Jimmy wrote: Thu Jun 20, 2024 7:22 pm
Good question. The 3x ADR displays the maximum pips an entire trend (swing) lasts for.
Every time a pair reaches near the 3xADR the trend will have to reverse eg.
- 3x ADR of GPBJPY is 448 pips
- Once price has moved close to this, you would look for a major reversal as it will not exceed the 3x ADR.
It's mainly used as a take profit guide. This is done by:
- Dividing the 3x ADR by 3.
- The sum is your take profit target eg.
- GPBJPY's 3x ADR is 448. Divide it by 3 and you get 149 (pips).
So 149 pips is the amount of movement into the trend's direction you would anticipate from a session, depending on where you get in. If you're late, just subtract from the last swing.
You can also use the daily timeframe's ATR indicator set on 14 period which will tell you what your take profit should be. I will add this to Beatle's template and re-release a newer version if that makes it easier.
Are you finding the strategy good? Or do you feel like it's a bit heavy on resources/loading?
Jimmy, thank you very much for the prompt clarification.
There are no questions on the top corner now. I will also take into account the best forums here
I'll reset it here so as not to flip through the pages
