Daily Range Indicator
Daily high/low volatility range indicator · Free · MT4
About Daily Range Indicator
The Daily Range Indicator, documented at theforexgeek.com and best-metatrader-indicators.com, is a MetaTrader 4 tool that measures the distance between the highest and lowest price of the current trading day, giving traders an at-a-glance read on the day's volatility and how much further a pair is likely to move.
It plots the day's high and low directly on the chart, making support/resistance areas easy to spot. Unlike broader volatility tools like ATR, it focuses specifically on the current day's range — particularly useful for day traders and scalpers setting realistic profit targets and stop-losses.
- Platform: MetaTrader 4
- Type: Daily high/low range volatility indicator
- Use case: Setting realistic TP/SL levels for the current session
- Price: Free
- Source: theforexgeek.com · Daily Range Indicator MT4
Key Features
✓ Free and simple — a quick daily volatility snapshot without chart clutter
✓ Helps avoid unrealistic profit targets by showing the day's actual price range
⚠ Doesn't predict direction, and strong news can push price well beyond the average daily range — don't treat it as a hard ceiling