ra n a
Info
The ra n a is a Indicator for MetaTrader 5 that the rana (ratio adjusted net advances) indicator developed by sherman and marian mcclellan shows the ratios of positive and negative increments in the prices of instruments available in the market watch and including the specified currency. it has one input parameter:base currency- name of the base currency of symbols in the market watch.
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 ra n a
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 rana (ratio adjusted net advances) indicator developed by sherman and marian mcclellan shows the ratios of positive and negative increments in the prices of instruments available in the market watch and including the specified currency.
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: Trend Regime Inspector for MetaTrader 5 - another powerful indicator for MetaTrader 5 traders.
the rana (ratio adjusted net advances) indicator developed by sherman and marian mcclellan shows the ratios of positive and negative increments in the prices of instruments available in the market watch and including the specified currency.
Also recommended: Stochastic Reversal Signal Indicator - similar indicator with strong performance on MetaTrader 5.
it has one input parameter:base currency
- name of the base currency of symbols in the market watch.
calculations:
where:
up - number of bullish candlesticks on all symbols;
dn - number of bearish candlesticks for all symbols. it should be noted that, at the first launch or at switching the timeframe, the indicator will need some time to download the necessary history for all the symbols required.
You may also like: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.