5 Day ADR ICT Intraday Tracker

Pretty self explanatory, this indicator tracks todays current range as a % of the 5 Day ADR.

This is most useful for finding entries and looking for exits intraday, ie: how much hypothetical room is there for a trade to run? looking for entries in yellow and orange zones, exiting in blue once the ADR is reached etc.

Reset variable should be used for the end of day close. For forex on Oanda its 1700. Probably a way to do this programatically, if its obvious let me know and i can update it.

Can be set to clip output above 110% once the daily ADR has been fulfilled - this can be turned on or off.

Experimental mode for finding consolidations, based on the ADR for each day not been fulfilled and contracting. can be good for finding pending range expansion.

Code is pretty ugly, feel free to tweak.

current known issues: Indicator doesnt work for many non forex pairs, due to coding laziness. Indicator does not work on 1 minute timeframe.
הערות שחרור: Updated and adapted using code from - Average Daily Range - Daily (DTFL) by JorgeSilvestrini.

Bug fixes - now calculates on small timeframes and non forex pairs correctly.
סקריפט קוד פתוח

ברוח TradingView אמיתית, מחבר סקריפט זה פרסם אותו עם קוד פתוח, כך שסוחרים יוכלו להבין ולאמת זאת. הידד למחבר! אתה יכול להשתמש בו בחינם, אך שימוש חוזר בקוד זה בפרסום הנו בכפוף ל כללי הבית . אתה יכול להגדירו כמועדף ולהשתמש בו בגרף.

רוצה להשתמש בסקריפ זה בגרף?


I think @Rocketman was talking in terms of the number(pips) not the percentage. How do I really calculate the pips incase the pips exceed t
I noticed the script doesn't provide for the dotted lines visible on your chart, do you have a different script for that altogether? Please share
+22 השב
martinweb FX_Naeem
@FX_Naeem, it's another indicator since the indicator here is not a chart overlay. . you can read it's name in the upper left "HiLo4". maybe it just prints the high and lows during 4 days ;)
BryceWH FX_Naeem
@FX_Naeem, I didn't realise anyone was interested in that indicator but i'll publish it anyway
+1 השב
Why is the range of this indicator in between 0 - 100? What if today's range is less than average? Wouldn't it make a difference when the current day range is higher or lower than the 5 day average range? If it is shorter than the average, then the percent should be a negative number.
+1 השב
BryceWH Rocketman
@Rocketman, i don't know if you understand the indicator. The range is between 0 and 100 because it is a percentage. You average out the previous 5 days ranges, and calculate how much it has moved today. Pretty simple.
+1 השב
martinweb BryceWH
@BryceWH, thanks man. i really appreciate :D
+1 השב
BryceWH martinweb
@martinweb, you're welcome bro
This is Great! Thank you!
hm when the option clip 110 is turned on it only shows the whole range in blue on every timeframe if i look at btc. what timeframe and setting makes sense there? any ideas how to convert this script to v4?
it seems that this areas are a problem:
stophighcheck = nz(stophighcheck,open)
stoplowcheck = nz(stoplowcheck,open)
stoprange = nz(stoprange,open)

if adr_5 > adr_5
daycounter := 0.10
בית סורק מניות סורק מט"ח סורק מטבעות-קריפטו יומן כלכלי אודות תכונות גרף מחירון הפנה חבר כללי הבית מרכז תמיכה כלים לאתרים וברוקרים יישומונים פתרונות גרפיים ספריית גרפים קלי משקל בלוג וחדשות טוויטר‏