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ADR Average daily Range Indicator

  • #101
  • Aug 29, 2020 8:28pm Aug 29, 2020 8:28pm
Quoting orlondo35
ok so i look i checked it out and it is showing the 62 adr and 3xadr is 186 on usdchf that is from the previous week adr this is what is being calculated over 5 days WDR and get the average 62
I'm sorry I checked multiple currency pairs and I didn't find the 3ADR figure to be very useful to me.
It seemed to work some times but many other times the ranges were all over the place.
If it continues to work for you, then please continue to use it.
Thank you for your posts.
Have a nice day
  • #102
  • Aug 29, 2020 9:40pm Aug 29, 2020 9:40pm
Quoting billv
{quote} I'm sorry I checked multiple currency pairs and I didn't find the 3ADR figure to be very useful to me. It seemed to work some times but many other times the ranges were all over the place. If it continues to work for you, then please continue to use it. Thank you for your posts.
Three days seems to be a thing , the range of 3 days , not 3 ADR by itself

Attached Image (click to enlarge)
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  • #103
  • Aug 29, 2020 11:00pm Aug 29, 2020 11:00pm
Quoting Erebus
{quote} Three days seems to be a thing , the range of 3 days , not 3 ADR by itself
Can you give us an example please?
You are analysing a lot of data, is this your own dashboard?
Have a nice day
  • #104
  • Aug 30, 2020 1:19am Aug 30, 2020 1:19am
Quoting billv
{quote} Can you give us an example please? You are analysing a lot of data, is this your own dashboard?
Well, I don't know so much about the 3 days factor, but I know Daily, Weekly and Monthly ranges often come into play / price action

Look at this chart, what did price do when it hits the MTL - Monthly Target Low, then the WTL - Weekly Target Low and then the DTL - Daily Target Low???

Amazing

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #105
  • Aug 30, 2020 5:31am Aug 30, 2020 5:31am
Quoting Erebus
{quote} Well, I don't know so much about the 3 days factor, but I know Daily, Weekly and Monthly ranges often come into play / price action Look at this chart, what did price do when it hits the MTL - Monthly Target Low, then the WTL - Weekly Target Low and then the DTL - Daily Target Low??? Amazing
Thanks Erebus, I will take a look at the dashboard
Have a nice day
  • #106
  • Sep 1, 2020 5:09pm Sep 1, 2020 5:09pm
billv,

For the MT5 version, Will you be able to add label / text for the ADR high / low lines with corresponding price values and also a vertical line to show the beginning of the day?

Thanks!
  • #107
  • Edited 9:15am Sep 4, 2020 8:45am | Edited 9:15am
Was checking the ADR for MT5, I think the code is "inverted", check this image here: the label of the upper line says "low line", and the label of the low line says "up line", and the "L" value display is too far to the right, compared to the "H" value

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  • #108
  • Edited 9:32am Sep 4, 2020 8:58am | Edited 9:32am
I also noticed that the value of the ADR is not matching the ADR lines. For example, I set the ADR to 10 days (NumberOfDays_M input, correct?), it shows a 50pts ADR for 10 days. If you measure from today´s low to the upper ADR line, it shows 76 pts, that is 26pts more. Aren´t those ADR lines dynamic? Aren´t they supposed to adjust as the range is forming? What if I Care only about the 10 day ADR value, why the ADR percentage have to be tied to 6M ADR? Why can´t the percentage be based on the 10 day ADR I configured? One suggestion is to make the "virgin" ADR lines dotted, and then when price touches it, it becomes solid, better visual representation of ADR exhaustion. Another suggestions is to compile a version of this same indicator but that looks at weekly or monthly bars instead of daily. So you load the indicator on the daily chart to see the range lines, but the calculation uses higher timeframe bars (weekly or monthly). Call it AMR or AWR (average monthly range - average weekly range)

Attached Image (click to enlarge)
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EDIT: OK so now I have hidden M and changed 6M to 10 and I am getting the correct value (6M to 10 = 10 day ADR)
  • #109
  • Sep 4, 2020 9:23am Sep 4, 2020 9:23am
Ok so I decided to compare the value with the ATR indicator on MT5, same input of 10 days is showing a different value.

