Hi guys.
How do you look at making an average extremum based on the average daily range?
To do this, you need to find a bar with the smallest highlow range in a given period and add to ADR the level that is the difference between the average and minimum ranges.
This will be the average extreme.
Then you need to find out how much the price will go beyond the average extreme and determine the percentage of this breakdown to the average range.
This will be the average deviation of the market extremes relative to the average range.
Most likely, these will be very accurate target levels for trades.
Re: ADR Indicators for MT4
12Regarding the use of fibonacci for ADR, in my opinion, you should take the levels of 23% or 38" from the average range for the minimum range and add the remainder to 100% to the average range (that's 77% or 62% ) and add them to the borders of the average range.
This will be the average Fibonacci extreme
This will be the average Fibonacci extreme
Re: ADR Indicators for MT4
13For reference, XARD's ADR indicator calculation from here:
viewtopic.php?p=1295440370#p1295440370
Here are the ADR calculations for future use...
Xard777
viewtopic.php?p=1295440370#p1295440370
Here are the ADR calculations for future use...
Code: Select all
//+---ADR------------------------------------------------------------------------------------------------------------+
string OPEN=""; OpenToday=iOpen(SymPair,1440,0); OPEN=(DoubleToStr(OpenToday,DecNos));
string PIPS=""; CLOSE=iClose(SymPair,1440,0); PIPS=DoubleToStr((CLOSE-OpenToday)/Point/pipsize,0);
ADR1=0; ADR5=0; ADR10=0; ADR20=0; ADRavg=0; int a,b,c; int ypos=0;
ADR1=(iHigh(NULL,TimeFrame,1)-iLow(NULL,TimeFrame,1));
for(a=1;a<= 5;a++) ADR5= ADR5+(iHigh(NULL,TimeFrame,a)-iLow(NULL,TimeFrame,a));
for(b=1;b<=10;b++) ADR10=ADR10+(iHigh(NULL,TimeFrame,b)-iLow(NULL,TimeFrame,b));
for(c=1;c<=20;c++) ADR20=ADR20+(iHigh(NULL,TimeFrame,c)-iLow(NULL,TimeFrame,c));
ADR5=ADR5/5; ADR10=ADR10/10; ADR20=ADR20/20; ADRavg=(((ADR1+ADR5+ADR10+ADR20)/4))/Point/pipsize;Re: ADR Indicators for MT4
14@kvak
Any chance I can bother you to create past (historic lines) for this excellent indi.
Cheers,
Opita
Opita
Re: ADR Indicators for MT4
15...or anyone else that can do it.opita wrote: Sun Jan 22, 2023 4:14 pm @kvak
Any chance I can bother you to create past (historic lines) for this excellent indi.
Cheers,
Opita
Opita
Re: ADR Indicators for MT4
16Hello,sorry I dont noticed this post, better to quote me directly....btw dont know this request....
Re: ADR Indicators for MT4
17Hello, I've been trying to search for an ADR indicator that has a fixed range starting from the candle's open.
Example for the D1 range, the ADR envelops the days range for the whole day and the middle of that ADR is in the daily open. It is fixed and does not move even though the daily range for that day is breached.
One feature I was looking is to also use this on other timeframes like H4 average range, H1 average range.
Do anybody know or can code it?
Thank you very much.
Example for the D1 range, the ADR envelops the days range for the whole day and the middle of that ADR is in the daily open. It is fixed and does not move even though the daily range for that day is breached.
One feature I was looking is to also use this on other timeframes like H4 average range, H1 average range.
Do anybody know or can code it?
Thank you very much.
Attachments
Re: ADR Indicators for MT4
18Hello sir, can you help me with this indicator. It is made by one of the excellent coders here.kvak wrote: Thu Feb 02, 2023 5:36 am Hello,sorry I dont noticed this post, better to quote me directly....btw dont know this request....
I am just curious and needs your opinion if this indicator follow the ADR calculation? Thank you very much.
- These users thanked the author FoxFoxicle for the post:
- RodrigoRT7
Re: ADR Indicators for MT4
19]FoxFoxicle wrote: Tue Mar 21, 2023 11:07 am Hello sir, can you help me with this indicator. It is made by one of the excellent coders here.
I am just curious and needs your opinion if this indicator follow the ADR calculation? Thank you very much.
Looks like atr to me, this bands version has a choice between atr or average range.
Attachments
- These users thanked the author mrtools for the post (total 2):
- Chickenspicy, FoxFoxicle
Re: ADR Indicators for MT4
20Thank you for your time sir. I have some problem calibrating the ADRmrtools wrote: Tue Mar 21, 2023 12:10 pm ]
Looks like atr to me, this bands version has a choice between atr or average range.
I need the AHR or the Average Hourly Range but I have no idea how to calibrate it.
So I use the ADR of your indi and compare it to other ADR indi.
If ADR values or the high/low range are the same, it means the calculation is correct and the Average Hourly Range calculation will also be correct.
But here there are some discrepancies.
Attachments
