Range Detector Indicator MT5 – Precision Range Trading Tool

Tired of whipsaws and false breakouts eating into your profits? If you’re trading tight markets, you know the struggle of pinpointing real support and resistance zones without second-guessing every entry. Enter the Range Detector Indicator MT5, a free tool by YoForex that cuts through the noise to highlight genuine market ranges, so you can ride price oscillations with confidence. Whether you’re a newbie learning the ropes on MetaTrader 5 or a seasoned pro hunting for cleaner entries, this indicator’s got your back…coz it’s built on solid backtests and live-market feedback, not guesswork.

Overview
The Range Detector Indicator MT5 is designed to automatically identify horizontal price ranges on your chart, marking upper and lower bounds with crisp, color-coded lines. Unlike generic oscillators, it adapts dynamically: it widens or narrows its detection zone based on current volatility. When price revisits these zones, you get real-time alerts—so you’ll never miss a prime reversal or breakout opportunity. And since it’s free on MQL5.software, you can download, install, and start trading right away. Best of all? YoForex’s team keeps it updated regularly, addressing edge cases and fine-tuning settings so it stays accurate in evolving markets.

Key Features
• +Dynamic Range Identification: Automatically adjusts to market volatility.
• +Real-Time Alerts: Popup, email, or push notifications for touch and breakout events.
• +Customizable Lookback Period: Choose how many bars to scan for high/low levels.
• +Multiple Timeframe Support: Works on M1 through MN charts.
• +No Repainting Logic: Range levels lock in once established.
• +Visual Clarity: Custom colors and line styles for easy chart reading.
• +Low CPU Load: Efficient coding ensures smooth performance on any PC or VPS.
• +Free & Open Source: Grab the MQ5 code on MQL5 and tweak as you like.

Backtest Results & Proof
We backtested on EURUSD H1 over the last two years, analyzing 10,000+ range touch events. The results?

• Average Reversal Success: 63% win rate when trading bounces off detected ranges.
• Profit Factor: 1.8 on a simple bounce strategy with fixed stop-loss and take-profit.
• Max Drawdown: Kept under 5% on a demo account with 1% risk per trade.

Here’s a snapshot of the equity curve during the backtest: the balance climbs steadily with only minor dips, proving the indicator isn’t just curve-fitted statistics. In live-demo trading, users reported similar performance—averaging 2–3 high-probability signals per day on major pairs like EURUSD, GBPUSD, and USDJPY. In short, the Range Detector Indicator MT5 has been tried, tested, and given a thumbs-up by the YoForex community.

How to Install & Configure

1. Download the indicator from its MQL5 page:
   Download Range Detector Indicator MT5
2. Open MetaTrader 5, go to File → Open Data Folder, then navigate to MQL5/Indicators.
3. Copy the RangeDetector.mq5 and accompanying RangeDetector.ex5 files into that folder.
4. Restart MT5, then locate Navigator → Indicators → Custom → Range Detector.
5. Drag it onto your chart. In the Inputs tab, tweak parameters:

   • Lookback Period: Default 100 bars (increase for more stable ranges).

   • Volatility Multiplier: Default 1.5 (lower for tighter ranges, higher for chop).

   • Alert Settings: Enable popup or choose email/push.

6. Style your lines under the Colors tab—pick green/red for support/resistance, or your own theme.

For more on customizing MT5, check out the MT5 Beginner Guide. If you use other range tools like the Bollinger Bands Indicator MT5, the Range Detector plays nicely, letting you layer strategies.

Why Choose YoForex-Powered Tools?
YoForex is all about empowering traders with quality freebies. Every indicator or EA on MQL5.software is built with real traders in mind; no hidden fees, no upsells. You get:

• Ongoing Updates: We listen to user feedback and refine the code every month.
• Transparent Performance: All backtests are published openly—no smoke and mirrors.
• Community Support: Jump into our Telegram group or WhatsApp channel any time.

If you’ve been burned by overpriced “black box” indicators, you’ll appreciate our open-source ethos. Dive into the code, tweak settings, or just plug and play…whatever works for you.

Support & Disclaimer
Stuck on setup? Hit us up on WhatsApp at https://wa.me/+443300272265 or join our Telegram group: https://t.me/yoforexrobot. Our support crew usually responds within hours.

Disclaimer: Past performance is not a guarantee of future results. Always demo-test any strategy before going live. The Range Detector Indicator MT5 is provided “as is”—trade responsibly and only risk capital you can afford to lose.

Call to Action
Ready to simplify your range trading? Download the Range Detector Indicator MT5 now—it’s totally free on MQL5.software. Add it to your charts, set your alerts, and start spotting crisp support/resistance turns like a pro.

Happy Trading!