ATR for 10 days is showing 55 pts, and your ADR is showing 50 pts for 10 days (and yes, I turned off all weighting options in settings)

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  • #110
  • Sep 6, 2020 11:56am Sep 6, 2020 11:56am
Quoting Erebus
{quote} Three days seems to be a thing , the range of 3 days , not 3 ADR by itself {image}
Sir Erebus,
Would you please share this dashboard? I am looking for something like it since a while. Thanks
  • #111
  • Sep 6, 2020 12:49pm Sep 6, 2020 12:49pm
Quoting Leepakhan
{quote} Sir Erebus, Would you please share this dashboard? I am looking for something like it since a while. Thanks
Where do you "look" for indicators and utilities?

I find the best place is where they know about Metatrader

http://www.mql5.com

It takes a lot for me to IGNORE you, but you can try.
  • #112
  • Sep 7, 2020 2:19am Sep 7, 2020 2:19am
Quoting Erebus
{quote} Where do you "look" for indicators and utilities? I find the best place is where they know about Metatrader http://www.mql5.com
I have never bought any indicator from any source because i have eventually found every required indi free here at forexfactory forums from many kind people who are always willing to support each other.

Thanks for the reply anyways.

I got a very good one here.
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  • #113
  • Sep 25, 2020 1:59am Sep 25, 2020 1:59am
Quoting Erebus
{quote} Well, I don't know so much about the 3 days factor, but I know Daily, Weekly and Monthly ranges often come into play / price action Look at this chart, what did price do when it hits the MTL - Monthly Target Low, then the WTL - Weekly Target Low and then the DTL - Daily Target Low??? Amazing {image}
hello sir which inid is this one??
  • #114
  • Sep 25, 2020 1:59am Sep 25, 2020 1:59am
Quoting Leepakhan
{quote} I have never bought any indicator from any source because i have eventually found every required indi free here at forexfactory forums from many kind people who are always willing to support each other. Thanks for the reply anyways. I got a very good one here. {image}
could you send the link to this indicator please
  • #115
  • Oct 6, 2020 2:06pm Oct 6, 2020 2:06pm
Quoting macosd
{quote} could you send the link to this indicator please
Sorry for the late reply. I was away for sometime.

https://www.forexfactory.com/thread/...scanner-alerts
  • #116
  • Oct 8, 2020 9:05am Oct 8, 2020 9:05am
Quoting Erebus
{quote} Well, I don't know so much about the 3 days factor, but I know Daily, Weekly and Monthly ranges often come into play / price action Look at this chart, what did price do when it hits the MTL - Monthly Target Low, then the WTL - Weekly Target Low and then the DTL - Daily Target Low??? Amazing {image}
Could you pls release this indicator, or the name of this indicator
  • #117
  • Oct 8, 2020 9:44am Oct 8, 2020 9:44am
Quoting ntk
{quote} Could you pls release this indicator, or the name of this indicator
No problem, here is the FREE version

good luck

https://www.mql5.com/en/market/produ...#!tab=overview
It takes a lot for me to IGNORE you, but you can try.
  • #118
  • Oct 8, 2020 2:21pm Oct 8, 2020 2:21pm
Quoting Erebus
{quote} No problem, here is the FREE version good luck https://www.mql5.com/en/market/produ...#!tab=overview
thank you for the free version of Nesrac ADR, it worr only for AUDNZD. Very interesting indicator, using in this way
  • #119
  • Oct 24, 2020 6:15am Oct 24, 2020 6:15am
Quoting billv
{quote} where did you find this, do you have the source code?
hi is this indicator for mt4?

also where do i find ?

many thanks
  • #120
  • Oct 24, 2020 7:24am Oct 24, 2020 7:24am
Quoting RoninTheory
{quote} hi is this indicator for mt4? also where do i find ? many thanks
Yes MT4
Look higher up on this page
https://www.forexfactory.com/thread/...8#post13125648
Have a nice day
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