DislikedHi Billy, your ADR indiciator is exactly what I was looking for. However is there any possibility to do this indicator in MT5 please? Cheers!Ignored
New Average Daily Range (ADR) Indicator 78 replies
Average Daily Range Table (ADR) 63 replies
Average Daily Range (ADR) - code check 8 replies
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
Disliked{quote} Is the high and the low calculated from the previous day?Ignored
Disliked{quote} No they are from today but it uses the MT4's chart time. (the day starts at the most recent period separator line)Ignored
DislikedHi Billy, your ADR indiciator is exactly what I was looking for. However is there any possibility to do this indicator in MT5 please? Cheers!Ignored
Disliked{quote} So is it actually the Average Daily Range that is being used to determine the percentage or something else? I ask, because I have an ADR indicator on my chart with yours there also, and the percent was 155%, but it was nowhere near that amount on the other indicator which has the ADR period set for 15.Ignored
Disliked{quote} The other indicator you are referring to is not mine. The calculation for the ADR % is very simple, the indicator compares today's daily move against the average of input NumOfDays_6M so if your 6M figure on the chart is 77 and the H=2 and L=4 then today's range= 2+4= 6 and therefore the ADR % will be approx 7% (it is rounded up or down) The accuracy of the ADR % figure is not critical in our trading, (it will not make any difference if it was showing 5% or 9%) I realize that the ADR reading is probably not going to be useful to many people...Ignored
Disliked{quote} Sorry I didn't see your post, here is the MT5 version. I also include a settings file (change the file type to .set) {file} {file}Ignored
Disliked{quote} Hi, many thanks for this! I have tested it on my MT5 terminal and have 2 issues to report however. 1) The spacing between each part is big. Refer to attached screenshot. 2) After deleting the indicator, the values are still present and adding the indicator right again will not get it working again. Could you assist please? {image}Ignored
Disliked{quote} ok the new version I'm working on, will address these issues. Meanwhile, if you want to remove it, close the old chart and open a new chartIgnored
Disliked{quote} Hi Billv, many thanks for your assistance! I realised that the Journal log is also reporting memory leaks and is clashing with my EA. Not sure if it is because I put it on around 12 charts or there might be an issue with the porting over to MQL5. Am just reporting on the issues to help you clear any bugs that hasn't been reported yet. Cheers!Ignored
DislikedNew Version for MT5 3 new inputs have been added Recent_Days_Weighting = 5; It counts the average daily pip range of the last 5 trading days M6_Trading_weighting When=true the indicator adds the 5 day average pips to the 6M figure So the more recent price action has more weight to the 6M figure. Weighting_To_ADR_percentage When=true the indicator adds the 5 day average pips to the ADR% figure {file}Ignored