RP – indicator for MetaTrader 5
Indicator RP (Range Position) displays the price position within the range (from Low to High) reached over the previous N periods.
It has four configurable parameters:
- Range period – range calculation period;
- First level – the first level;
- Second level – the second level;
- Third level – the third level.
RP = 100 * (Close - Min) / (Max - Min)
- Max, Min – the highest and the lowest prices within the Period
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