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New Average Daily Range (ADR) Indicator

  • #1
  • First Post: Edited Aug 30, 2020 4:45am May 17, 2020 5:55am | Edited Aug 30, 2020 4:45am
Hey Guys,

I'm here with another brand new indicator the - OGT ADR v1.0 Indicator.

There are a number of ADR indicators floating around on this forum, and I've taken the best bits from each one to create my own. It has the usual features:

  1. Session time to align with your broker
  2. Customise ATR look back period
  3. Display ADR upper and lower bands

However, I've added a brand new feature which I believe sets this ADR indicator above the rest.

It will tell you how far price has moved everyday (for the past x days) against the current ADR (default set to 100 days)

Attached Image


Using the above screenshot data, lets say the ADR was 100 pips. It tells you everyday for the past 100 days (100%) that price has moved at least 10 pips. Another example - 46 days of the last 100 (46%) price has exceeded the current ADR of 100 pips. You can see how this insight is invaluable to traders especially day traders and scalpers.

As always, I've created a tutorial video below, which goes into the detail and how to apply the indicator to your trading.

OGT ADR Indicator v1.0 Tutorial and Download

Inserted Video

Attached File(s)
File Type: ex4 OGT ADR Indicator v1.0.ex4   26 KB | 2,822 downloads


OGT ADR Indicator v1.1 Tutorial and Download

Inserted Video

Attached File(s)
File Type: ex4 OGT ADR Indicator v1.1.ex4   41 KB | 1,983 downloads | Uploaded May 31, 2020 8:38am


OGT ADR Indicator v1.2 Tutorial and Download

Inserted Video

Attached File(s)
File Type: ex4 OGT ADR Indicator v1.2.ex4   52 KB | 3,940 downloads | Uploaded Aug 30, 2020 4:43am


Appreciate the feedback and any improvements I can make in the future.

Thanks,
zoheb01
Never stop investing. Never stop improving. Never stop doing something new
  • #2
  • May 17, 2020 7:33am May 17, 2020 7:33am
Hello, interesting but the attachment is missing
Best
  • #3
  • May 17, 2020 9:30am May 17, 2020 9:30am
Quoting rosalieone
Hello, interesting but the attachment is missing Best
Sorry, thanks for letting me know. All updated now
Never stop investing. Never stop improving. Never stop doing something new
  • #4
  • May 17, 2020 11:31am May 17, 2020 11:31am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
Hi,

Thanks great indi. Maybe just give an option true/false for price movement info on left side of the screen?
We obey the structure that results from the market's reaction
  • #5
  • May 17, 2020 2:17pm May 17, 2020 2:17pm
Quoting Egbert
Hi, Thanks great indi. Maybe just give an option true/false for price movement info on left side of the screen?
Thanks for this. I've noted this down and will definitely be in the next release.
Never stop investing. Never stop improving. Never stop doing something new
  • #6
  • May 17, 2020 3:46pm May 17, 2020 3:46pm
Quoting Egbert
Hi, Thanks great indi. Maybe just give an option true/false for price movement info on left side of the screen?
Lost me, true or false for what?

If price has moved the ADR that day?

The lines changing color tells me that.

Thanks,

Going to try it now, pretty sure it will awesome
It takes a lot for me to IGNORE you, but you can try.
  • #7
  • Edited 4:59pm May 17, 2020 4:39pm | Edited 4:59pm
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
Quoting Erebus
{quote} Lost me, true or false for what? If price has moved the ADR that day? The lines changing color tells me that. Thanks, Going to try it now, pretty sure it will awesome
The price movement info in the top left corner.



https://www.forexfactory.com/attachm...1&d=1589725759


PS: Get a smaller screen

Thanks
We obey the structure that results from the market's reaction
  • #8
  • May 17, 2020 11:06pm May 17, 2020 11:06pm
Quoting Egbert
{quote} The price movement info in the top left corner. https://www.forexfactory.com/attachm...1&d=1589725759...
I still don't understand your request

Do you want those lines color coded?

Red for 100% , green for less than 100%

Is that True or False condition?
It takes a lot for me to IGNORE you, but you can try.
  • #9
  • May 18, 2020 1:51am May 18, 2020 1:51am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
Quoting Erebus
{quote} I still don't understand your request Do you want those lines color coded? Red for 100% , green for less than 100% Is that True or False condition?
No, the info top left corner if I want it to be displayed true/false. That’s all. The lines from the ADR must be there and as is. All other parameter should stay the same. For me I’m not interested in past history But maybe you are! I just want to see the “ today and 10 day ADR info.

