This indicator is a high-quality indicator that generates trading signals on the basis of price range. The indicator contains five variables for settings, for each position separately. With the Price Range indicator it is possible to trade and test strategies on all instrument such as Forex, commodities and stocks and also on all Timeframes. The indicator was designed to capture larger and long-term movements on the market, but it can also be used for short-term price movements on the market.

The indicator contains basic setting values C-Pmin-Pmax-P1-D. Since the indicator offers the possibility to set these values separately for each position, these values are specified in the settings for the Long position as LongC-LongPmin-LongPmax-LongP1-LongD and for the Short position ShortC-ShortPmin-ShortPmax-ShortP1-ShortD.

Advantages of the PRI indicator:

High-quality trading signals
Possibility of creating a large amount of your own trading strategies
The indicator can be used for Forex, commodities and Stocks
The indicator can be used on all Timeframes
The indicator provides a long-term trading and intraday trading
Settings for Long or Short position
The PRI indicator captures larger and longer-term movement

Indicator setting:

Long signal: True/False (If is set True, so Long signals are displayed)
Short signal: True/False (If is set True, so Short signals are displayed)
Long_C: (Number of candlesticks that is counted back)
Long_Pmin: (Minimum price range)
Long_Pmax: (Maximum price range)
Long_P1: (Percentage of price range)
Long_D: (Number of candlesticks when condition should be met)
Short_C: (Number of candlesticks that is counted back)
Short_Pmin: (Minimum price range)
Short_Pmax: (Maximum price range)
Short_P1: (Percentage of price range)
Short_D: (Number of candlesticks when condition should be met)
ShowLine: True/False (If is set True, so the line is displayed on chart when signal was generated)
BarsBack: (Number of bars back on which should be displayed signals from indicator)
 

You can to preview some backtest results of strategies, that are based on this indicator.

All backtests are created with In/Out sample data. Out sample data are tested from 01/2011. Strategies on the backtests are rather conservative strategies and it is tested on daily timeframe.