Daily Price Movement Indicator

The Daily movement indicator is an essential for every trader, manual or algorithmic, short term or long term. If you want to focus your efforts on the most lucrative trade opportunities as a day-trader, then you’ve got to have the Daily Movement Indicator.

The Daily Movement indicator calculates the average range a currency pair moves during a period. The calculation is performed using the Average True Range (ATR) values of the Highs and Lows on a Daily chart spanning the previous “X” candles. The default settings for the Daily Movement Indicator looks like this:

As you can see, the indicator is already loaded with optimum settings for it to work on your Manhattan Global Markets trading account. Hence, you don’t need to do anything here unless you wish to see the market movement for the currency pairs over a shorter period (instead of daily), which is not recommended. Once you have the indicator running, it will look really ugly without the included template file. You need to right click on the chart (you can use any currency pair for this), and load a template.

When asked, navigate to the folder where you saved the indicator files and go to the DailyMovement directory. Inside there you will see a .tpl file called MGM_DailyMovement.tpl. Load that template and your Daily Movement indicator should look something like this:

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Download the Setup Guide

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