Day Extremum Zones Indicator
Info
The Day Extremum Zones Indicator is a Indicator for MetaTrader 5 that the indicator displays daily extremum zones, highlighting key areas of interest for traders. Maximum Zone: This zone is calculated by taking the day's maximum and extending it by Х% of the day's range.
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 Day Extremum Zones Indicator
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
The indicator displays daily extremum zones, highlighting key areas of interest for traders.
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: Accurate Broker Time Zones and Session Lines for MT4/MT5 - another powerful indicator for MetaTrader 5 traders.
The indicator displays daily extremum zones, highlighting key areas of interest for traders.Also recommended: Trend Buy/Sell Zones with Automated Lot Sizing and Risk Panel for MT5 - similar indicator with strong performance on MetaTrader 5.
Maximum Zone: This zone is calculated by taking the day's maximum and extending it by Х% of the day's range.
Minimum Zone: The minimum zone is determined by starting from the day's minimum and adding y% of the day's range.
The indicator offers flexible parameter customization, allowing traders to fine-tune the zone parameters according to their preferences.
Drawing Styles:
- Filling (draw_filling)
- Histogram (draw_histogram2)
- Line (draw_line)
- Arrows (draw_arrow)
- Not Drawn (draw_none)
Usage:
For color fill and histogram styles, the indicator visualizes zones that can serve as support zones. Traders can adjust the zone sizes for maximums (inpupzonepct) and minimums (inpdnzonepct) to suit their strategies.
Line and Arrows Styles: The indicator can display external and internal boundaries of zones by toggling the inpdrawinternalzone parameter. When showing the internal zone, traders can set its value relative to Fibonacci levels for enhanced support and resistance analysis.
Example: The green line represents 38% from the minimum (inpdnzonepct = 38), and the blue line is 50% from the day's maximum (inpupzonepct = 50), with inpdrawinternalzone set to true, mimicking Fibonacci levels.
In all drawing styles, the zones can act as a filter for order placement, helping traders avoid positions near daily extremes.
The indicator is designed to be non-intrusive, allowing for seamless integration into existing trading solutions. By using the 'Not Drawn' style, traders can leverage the indicator's calculations without cluttering their charts.
Recommendations:
Review log records for error handling and troubleshooting.
Notes:
The indicator is compatible with timeframes up to Н2.
It relies on a specific indicator for calculations.
Values are displayed only on closed bars.
Data window display can be toggled on or off using the inpshowdata parameter.
You may also like: ICT Kill Zones Indicator: Asian, London, New York in New York Time (2026) - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.01"
#property indicator_chart_window
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#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_plots 2
#property indicator_buffers 4
double bufw[]; //
double bufx[]; // / .......
⚠ 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.