ADR - Average Daily Range With Forecast

29 בדצמ׳ 2021

I always liked the MT4 ADR indicator that was going around but never found a decent port of it in tradingview. I also noticed that the way most people were doing the ADR calculation using SMA was not always accurate and that bothered me so I decided to write one from scratch which gave a very specific ADR calculation.

On the MT4 version it would project ADR targets on the high and low side. While I liked that I thought it could be improved upon by determining orderflow and anchoring to the perceived low of day to give you a more realistic target.

I also included a percentage of current ADR as well as changed the color to red once ADR was hit.

Configuring is very simple:

• Max Timeframe To Display: you can set what timeframes to show adr (I know tradeingview lets you set this now but I still like it here)
  
• Display Average Range As FOREX pips: Some Instruments use whole numbers so you can toggle if you need too
  
• ADR Length Parameter: Sets Number of Days Lookback to Calculate ADR
  

I hope you enjoy it.

7 באוק׳ 2022

הערות שחרור

Added Color and Text Selector
Also Added some logic to accept crypto types