Percent-Based Price Range and Direction Change Alerts
Summary
Price(%)Range is described as a MetaTrader 4 indicator that measures price movement using percentage-based high and low values over a 100-bar window. It is intended to alert users when price changes direction. An update added a SwingBars setting and the ability to draw a vertical line on the chart, giving users additional control over swing identification and visual marking.
The document outlines the basic calculation inputs and alert purpose, but does not explain the precise percentage formula, how a direction change is detected, or how SwingBars affects the result. It offers no chart examples, trading rules, or backtest evidence. Alerts from a range-based indicator may help flag potential turns, but the text does not establish their reliability or whether they work across instruments and timeframes.
Key ideas
- The indicator measures price movement using percentage high and low values across a 100-bar window.
- It provides alerts when it detects a change in price direction.
- An update added a SwingBars parameter and vertical chart lines.
- The description does not document the signal formula or report performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.