Range of Candle Indicator for MT5 Download - Free - [TradingFinder]

The Range of Candle Indicator visually represents price fluctuations simply. This MT5 oscillator evaluates the difference between the high and low of the current and previous candle using colored histograms, determining the range of fluctuations.

The primary purpose of the Range of Candle Indicator is to display volume changes and price fluctuations based on candlestick data.

Range of Candle Indicator Specifications Table

The specifications of the Range of Candle Oscillator are presented in the table below:

Category	Oscillator – Signal & Prediction – Volatile
Platform	MetaTrader 5
Skill Level	Beginner
Indicator Type	Reversal – Continuation
Time Frame	Multi Time Frame
Trading Style	Scalping – Day Trading
Markets	All Markets

Uptrend Conditions

Analyzing the Polkadot (DOT) cryptocurrency chart in the 1-hour timeframe demonstrates the performance of the Range of Candle Oscillator during an uptrend.

The sequential appearance of yellow histograms and green candles indicates an increase in price fluctuations and the strengthening of the upward price movement.

Downtrend Conditions

The AUD/USD currency pair chart in the 1-hour timeframe shows an increase in volatility in the downward direction, as evidenced by the formation of yellow histograms.

 Additionally, the appearance of pink histograms alongside green candles indicates a weakening bullish trend and a possible continuation of selling pressure in the market.

Conclusion

The Range of Candle Oscillator is designed to display the size of candle fluctuation ranges.

This MT5 volatile indicator analyzes the difference between a candle's highest and lowest price compared to the previous one to determine price fluctuations. If candle ranges consistently increase, a new trend may form.