The comparison of the volatility strengths is the key aspect of the trading technical analysis. 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.
Money requires patience and technical support. We provide you with both of them.
Get the indicator recording all the currency movements from the highest to the lowest peaks in every daily timeframe!
Works on cTrader
The indicator is especially effective in intraday strategies for predicting price movements. The average daily range determines Forex trading goals: it accurately shows the market situation.
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).
Figure 1 — An Example of the ADR Indicator for cTrader on the D1 Timeframe
There are enough items in the input parameters to properly customize the indicator value display on the chart.
Suppose you use the Daily timeframe in the trading process. In this case, the indicator can also be configured; so that the ADR values are displayed as conveniently as possible on the chart (Fig.2 & 3).
Figure 2 — An 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
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
A ready-made form will help you not to forget important aspects of your technical specification.
You are free in your final choice and let it be the right one. Everyone profits!
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