Calculating Range Bars
Here's the pic about range bar in action...
How to setup this in MT4 (almost same like renko bar setup) :
The funny things it also same like renko bar, it will change every indicator action. You can doing some experiment with your forex system maybe it will increase probability winning and have good performance in future but don't expect holy grail result, you won't find it.
1. Download the script : DOWNLOAD HERE
2. Put script .ex4 in your script MT4 folder installation\experts\scripts
3. Restart and run your MT4 terminal, i used pair EURUSD as sample
4. Select View > Navigator and find folder scripts then double click script, it will look like this...
5. Let the option default you can customize later, push OK
6. Few second later alert will showed...
7. Select File > Open Offline, click EURUSD M2 and it will show like this...
* It not just M2 you can change in M3 or M4 in indicator option 'timeframe' function. Also you can change your range pips every bar.
Congratulation your chart now have range bar function. Have fun with your forex system experiment, good luck guys.
p.s Someone said its paid indicator, but hell damn thing i could find that free in 4sh*red.com