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New Average Daily Range (ADR) Indicator

Hi zohebo1,

Thanks for your wonderful ADR indicator with so many options for its presentation on the chart.

But each time I switch my chart to a higher time frame than the Daily, I get repeated error messages that the "chart period is greater than 1 day". The error message continues popping up intermittently without stopping until I revert to the daily time frame or lower.

Is there a way to stop this error message popping up, because otherwise it means that one cannot use the chart to inspect price action on time
frames greater than the Daily?
ff18,
go to Indicator properties > Visualization tab > uncheck 'All timeframes', 'Weekly' and 'Monthly' checkbox. You won't see an error message on higher timeframes anymore and it will continue working on lower timeframes.
thank you , the indicator was really nice . will be using it . appreciated.
Quoting ff18
Hi zohebo1, Thanks for your wonderful ADR indicator with so many options for its presentation on the chart. But each time I switch my chart to a higher time frame than the Daily, I get repeated error messages that the "chart period is greater than 1 day". The error message continues popping up intermittently without stopping until I revert to the daily time frame or lower. Is there a way to stop this error message popping up, because otherwise it means that one cannot use the chart to inspect price action on time frames greater than the Daily?
Thanks for your message. I'm not sure I have to check. I guess you can have a daily chart open and if you have an interested pair you can use that chart to inspect the higher timeframes
Never stop investing. Never stop improving. Never stop doing something new
Quoting bopuc
ff18, go to Indicator properties > Visualization tab > uncheck 'All timeframes', 'Weekly' and 'Monthly' checkbox. You won't see an error message on higher timeframes anymore and it will continue working on lower timeframes.
Thanks just saw this! Very useful!
Never stop investing. Never stop improving. Never stop doing something new
Quoting cupidsux
thank you , the indicator was really nice . will be using it . appreciated.
Thank you for the feedback. v1.2 launches tomorrow with a great update!
Never stop investing. Never stop improving. Never stop doing something new
Hey Team,

I’m really excited to share the OGT ADR Indicator v1.2.

In this latest update I’ve provided the most requested feature. You now can see historic ADR levels of previous days on the chart.

This allows you to visually see how often the pair’s ADR gets hit and back test your favorite ADR strategies.

The video below outlines this new feature in more detail. I’m always looking to make these indicators better and help you make better trading decisions. Please provide your feedback, and thanks for using my indicators.

Inserted Video


Attached File(s)
File Type: ex4 OGT ADR Indicator v1.2.ex4   52 KB | 1,166 downloads
Never stop investing. Never stop improving. Never stop doing something new
Quoting zoheb01
Just currently testing v1.1. All being well, the new version will be released this Sunday! Screenshot of v1.1 {image}
Hello sir, this is interesting one.
May i ask something? In that list, you break down from 0-100% then make the line 1 by 1. I'm just wondering, can this calculation be extended to 1 decade? because reflecting on the XAU experience, unexpectedly the price stopped at 2088 and then fell back down. Hope you can build it.
Quoting zoheb01
Hey Team, I’m really excited to share the OGT ADR Indicator v1.2. In this latest update I’ve provided the most requested feature. You now can see historic ADR levels of previous days on the chart. This allows you to visually see how often the pair’s ADR gets hit and back test your favorite ADR strategies. The video below outlines this new feature in more detail. I’m always looking to make these indicators better and help you make better trading decisions. Please provide your feedback, and thanks for using my indicators. https://youtu.be/FmEEj38Homg...
Hello Zoheb01,
Do the ADR lines draw directly at the session opening?
Retur
Hi zoheb01,

thank you for such an awesome indicator!

any thoughts on ever making a future bands/ zone predictor based on the historical ADR fraction moves?
———————————————————
ex. Your original example screenshot:
ADR 50-60% 88%

then in 3days (3 days just an example can be any days)

one can assume with 68% certainty (0.88x0.88x0.88) that price will be between

an upper band of [current price + (50%ADRx3)]
and lower band of [current price - (50%ADRx3)]
—————————-
one could push the idea further of having upper/ lower bands with data of
50-60% 88%
60-70% 79%

so then we know our upper/ lower Zones to be hit in 3days is 49-68% likely.
————————
just curious if using this data would predict midweek reversals or at least answer the question of WHEN a major price liquidity zone is to be violated
I'm interested in having a user defined ASR incorporated, as well, that was mentioned by @Gauer earlier.
Would you be willing to consider putting in an average rate of change with stats (daily as well as sessions if they become available).

That would give a possible target zone. Maybe the Ave top 10 of a sample of 100 for the near target and the Ave bottom 10 of 100 for a far target.

For example, let's say the average daily rate of change is 10 pips on a low day and a high day is 50 pips. Then there could be an inner an outter zone that price tends to return to by end of day/session along with probabilities of it's return.....just a thought.

Further studies may find the rate of change for up days and down days to have there own pattern as well.
Hi zoheb01,
is it possible to display the setting in the indicator "ADR_Alert_Value_Percentage" as a line in the chart, in addition to the 100% ADR line.
Many greetings Chris
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Quoting ggtc
Hi zoheb01, thank you for such an awesome indicator! any thoughts on ever making a future bands/ zone predictor based on the historical ADR fraction moves? ——————————————————— ex. Your original example screenshot: ADR 50-60% 88% then in 3days (3 days just an example can be any days) one can assume with 68% certainty (0.88x0.88x0.88) that price will be between an upper band of [current price + (50%ADRx3)] and lower band of [current price - (50%ADRx3)] —————————- one could push the idea further of having upper/ lower bands with data of 50-60% 88%...
THIS - i would love a 3x ADR so i can track reversals etc.

If I knew how to code it, i would do it - but @zoheb01, I would love to be an option too
Thank you very much Zoheb01.

There are a lot of imputs in your *set.
Please could you give a clear explanation about the meaning of each line?

Thank you in advance
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Great work btw. A few items of feedback/ queries:

1) I'd also like to propose / request move variability such as a 0.5 adr line (user defined) possibly with a second alert.
2) Further - I noticed the lines are drawn on a sunday on an fx chart suggesting the adr is picking up sunday as a trading day in the calculation. Is that why you use 15 rather than 14?
3) I'd like to debate the best use of the indicator when looking for large explosive moves (as per 12 candle window trading popularised by Stacey Burke) which has clearly informed your confluence trading. Here the short term ADR doesnt seem to do justice to the size of moves and hence targets when this trends rapidly.
4) I also haven't yet found a setting for the pin bar hammer and engulfing candles in your price action indicator that picks up these reversals often just into the 12 candle window. More success with the engulfing candles to be fair but for pinbars they seem to be a little at odds with the strong filters in Walter Peters definitions. Have you found an answer at all?

Many thanks,
Ronconomics
Quoting zoheb01
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: Session time to align with your broker Customise ATR look back period 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...

Hi Zoheb, Do you minds sharing the mq4 file if possible? Would be really helpful to me. Thank you
Quoting Erebus
while your waiting, you can use ADR_PLUS for the percentages {image}
I am looking for this indicator for Tradingview. Any help pls?
Quoting Donettie
{quote} I am looking for this indicator for Tradingview. Any help pls?
You could ask in this thread which I'm trying to keep active

https://www.forexfactory.com/thread/...iew-discussion

If you chase two rabbits, you will catch neither one!
Brain Surgery Return This Year: 24.9%
Quoting Donettie
{quote} I am looking for this indicator for Tradingview. Any help pls?
It's easy to look in Tradingview, what have you found so far?

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If you chase two rabbits, you will catch neither one!
Brain Surgery Return This Year: 24.9%
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