TPO Range Indicator

TPO Range Indicator

Determine the best price-action buy-sell signals using the TPO Range Indicator in MT4. Supports MTF charts and suits forex & stocks scalping/intraday trading.

The TPO Range is a price-action MT4 trading indicator. It outlines important price levels alongside real-time volume data. Assessing critical event areas of the market is a crucial task for technical traders. They usually monitor how the price reacts near the solid support/resistance levels. Confirmation of rejection or breakout at such a target price level is essential. Particularly for determining potential buy/sell zones in different market sessions.

The TPO Range offers price action confirmation using a volume indicator. It shows the number of trading activities during a particular candle period. So, you can have an overview of the market sentiment while looking for trading signals.

Technically, TPO Range is a day trading indicator that works best on 30-minute to 1-hour timeframes. This guide explains how to determine buy-sell signals in live markets using the TPO Range indicator in MT4.

How to trade forex and stocks using the TPO Range MT4 Indicator

The TPO Range closely scans the recent highs and lows of the market and discovers critical price levels. The dotted horizontal lines across the chart represent potential support/resistance levels. While anticipating buy-sell signals, you must wait until the price visits an S/R zone. Next, observe how the price reacts around the event areas. Try to spot a price reversal or breakout signal. Next, verify the signal using the volume bars shown on the right side of the chart.

For instance, the indicator shows the number of trading activities is highest during a bullish breakout. It means maximum entries are long, and the price is likely to begin an uptrend movement. In the above USDJPY chart example, the price initially tested and failed to break the support multiple times. Later, the chart printed a couple of solid bullish pin bars, suggesting a possible uptrend. Meanwhile, the large volume bar indicated a leading trading activity, confirming a perfect buy opportunity.

After activating an order, use the nearest support/resistance zones to determine the stop-loss limit. Also, consider an exit when the price fails to exceed a key market level and turns against your trading direction. We recommend you stick to the 1:2 risk-to-reward rule to ensure a steady trading account growth.

Conclusion
The TPO Range is the best MT4 indicator for price-action-based trading in forex and stock markets. Apart from determining key price levels, it also allows you to monitor the ups and downs of live trading activities. Besides, you can use it to anticipate pullback and breakout trading setups during