DislikedHi, I have been using an ADR indicator for a few years now because I need to know how many pips a currency pair has moved in relation to yesterday, and long term, monthly or 6 monthly. and also how far price has moved from the low or high of the day. The indicator prints the current pip distance from the daily top and to the daily bottom in pips. This could be useful if you have seen the pair do a move and retrace and you can't tell how far away it has moved. Also, by adding the low and high in our head we can quickly see how many pips the pair...Ignored
{quote} By looking at H + L you can quickly work out how many pips the currency pair has done for the day so if H = 25 and L is 75, the pair has done 100 pips today
but I was saying if it's possible to get the instant calculated thing in indicator it'll be better because you know some people like me sucks in mathematics Rocks on Bull *
Bull on rocks V3 All Time Return:
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- Joined Dec 2011 | Status: Member | 1,814 Posts
{quote} Hi, yes I can see that
I now use V3.2 and I have disabled inputs Y,M,M6 so I only see the H and L numbers because I know the ranges of the pairs I trade.
I suggest you do the same because clean charts are very important.
Have a nice day
- Joined Jul 2011 | Status: Member | 8,176 Posts
{quote} i use the "Average Daily Range SR" from mql5 to trade.
For instance, the data line at the top points out what information it is telling you:
Daily candlestick current direction = up - Awesome, no need for Black / White or Red / Green candles anymore
Period = 14 - most do that
ADR value - pretty normal, this is what the indicator it is!
Current Trading range = 16.0 pips - the decimal place is super accurate
Percentage of the ADR reached = 27.9% - still need to do mental math to work out there is 72.1% available room to move
Daily Range = 16.1 pips - even more accurate than the previous Current Trading range value, but are both necessary?
The problem I have is with the Green lines on the chart. The bottom line is at the current daily low and the top line is showing where an ADR could end up, assuming price never goes down.
What happens when the price goes below the daily open? Does the top green line suddenly drop to the current high of the day and the bottom line descend to predicted low of the ADR? Must be quite a sight if price is ranging around the daily open.
The SM Daily Marker is by far a superior indicator and it's FREE
It projects the ADR high and ADR range low from both the current days' low and high
Those lines are dynamic; meaning they will move with price, but only until the ADR is met, then they are fixed.
You probably need to watch it for a few days to fully understand.
It doesn't give the daily direction (up / down) but I'll stick with candle color or just eyeball that
If you trade like me, you'll be homeless and broke within a week.
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{quote} Trust me there is no need, in fact it is important to have as few distractions as possible on our screens so we should remove anything which is not needed. I now use V3.2 and I have disabled inputs Y,M,M6 so I only see the H and L numbers because I know the ranges of the pairs I trade. I suggest you do the same because clean charts are very important. {file}
have a great weekend and stay safe !
Rocks on Bull *
Bull on rocks V3 All Time Return:
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