-Loss prices and the configured Risk-to-Reward ratio.

Summary of Purpose

This tool is designed to remove guesswork from trade planning. By providing the "average" behavior of a market at a glance, it helps you stay objective—ensuring that your trades are sized and protected according to how the market actually moves, rather than just guessing where a price might turn.

Price Data Components
Series array that contains the highest prices of each barSeries array that contains the lowest prices of each bar
Indicators Used
Moving average indicator
15 Views
0 Downloads
0 Favorites
_2523(T_S_R)-Daily Range Calculator _v1 
//+------------------------------------------------------------------+
//|                             #(T_S_R)-Daily Range Calculator .mq4 |
//|                      Copyright © 2006, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"
#property link      "Data window by cja"
//+------------------------------------------------------------------+
//|                                                   TSR_Ranges.mq4 |
//|                                         Copyright © 2006, Ogeima |
//|                                             ph_bresson@yahoo.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Ogeima"
#property link      "ph_bresson@yahoo.com"

#property indicator_separate_window
//---- input parameters
extern double  Risk_to_Reward_ratio =  3.0;
int nDigits;
extern bool OnDisplay = false;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
IndicatorShortName("TSR");
   if(Symbol()=="GBPJPY" || Symbol()=="EURJPY" || Symbol()=="USDJPY" || Symbol()=="GOLD" || Symbol()=="USDMXN") nDigits = 2;
   if(Symbol()=="GBPUSD" || Symbol()=="EURUSD" || Symbol()=="NZDUSD" || Symbol()=="USDCHF"  ||
   Symbol()=="USDCAD" || Symbol()=="AUDUSD" || Symbol()=="EURUSD" || Symbol()=="EURCHF"  || Symbol()=="EURGBP"
   || Symbol()=="EURCAD" || Symbol()=="EURAUD" || Symbol()=="AUDNZD")nDigits = 4;

   return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   //----
   int R1=0,R5=0,R10=0,R20=0,RAvg=0;
   int RoomUp=0,RoomDown=0,StopLoss_Long=0,StopLoss_Short=0;
   double   SL_Long=0,SL_Short=0;
   double   low0=0,high0=0;
   string   Text="";
   int i=0;

   R1 =  (iHigh(NULL,PERIOD_D1,1)-iLow(NULL,PERIOD_D1,1))/Point;
   for(i=1;i<=5;i++)
      R5    =    R5  +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;
   for(i=1;i<=10;i++)
      R10   =    R10 +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;
   for(i=1;i<=20;i++)
      R20   =    R20 +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;

   R5 = R5/5;
   R10 = R10/10;
   R20 = R20/20;
   RAvg  =  (R1+R5+R10+R20)/4;    

   low0  =  iLow(NULL,PERIOD_D1,0);
   high0 =  iHigh(NULL,PERIOD_D1,0);
   RoomUp   =  RAvg - (Bid - low0)/Point;
   RoomDown =  RAvg - (high0 - Bid)/Point;
   StopLoss_Long  =  RoomUp/Risk_to_Reward_ratio;
   SL_Long        =  Bid - StopLoss_Long*Point;
   StopLoss_Short =  RoomDown/Risk_to_Reward_ratio;
   SL_Short       =  Bid + StopLoss_Short*Point;


   Text =   "Average Day  Range: " +  RAvg + "\n"  + 
            "Prev 01  Day  Range: " +  R1   + "\n" + 
            "Prev 05  Days Range: " +  R5   + "\n" + 
            "Prev 10  Days Range: " +  R10  + "\n" +
            "Prev 20  Days Range: " +  R20  + "\n";
   Text =   Text +
            "Room Up:     " + RoomUp              + "\n" +
            "Room Down: " + RoomDown            + "\n" +
            "Maximum StopLosses :"  + "\n" +
            "Long:  " + StopLoss_Long  + " Pips at " + DoubleToStr(SL_Long,nDigits)  + "\n" +
            "Short: " + StopLoss_Short + " Pips at " + DoubleToStr(SL_Short,nDigits) + "\n" ;

   if (OnDisplay)
   Comment(Text);
  
   string P=Period();
  
