Range of Candle Indicator for MT4 Download - Free - [TradingFinder]

The Range of Candle indicator evaluates market volatility using colored bars. This MT4 oscillator calculates market range by comparing the difference between the current candle's high and low with the previous candle's.

It then displays histograms representing increasing or decreasing market volume using these values.

Specification Table of Candle Range Indicator

Below are the specifications and features of the Range of Candle indicator:

Category	Oscillator – Signal & Prediction – Volatile
Platform	MetaTrader 4
Skill Level	Beginner
Indicator Type	Reversal – Continuation
Time Frame	Multi Time Frame
Trading Style	Scalping – Day Trading
Markets	All Markets

Uptrend Conditions

Analyzing the Binance Coin (BNB) cryptocurrency chart in a 30-minute timeframe shows how the Range of Candle Indicator functions in an uptrend.

According to the image, consecutive yellow histograms aligned with green candles indicate increased volatility in an upward trend.

Downtrend Conditions

Based on the GBP/USD currency pair chart on a 15-minute timeframe, yellow histograms indicate increased volatility in a downtrend.

Conversely, histograms aligned with green candles are shown in pink, indicating weakness in the upward trend.

Conclusion

Unlike trend following indicators, the Candle Range Oscillator evaluates market volatility.

This MT4 signal and forecast indicator uses colored bars to show increases or decreases in trend volatility and simply plots an asset's average price movement range.