Daily Range Tracker
Info
The Daily Range Tracker is a Indicator for MetaTrader 5 that daily range tracker - live today's range vs average daily rangedaily range tracker shows you, at a glance, how much of the symbol's typical daily movement has already happened today - helping you judge whether the day still has room to run or is already exhausted. Key features:- Live Today's High and Low for the current chart symbol, updated continuously- Today's Range automatically calculated in pips, with correct pip-size handling for both 3/5-digit and standard brokers, including JPY pairs- Average Daily Range (ADR) calculated over a configurable lookback period (default 14 days) using only fully closed daily bars- Visual Range Used % with a color-coded progress bar - green under 60%, yellow 60-90%, red above 90% - so you instantly know if the move is just getting started or already stretched- Clean single-symbol panel, no setup required - just attach to any chart- Fully customizable colors, panel position, and refresh rate- Lightweight - minimal CPU usage, safe to run on every chart simultaneouslyPerfect for day traders and scalpers who want a fast read on whether a symbol still has range left to trade, or swing traders deciding whether a breakout has genuine room to extend.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Daily Range Tracker
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Daily Range Tracker - Live Today's Range vs Average Daily RangeDaily Range Tracker shows you, at a glance, how much of the symbol's typical daily movement has already happened today - helping you judge whether the day still has room to run or is already exhausted.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Prop Firm Risk Dashboard: Monitor Daily Loss and Drawdown - another powerful indicator for MetaTrader 5 traders.
Daily Range Tracker - Live Today's Range vs Average Daily RangeAlso recommended: Premium Discount Range Mapper for MT5 - similar indicator with strong performance on MetaTrader 5.
Daily Range Tracker shows you, at a glance, how much of the symbol's typical daily movement has already happened today - helping you judge whether the day still has room to run or is already exhausted.
Key features:
- Live Today's High and Low for the current chart symbol, updated continuously
- Today's Range automatically calculated in pips, with correct pip-size handling for both 3/5-digit and standard brokers, including JPY pairs
- Average Daily Range (ADR) calculated over a configurable lookback period (default 14 days) using only fully closed daily bars
- Visual Range Used % with a color-coded progress bar - green under 60%, yellow 60-90%, red above 90% - so you instantly know if the move is just getting started or already stretched
- Clean single-symbol panel, no setup required - just attach to any chart
- Fully customizable colors, panel position, and refresh rate
- Lightweight - minimal CPU usage, safe to run on every chart simultaneously
Perfect for day traders and scalpers who want a fast read on whether a symbol still has range left to trade, or swing traders deciding whether a breakout has genuine room to extend.
Updated for 2026
You may also like: daily risk monitor lite for mt5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
#property indicator_chart_window
#property indicator_plots 0
input group "PANEL"
input int PanelX = 15;
input int PanelY = 25;
input int RefreshSeconds = 2;.......
⚠ 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.