PS: This is an “to simple” request for true/false and I personally think that’s why you cannot Get it, as programmers like your self are rather used to more complex request?
We obey the structure that results from the market's reaction
  • #10
  • May 18, 2020 2:09am May 18, 2020 2:09am
Hi, really interesting.
Could you please put a percentage to the right of the daily amount (ADR..., Today... = x%)
And could you also divide the space between the 2 bands on chart in 10% lines ?
Btw thank you for the indi
Best
  • #11
  • May 18, 2020 7:26am May 18, 2020 7:26am
@zoheb01, could you make the ADR display in pips instead of points, the text bigger if possible, and option to chose which corner of screen to display so it does not obscure other info on the screen? Thanks
  • #12
  • May 18, 2020 3:55pm May 18, 2020 3:55pm
Quoting rosalieone
Hi, really interesting. Could you please put a percentage to the right of the daily amount (ADR..., Today... = x%) And could you also divide the space between the 2 bands on chart in 10% lines ? Btw thank you for the indi Best
Thanks for the feedback. Have added this to the list
Never stop investing. Never stop improving. Never stop doing something new
  • #13
  • May 18, 2020 3:56pm May 18, 2020 3:56pm
Quoting danjuma
@zoheb01, could you make the ADR display in pips instead of points, the text bigger if possible, and option to chose which corner of screen to display so it does not obscure other info on the screen? Thanks
Thank you, also added to the list
Never stop investing. Never stop improving. Never stop doing something new
  • #14
  • May 18, 2020 5:28pm May 18, 2020 5:28pm
while your waiting, you can use ADR_PLUS for the percentages



Attached Image
It takes a lot for me to IGNORE you, but you can try.
  • #15
  • May 21, 2020 11:14am May 21, 2020 11:14am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
@zoheb01,

Will it be possible to add push notification also when ADR high or low been hit?

Thanks
We obey the structure that results from the market's reaction
  • #16
  • May 24, 2020 8:01am May 24, 2020 8:01am
Quoting Egbert
@zoheb01, Will it be possible to add push notification also when ADR high or low been hit? Thanks
Great shout. Has been noted for the next release
Never stop investing. Never stop improving. Never stop doing something new
  • #17
  • May 27, 2020 5:01pm May 27, 2020 5:01pm
Just currently testing v1.1. All being well, the new version will be released this Sunday!

Screenshot of v1.1

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 106 KB
Never stop investing. Never stop improving. Never stop doing something new
  • #18
  • May 31, 2020 6:36am May 31, 2020 6:36am
Hey team as promised, I’m excited to share with you my OGT ADR Indicator v1.1.

I would like to thank you all for your comments and feedback as it has scoped the latest version.

Version 1.1 includes 7 new features which allow for more customisation and information on the chart.

The video below outlines all the new features and input settings.

Inserted Video


As always, appreciate the feedback/comments

Attached File(s)
File Type: ex4 OGT ADR Indicator v1.1.ex4   41 KB | 1,398 downloads


Zoheb
Never stop investing. Never stop improving. Never stop doing something new
  • #19
  • May 31, 2020 7:17am May 31, 2020 7:17am
Great job Zoheb (y)
This is prooving to be very handy indicator to me.

But as you asking for feedback, one thing would make some testing for me even better. If there would be possibility to see previous days ADR lines back in history. Then visually we could see which period price respecting better.

thank you for your work, this indicator is allready amazing.

GL.
Yeah, well, you know, that's just, like, your opinion, man.
  • #20
  • May 31, 2020 8:44am May 31, 2020 8:44am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
Quoting zoheb01
Hey team as promised, I’m excited to share with you my OGT ADR Indicator v1.1. I would like to thank you all for your comments and feedback as it has scoped the latest version. Version 1.1 includes 7 new features which allow for more customisation and information on the chart. The video below outlines all the new features and input settings. https://youtu.be/Qqr8UnPA33k As always, appreciate the feedback/comments {file} Zoheb
thank you!!
We obey the structure that results from the market's reaction
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