Daily Range Backtest Levels Indicator for MT5 — Free Download

The Question Every Trader Needs Answered

You have a price level where you want to place a limit order. Maybe it's a support zone. Maybe it's an RSI target. Maybe it's yesterday's low. The question is always the same: "If I place my limit order here, what are the odds it actually fills and hits my take-profit?" Most traders never answer this question. They place the order and find out. This indicator answers it — with causal walk-forward validation, not curve-fitted hindsight.

How It Works — Causal Walk-Forward Validation

Step 1 — Training Phase

The indicator loads up to 500 D1 bars (configurable, Mon-Fri GMT only). It splits them using your configured WalkForwardSplitPct (default 60%). The first 60% is the training set. From this data, it calculates: average daily range in pips, average up move (open → high), average down move (open → low), and per-day-of-week averages (Mon through Fri with individual bar counts).

Step 2 — Order Level Calculation

Using the training period average range, the indicator computes today's suggested limit order prices: Buy Limit = Ask − (BuyLimitPctOfRange% × avg range) and Sell Limit = Bid + (SellLimitPctOfRange% × avg range). Default distance: 15% of average range. The take-profit distance is your configured TakeProfitPips value. These levels are recalculated at every new bar and displayed on the chart.

Step 3 — Walk-Forward Backtest

This is where the indicator earns its name. For every day in the 40% out-of-sample test period, it anchors limit orders to that specific day's open price (not today's open — each day gets its own anchor). Then it runs bar-by-bar simulation on two timeframes:

• H1 (24 bars per day): High-resolution check. Scans each hour for whether price touched the limit level and whether it later reached the TP level.
• H4 (7 bars per day): Broader check. Confirms the H1 results aren't just 1-hour noise.

Each day gets independent fill and TP flags. The final confidence is the blended H1+H4 average of days where both fill AND TP occurred. You also get per-timeframe breakdowns (H1 fill count, H1 TP count, H4 fill count, H4 TP count) so you can see if the results are consistent or if one timeframe is driving the numbers.

Output — What You Get

• Fill Probability: % of test days where the limit order was reached
• Fill+TP Confidence: % of test days where the order filled AND TP was hit — this is your confidence score
• Conditional TP%: Given the order filled, what % of the time did TP hit
• Auto Lot Sizing: ≥75% → 0.25 lots | ≥55% → 0.02 lots | below → skip (configurable thresholds)
• Per-Day-of-Week Ranges: Mon through Fri average ranges with bar counts
• H1+H4 Breakdown: Individual fill and TP counts per timeframe

Chart Visualization

Buy limit lines (green dashed), sell limit lines (red dashed), TP lines (green/red dotted). Levels only appear when confidence exceeds the minimum threshold — if confidence is too low, no lines are drawn. The dashboard displays in the top-left corner with a dark background for readability against any chart.

Pair It with RSI MTF Price Levels

This indicator tells you HOW LIKELY your limit orders are to fill and hit TP. The RSI MTF Price Levels indicator tells you WHERE to place those orders — at exact RSI-based price levels with confluence scores across M15/M30/H1/H4. Together they form a complete, backtested limit order system.

Quick FAQ

← Back to Indicators Library | Read the Full Guide →