Mass Index - Range expansion reversal gauge (MT4)

Mass Index measures range expansion by tracking the ratio of EMA of the High-Low range to its own EMA and summing it over time. A rising bulge warns that reversal risk is building, then a roll down signals potential trend change on MetaTrader 4.

What it shows

• Bulge: Mass Index rises above a threshold - expansion and exhaustion risk.
• Dry-up: index rolls over and drops - potential reversal window.
• Non directional by itself - combine with price structure or a trend filter.
• Optional alerts on bulge cross up, cross down and exit from the window.

Trade ideas

1. Bulge then roll: wait for the index to cross above the bulge level then turn down - trade a reversal with confirmation.
2. Trend filter: only take reversal setups against a stretched swing and near S or R.
3. Breakout check: ignore early signals while price has not broken structure.
4. Multi TF: watch Daily bulges for bias, time entries on H1 or M15.

Inputs that matter

• Sum period (classic 25).
• EMA lengths for range and smoothing.
• Bulge level (for example 27.0) and exit level.
• Alerts and visual thresholds.

Suggested usage

• M5-M15: intraday exhaustion checks and scalps with structure breaks.
• M30-H4: swing reversals and failure tests of highs or lows.
• Daily+: regime shifts and risk trimming.

Installation (MT4)

1. Open MetaTrader 4 - File - Open Data Folder.
2. Copy Mass_Index.ex4 to MQL4/Indicators.
3. Restart MT4 or refresh Navigator and attach Mass Index.
4. Adjust inputs - OK.

FAQ

Does it repaint? No on closed bars.
Directional? Mass Index is volatility based and does not provide direction - use structure or MA for bias.
Use in EAs? Yes, via iCustom.

Disclaimer: Always test on a demo first - risk management matters.