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ADR Custom Indicator for cTrader

ADR custom indicator

The ADR (Average Daily Range) indicator for cTrader shows the asset price average volatility over a certain period. All the changes in the particular timeframe will represent the currency movement. The comparison of the volatility strengths is the key aspect of the trading technical analysis!

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Works on cTrader

Get the indicator recording all the currency movements from the highest to the lowest peaks in every daily timeframe!

The idea behind the indicator

The indicator is especially effective in intraday strategies for predicting price movements. The average daily range determines forex trading goals: it shows the market situation accurately.

The ADR is calculated in pips from the lowest to the highest price over a period. The formula adds up the price dynamics for each day of the week and divides the received amount by the number of trading days. The result is depicted in a chart window (Fig. 1).

An example of the ADR indicator for cTrader on the D1 timeframe

Figure: 1 — An example of the ADR indicator for cTrader on the D1 timeframe.

The indicator input parameters:

There are enough items in the input parameters to customize the indicator value display on the chart in the right way.

Suppose you use the Daily timeframe in the trading process. In this case, the indicator can also be configured so the ADR values on the chart are displayed as conveniently as possible (Fig. 2 & 3).

An example of the ADR indicator for cTrader on the Daily timeframe

Figure: 2 — An example of the ADR indicator for cTrader on the Daily timeframe.

Another example of the ADR indicator for cTrader on the Daily timeframe

Figure: 3 — Another example of the ADR indicator for cTrader on the Daily timeframe.

Note that all ADR values are indicated in ticks (not pips) when the text is placed vertically. While in the horizontal display, the additional arbitrary text is removed using the Label text parameter.

For example, the ADR value text on the main chart can be hidden using the Font hidden parameter and focus only on a single window of the indicator itself (Fig. 4).

Customize the indicator according to your needs and preferences!

Figure: 4 - An example of the ADR indicator for cTrader without values on the main chart

Figure: 4 - An example of the ADR indicator for cTrader without values on the main chart.

Technical Requirements

Here is what you need to run this indicator:

Frequently Asked Questions

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Important information

All Products are provided “as is” without any warranties regarding effectiveness, performance, or suitability for particular purposes. The actual performance of the Products could be different from the testing results and your expectations.

Please study all information about the Products carefully before purchasing.

The amounts paid for the Products are non-refundable.

4xDev assumes no liability for any direct or indirect losses resulting from the use of the Products.