Expanding and Contracting Ranges

For a lot of people day trading represents the attainment of their trading prowess.  However, you need markets to move to capture profit, especially if you have to cross the bid/ask spread.  It therefore makes sense to trade only during those times in which you have a range-expansion.

The indicator Range.mq4 measures exactly that.  If you place it on a 1M (minutely) chart, and set its LookBack period to 15 (that is the last 15 minutes), the indicator will show you the height of the range of the previous 15 minutes.

You should be looking to trade when the indicator is on a strong up move.