Average Daily Range

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Can somebody PLEASE tell me how to produce this information. Thanks in advance.

 

Open MT4

Go to Insert - indicators - oscillators - Average True range

then select the period you want to look back over and you have it on your chart.

good luck.

yakka

 
yakka:
Open MT4

Go to Insert - indicators - oscillators - Average True range

then select the period you want to look back over and you have it on your chart.

good luck.

yakka

And what is the similarity between Average True range and Average Daily range?

 

OK, so its not EXACTLY the same thing but pretty close.

Average daily range is the average of the daily highs minus the daily lows.

Average true range makes allowances for gaps which occur in daily data on stocks but which are rare in forex so the calculations will work out ALMOST the same.

I thought it would be easier to just use the built in function in mt4 as it will give you the same result.

I was just trying to help the guy, whats your point?

yakka

 

come on guys no fighting in the forums.. although similarities arent as high, his post was helpful to me.. thanks

 

Net change indicator better than daily average indicator

My hypothesis is that market moves are best understood as net change in pips from GMT 0 hrs. For example, EU rarely moves beyond 150 pips net change from GMT 0 hrs. There are similar rules for weekly and monthly.

I would be interested to explore this with the community.

Could someone pls help to adjust the attached daily range indicator / or develop a new one / so that it presents>

Net daily change in pips from GMT 0 hrs

Net weekly change in pips from GMT o hrs MOnday

Net monthly change from GMT 0 hrs day one of the month

Also, could someone pls advise on how to increase the font size in the attached indicator

cheers

IST

Files:
avg_daily_range.ex4  6 kb
 

Hi all,

I got a (nice) programmer to customize an existing indicator so that I would only see certain information, among which, the daily average of a pair.

Here is what it looks like:

It's called "Signal Bars Info". You can play with the settings to increase/decrease font size as well as to place it anywhere on your screen.

Hope this helps,

Ms Mel

Files:
signal_bars_info.mq4  9 kb
 

so for just a simple indicator of average daily range,

the average true range will do ya?

 
trading801:
so for just a simple indicator of average daily range, the average true range will do ya?

Hi there,

As you can see in the pic below, the ATR reads 135 for today (this is eurusd) but for the daily average, the indic reads 156. You can see, however, that the "high to low" also indicates 135. So if you're looking for the "high to low", ATR will do the trick. Just remember it's isn't the same as the Daily Average.

Hope this helps,

Ms_Mel

 
Ms_Mel:
Hi there,

As you can see in the pic below, the ATR reads 135 for today (this is eurusd) but for the daily average, the indic reads 156. You can see, however, that the "high to low" also indicates 135. So if you're looking for the "high to low", ATR will do the trick. Just remember it's isn't the same as the Daily Average.

Hope this helps,

Ms_Mel

thanks.. but i am not sure if i understood it well.. can you kindly explain the difference in layman terms?

 
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