   
        ObjectCreate("TSR", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR",StringSubstr(Symbol(),0),12, "Arial Bold", CadetBlue);
        ObjectSet("TSR", OBJPROP_CORNER, 0);
        ObjectSet("TSR", OBJPROP_XDISTANCE, 25);
        ObjectSet("TSR", OBJPROP_YDISTANCE, 2);
        ObjectCreate("TSR1", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR1",StringSubstr(P,0),12, "Arial Bold", CadetBlue);
        ObjectSet("TSR1", OBJPROP_CORNER, 0);
        ObjectSet("TSR1", OBJPROP_XDISTANCE, 100);
        ObjectSet("TSR1", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("TSR2", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR2","Average Daily Range:", 10, "Arial Bold", CadetBlue);
        ObjectSet("TSR2", OBJPROP_CORNER, 0);
        ObjectSet("TSR2", OBJPROP_XDISTANCE, 150);
        ObjectSet("TSR2", OBJPROP_YDISTANCE, 2);
        ObjectCreate("TSR3", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR3",DoubleToStr(RAvg ,0),12, "Arial Bold", Orange);
        ObjectSet("TSR3", OBJPROP_CORNER, 0);
        ObjectSet("TSR3", OBJPROP_XDISTANCE, 300);
        ObjectSet("TSR3", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("TSR4", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR4","Prev 01 Day Range:", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR4", OBJPROP_CORNER, 0);
        ObjectSet("TSR4", OBJPROP_XDISTANCE, 25);
        ObjectSet("TSR4", OBJPROP_YDISTANCE, 20);
        ObjectCreate("TSR5", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR5",DoubleToStr(R1,0),12, "Arial Bold", Orange);
        ObjectSet("TSR5", OBJPROP_CORNER, 0);
        ObjectSet("TSR5", OBJPROP_XDISTANCE, 160);
        ObjectSet("TSR5", OBJPROP_YDISTANCE, 20);
        
        ObjectCreate("TSR6", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR6","Prev 05 Days Range:", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR6", OBJPROP_CORNER, 0);
        ObjectSet("TSR6", OBJPROP_XDISTANCE, 25);
        ObjectSet("TSR6", OBJPROP_YDISTANCE, 35);
        ObjectCreate("TSR7", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR7",DoubleToStr(R5,0),12, "Arial Bold", Orange);
        ObjectSet("TSR7", OBJPROP_CORNER, 0);
        ObjectSet("TSR7", OBJPROP_XDISTANCE, 160);
        ObjectSet("TSR7", OBJPROP_YDISTANCE, 35);
        
        ObjectCreate("TSR8", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR8","Prev 10 Days Range:", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR8", OBJPROP_CORNER, 0);
        ObjectSet("TSR8", OBJPROP_XDISTANCE, 220);
        ObjectSet("TSR8", OBJPROP_YDISTANCE, 20);
        ObjectCreate("TSR9", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR9",DoubleToStr(R10,0),12, "Arial Bold", Orange);
        ObjectSet("TSR9", OBJPROP_CORNER, 0);
        ObjectSet("TSR9", OBJPROP_XDISTANCE, 355);
        ObjectSet("TSR9", OBJPROP_YDISTANCE, 20);
        
        ObjectCreate("TSR10", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR10","Prev 20 Days Range:", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR10", OBJPROP_CORNER, 0);
        ObjectSet("TSR10", OBJPROP_XDISTANCE, 220);
        ObjectSet("TSR10", OBJPROP_YDISTANCE, 35);
        ObjectCreate("TSR11", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR11",DoubleToStr(R20,0),12, "Arial Bold", Orange);
        ObjectSet("TSR11", OBJPROP_CORNER, 0);
        ObjectSet("TSR11", OBJPROP_XDISTANCE, 355);
        ObjectSet("TSR11", OBJPROP_YDISTANCE, 35);
        
