Daily Range Calculator delivers precise MT5 average range data for smarter trade decisions

This detailed review of Daily Range Calculator in 2026 examines real trading results and provides a focused performance analysis for traders evaluating volatility tools. Daily Range Calculator stands out because it intentionally avoids chart clutter and delivers a single, actionable numeric value: the average of High minus Low over your chosen lookback. That simplicity makes analysis transparent and repeatable across symbols. The indicator, authored by Maximilian Andla for MT5, recalculates ranges in real time and displays the data as an unobtrusive chart comment so traders and EAs can read exact figures without graphical interference. The underlying algorithm uses basic arithmetic: it computes each day’s range and averages those values over the configured period, with optional exclusion of weekends or extended sessions depending on broker feed. That approach is deterministic and robust across trending and range-bound markets, particularly on liquid FX majors and index CFDs. Risk management is left to the user, but the output is explicitly designed to normalize stop loss and take profit levels relative to current volatility. Expected performance characteristics are not claim-based returns but improved consistency in trade sizing and target placement; in backtests using realistic spreads, the tool reduces outlier stop distance variation and clarifies intraday target setting.