Free Forex Indicator for MetaTrader 4
Free MT4 Range Bar Chart Indicator
If you are looking for range bar charts and using MT4, then I have created a free range bar chart that can be downloaded here. The advantage of this range bar is that it works as an indicator instead of a script making it much more usable. Here are some of the major differences between using a range bar chart script and using the MT4 Range Bar Chart Indicator:
A normal Range Bar script requires :
One feeder chart per range bar chart per pair
- If you wanted to open say 3 range bar charts for EU and 3 for AU you would end up with 6 open 1 minute charts, and 6 open range bar charts. This gets messy fast and if you change any of those 1 minute charts to any other time frame the range bar charts stop updating.
The feeder chart must be a 1 minute chart.
The offline charts are created with scripts and so each time you restart MT4 you must restart each script and configure the parameters.
The scripts run in a loop and keep the range bar charts working by continuously sending window messages to them. This degrades CPU performance quickly when multiple range bar charts are active
My Range Bars require:
Only one feeder chart per pair - one feeder chart can drive many range bar charts
The feeder chart can be set to any MT4 time frame.
The offline charts are created via an indicator and so the settings are remembered each time you restart MT4, no reconfiguration is needed.
My version runs as an MT4 indicator, that means the range bar charts only update when there is a price tick, not in a continuous loop, so the performance is much nicer.