        ObjectCreate("TSR12", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR12","Room UP:", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR12", OBJPROP_CORNER, 0);
        ObjectSet("TSR12", OBJPROP_XDISTANCE, 420);
        ObjectSet("TSR12", OBJPROP_YDISTANCE, 20);
        ObjectCreate("TSR13", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR13",DoubleToStr(RoomUp,0),12, "Arial Bold", Orange);
        ObjectSet("TSR13", OBJPROP_CORNER, 0);
        ObjectSet("TSR13", OBJPROP_XDISTANCE, 490);
        ObjectSet("TSR13", OBJPROP_YDISTANCE, 20);
        
        ObjectCreate("TSR14", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR14","Room DN:", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR14", OBJPROP_CORNER, 0);
        ObjectSet("TSR14", OBJPROP_XDISTANCE, 420);
        ObjectSet("TSR14", OBJPROP_YDISTANCE, 35);
        ObjectCreate("TSR15", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR15",DoubleToStr(RoomDown,0),12, "Arial Bold", Orange);
        ObjectSet("TSR15", OBJPROP_CORNER, 0);
        ObjectSet("TSR15", OBJPROP_XDISTANCE, 490);
        ObjectSet("TSR15", OBJPROP_YDISTANCE, 35);
        
        ObjectCreate("TSR16", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR16","Maximum StopLosses;",10, "Arial Bold", CadetBlue);
        ObjectSet("TSR16", OBJPROP_CORNER, 0);
        ObjectSet("TSR16", OBJPROP_XDISTANCE, 560);
        ObjectSet("TSR16", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("TSR17", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR17","Long:             Pips at", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR17", OBJPROP_CORNER, 0);
        ObjectSet("TSR17", OBJPROP_XDISTANCE, 560);
        ObjectSet("TSR17", OBJPROP_YDISTANCE, 20);
        ObjectCreate("TSR18", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR18",DoubleToStr(StopLoss_Long,0),12, "Arial Bold", Orange);
        ObjectSet("TSR18", OBJPROP_CORNER, 0);
        ObjectSet("TSR18", OBJPROP_XDISTANCE, 600);
        ObjectSet("TSR18", OBJPROP_YDISTANCE, 20);
        
        ObjectCreate("TSR19", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR19","Short:             Pips at", 10, "Arial ", LightSteelBlue);
        ObjectSet("TSR19", OBJPROP_CORNER, 0);
        ObjectSet("TSR19", OBJPROP_XDISTANCE, 560);
        ObjectSet("TSR19", OBJPROP_YDISTANCE, 35);
        ObjectCreate("TSR20", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR20",DoubleToStr(StopLoss_Short,0),12, "Arial Bold", Orange);
        ObjectSet("TSR20", OBJPROP_CORNER, 0);
        ObjectSet("TSR20", OBJPROP_XDISTANCE, 600);
        ObjectSet("TSR20", OBJPROP_YDISTANCE, 35);
        
        ObjectCreate("TSR21", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR21",DoubleToStr(SL_Long,nDigits),12, "Arial Bold", SteelBlue);
        ObjectSet("TSR21", OBJPROP_CORNER, 0);
        ObjectSet("TSR21", OBJPROP_XDISTANCE, 690);
        ObjectSet("TSR21", OBJPROP_YDISTANCE, 20);
        ObjectCreate("TSR22", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR22",DoubleToStr(SL_Short,nDigits),12, "Arial Bold",SteelBlue);
        ObjectSet("TSR22", OBJPROP_CORNER, 0);
        ObjectSet("TSR22", OBJPROP_XDISTANCE, 690);
        ObjectSet("TSR22", OBJPROP_YDISTANCE, 35);
        
