MT4 indicator (TSR_Ranges.mq4)
Download indicator: TSR_Ranges.mq4
How to trade with TSR_Ranges indicator
TSR_Ranges.mq4 shows a window in the upper left corner where traders can find:
Average day range - how far the market travels on average (in pips)
Note that if you have 5 digit platform, make sure to disregard the last digit.
TSR_Ranges indicator helps us do the math quicker than we were able to do it before.
TSR_Ranges and Risk : Reward ratio
Now, another useful feature is that traders can get guidance about Risk : Reward ratio.
By clicking on "Inputs" tab in the indicator properties window, traders can set the Ratio to the desired value. (By default the Risk : Reward ration is set to 3).
Note how your suggested Stop Loss values change with that.
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