average range monitor (arm)
Info
The average range monitor (arm) is a Expert Advisor for MetaTrader 4 that the indicator calculates the average volatility of selected instruments using the following formula:vol = ((high[1] - low[1]) +. + (high[period-1] - low[period-1]) + (high[period] - low[period])) / period;where high[1] - low[1] represents yesterday's range, high[2] - low[2] represents the day before yesterday's range, and so on.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use average range monitor (arm)
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
the indicator calculates the average volatility of selected instruments using the following formula:vol = ((high[1] - low[1]) +.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: moving average grid ea - another powerful expert for MetaTrader 4 traders.
the indicator calculates the average volatility of selected instruments using the following formula:vol = ((high[1] - low[1]) + ... + (high[period-1] - low[period-1]) + (high[period] - low[period])) / period;
Also recommended: average speed - similar expert with strong performance on MetaTrader 4.
where high[1] - low[1] represents yesterday's range, high[2] - low[2] represents the day before yesterday's range, and so on.
the desired averaging period is set in the indicator settings window and is denoted as ar_period.
vol represents the average daily volatility expressed in ticks (not points).
this indicator helps traders quickly identify the most volatile markets over the recent period, making it useful for intraday scalpers seeking these markets while minimizing time spent.
to use the indicator, manually create a file named symbols.txt (using notepad) and list the desired instruments in a single column. for example:
zl_cont
zm_cont
zo_cont
zr_cont
zs_cont
zw_cont
usdjpy
eurusd
gbpusd
audusd
nzdusd
usdcad
eurjpy
usdchf
eurgbp
then, place the symbols.txt file in the terminal_catalog\experts\files directory. before using the indicator, it is recommended to display all instruments in the instruments window or market watch. once numerical data appears in the comments, you can hide unnecessary instruments in the instruments window to conserve traffic.
the indicator displays the top 32 volatility readings in ascending order. the remaining volatility readings that do not appear in the comments can be viewed in the arm_f.txt file located in the terminal_catalog\experts\files directory.
You may also like: moving average and commodity channel index (ma2 cc i) - excellent alternative for expert users on MetaTrader 4.
Source Code
#property indicator_chart_window
extern int ar_period = 14;
string symb[100];
string text[100];
double arm[100];
int init( )
{
return( 0 );
}
int deinit( ).......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.