        ObjectCreate("TSR23", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR23","Risk to Reward Ratio:", 10, "Arial Bold", CadetBlue);
        ObjectSet("TSR23", OBJPROP_CORNER, 0);
        ObjectSet("TSR23", OBJPROP_XDISTANCE, 350);
        ObjectSet("TSR23", OBJPROP_YDISTANCE, 2);
        ObjectCreate("TSR24", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("TSR24",DoubleToStr( Risk_to_Reward_ratio ,0),12, "Arial Bold", Orange);
        ObjectSet("TSR24", OBJPROP_CORNER, 0);
        ObjectSet("TSR24", OBJPROP_XDISTANCE, 500);
        ObjectSet("TSR24", OBJPROP_YDISTANCE, 2);
        
     
        double HIDaily = iMA(Symbol(),PERIOD_D1,1,0,MODE_HIGH,PRICE_HIGH,0);
        double LOWDaily = iMA(Symbol(),PERIOD_D1,1,0,MODE_LOW,PRICE_LOW,0); 
        double YEST_HIDaily = iMA(Symbol(),PERIOD_D1,1,0,MODE_HIGH,PRICE_HIGH,1);
        double YEST_LOWDaily = iMA(Symbol(),PERIOD_D1,1,0,MODE_LOW,PRICE_LOW,1); 
   
        ObjectCreate("high", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("high",DoubleToStr(HIDaily,Digits), 12, "Arial Bold", Orange);
        ObjectSet("high", OBJPROP_CORNER, 0);
        ObjectSet("high", OBJPROP_XDISTANCE, 890);
        ObjectSet("high", OBJPROP_YDISTANCE, 20);
        
        ObjectCreate("high2", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("high2","DailyHigh", 9, "Arial Bold", CadetBlue);
        ObjectSet("high2", OBJPROP_CORNER, 0);
        ObjectSet("high2", OBJPROP_XDISTANCE, 890);
        ObjectSet("high2", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("low", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("low",DoubleToStr(LOWDaily,Digits), 12, "Arial Bold", Orange);
        ObjectSet("low", OBJPROP_CORNER, 0);
        ObjectSet("low", OBJPROP_XDISTANCE, 830);
        ObjectSet("low", OBJPROP_YDISTANCE, 20);
        
        ObjectCreate("low2", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("low2","DailyLow", 9, "Arial Bold", CadetBlue);
        ObjectSet("low2", OBJPROP_CORNER, 0);
        ObjectSet("low2", OBJPROP_XDISTANCE, 830);
        ObjectSet("low2", OBJPROP_YDISTANCE, 2);
        
         double CURR = iMA(Symbol(),0,1,0,MODE_EMA,PRICE_CLOSE,0);
   
           
        ObjectCreate("high3", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("high3",DoubleToStr(CURR,Digits), 12, "Arial Bold", Coral);
        ObjectSet("high3", OBJPROP_CORNER, 0);
        ObjectSet("high3", OBJPROP_XDISTANCE, 890);
        ObjectSet("high3", OBJPROP_YDISTANCE,35 );
            
        ObjectCreate("high4", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("high4",DoubleToStr(CURR,Digits), 12, "Arial Bold", Coral);
        ObjectSet("high4", OBJPROP_CORNER, 0);
        ObjectSet("high4", OBJPROP_XDISTANCE, 830);
        ObjectSet("high4", OBJPROP_YDISTANCE,35 );
        
        ObjectCreate("low4", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("low4","T/Day", 9, "Arial ", LightSteelBlue);
        ObjectSet("low4", OBJPROP_CORNER, 0);
        ObjectSet("low4", OBJPROP_XDISTANCE, 790);
        ObjectSet("low4", OBJPROP_YDISTANCE, 20);
        ObjectCreate("low5", OBJ_LABEL, WindowFind("TSR"), 0, 0);
        ObjectSetText("low5","Price", 9, "Arial ", LightSteelBlue);
        ObjectSet("low5", OBJPROP_CORNER, 0);
        ObjectSet("low5", OBJPROP_XDISTANCE, 790);
        ObjectSet("low5", OBJPROP_YDISTANCE, 37);
   
   


   return(0);
  }
//+------------------------------------------------------------------+

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