Ricstar_8 wrote: Mon Jun 13, 2022 9:08 am Thanks for such a prompt reply XARD. I have zero experience with code. Should we treat this as a 5 period ADR? Thanks again
XARD: The Average Daily Range (ADRavg) is calculated from this formula... ADRavg=(((ADR1+ADR5+ADR10+ADR20)/4))
which adds the ADR of Day1 plus ADR of day5 plus the ADR of day10 plus the ADR of day20 altogether, takes that total figure, and divides it by 4 to give us our mean ADRavg for that period.

Use the Range as a Guide for Profit Targets
Using the range as a guide for profit targets will allow you to hold a position and gauge the market’s reaction when it gets there. If it continues, you can hold. And what if it shows signs of exhaustion? You can be sure that the volume for that particular currency/index has dried up at around the usual levels.

This strategy will also allow you to calculate your entries into the market with much more clarity. If you see that the pair/index has already ran most of its range, you might reconsider entering the market at that point, for fear of the market correcting and retracing from the highs / lows. This will also save you from losing trades and pips.

The best way to become comfortable with this concept is to apply it to your charts and practice. (This is true for most trading concepts.) Watch the reactions that occur at these areas when you use them as profit targets. Remember that this should be part of the entry decision process, rather than a simple ‘enter here’ method.

Use the average daily range purely for profit targets. Do not try to cram it into every possible trading scenario.

After a few weeks you will start to see the power and effectiveness of the daily range, but only when used correctly!

xard777 wrote: Wed Jun 15, 2022 12:05 am Slightly off-topic...
The goal is to kill small businesses. Can't have people be independent, after all. The Great Reset can only have giant global entities that control all aspects of your life with the help of a gigantic government. No room for such things as making your own way. Now become a good serf and eat your bugs while owning nothing and maybe they won't have you purged.

xard777 wrote: Wed Jun 15, 2022 5:28 am A picture is worth a thousand words or in this case a thousand Pip$ :-)))
Learn to fish young trader person, learn to fish.
Xard777

Another SELL trade... Who knew!!!