Average Daily Range

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I wrote this indicator to plot the average daily range split by the daily open price... problem I'm having is getting it to correctly plot the a.d.r. correctly over less than daily time period charts. It will plot half the daily range above the daily open and half below the daily open on a daily chart, but not on 4hr, 1hr, 30m, 15m, 5m or 1m charts. Perhaps someone with more indicator skills can add to the code to get it to correctly plot?

Files:
adr_gbpusd.gif  13 kb
avg_daily_range.mq4  2 kb
 

The attached will plot the period's average price range split by the Period's bar open price on any time period...

Files:
average_range.mq4  2 kb
 

Made it an extern variable, pretty fun indicator.

 

Average Daily range

The (TSR) indicator on the FXiGor DYNAMIC Breakout system on the Daily Average does just what you want the default loads 50% of the DAR above and below the Daily Open and the average % is also adjustable

cja

 

Request: Looking for indicator

Hi,

I'm working on a new strategy, but I'm short an important indicator that could really help out.

I'm looking for an Average Range indicator that will show in the upper corner (or selectable corner):

================================================== ========

AvgRange: Yesterday Week Month 180Days "X" Days

PIPS: pp ppp ppp ppp ppp

================================================== ========

Today High: pppp ADR High: pppp

Today Low: pppp ADR Low: pppp

Pips to today High: pp Pips to ADR High: pppp

Pips to today Low: pp Pips to ADR Low: pppp

================================================== ========

1. ADR calculations are:

"X" Days = is variable, e.g. 3,4,5

calculating daily trading range and averages;

Daily High - Daily Low = Daily range

Daily ranges are added up and divided by the number of days for simple period ADR.

2. "ADR High" number is the highest price during the "X" period

3. "ADR Low" number is the lowest price during the "X" period

4. the rest of the fields are pretty self-explanatory.

Anyone seen anything like this?

A lot of bank traders are paying more attention to ranges these days, so I think the info is pretty useful..

thanks!

 

Average daily ranges for 5 periods

Files:
adr_2.png  49 kb
adr_2.mq4  9 kb
 

Tampa thanks for this... just what I've been searching for. Oh and thanks for showing a picture of what it is. Cant tell you how many I've downloaded and tried but wasnt what I wanted cause there was no picture.

 
Many thanks for this Indicator - staribht forward and effective.
 
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Don't resurrect old threads without a very good reason. A lot has changed since Build 600 and Higher. 2014.02.03
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