ADR Levels MT5

Know before you take the trade how much of today's move is already gone. ADR Levels MTF prints the two prices a normal day can still reach, marks the bar where the range was fully spent, and puts the per cent already used on the panel, so a late entry stops looking like a fresh one. It builds its days from the bars of the chart you are on, which means the same numbers on M5 and on H4 and no second data feed to wait for. It is free: no trial, no locked features, no upgrade page.

The average daily range is the mean of the last completed days' ranges, five days out of the box. From it the current day gets two projections: the day's low plus the ADR, which is as far up as an average day would carry, and the day's high minus the ADR for the other side. The line between them is the middle of the range the day has already covered.

Days are cut out of the chart's own bars by their timestamps rather than requested from D1, so the product reads the same on every timeframe and the scanner needs one series per symbol instead of two. The price of that choice is declared: on a low timeframe the scanning window holds few days, so the window ships larger here and the ADR is taken over the completed days that were actually found. Three days instead of five is a less steady ADR, but it is an honest number rather than an empty cell.

What is on the chart

Drawn in the price window: the middle of the day's covered range as a line coloured by which half price is in, the two projected ADR levels as thin bands, two shades between them, and the arrows on the bar where the day's range finally reached its ADR. The signal is range exhaustion, once per day, and its sign is opposite to the day's direction, because a day that has already travelled a full ADR is more likely finishing than starting.

The panel

A canvas panel on the price chart, draggable, collapsible, closeable. It shows the timeframe in force and the setting values actually being used. It says what the last closed bar was: a BUY signal, a SELL signal, or neither. And it says whether the numbers on screen came from the properties dialog or from the panel, and how many of them were changed by hand.

Below that sit the settings the panel can move, with their current values. The gear opens a three-tab sheet.

Values covers the timeframe, the number of completed days the average is taken over, five by default, and the strong exhaustion threshold, a day past 130 per cent of its ADR being graded two instead of one. Styles covers the palette, the line and its width, the arrow size, the two projected levels and the two shades, each with a switch of its own. Every Values row has steppers, a range and a sentence of help; the Styles tab changes appearance only and never triggers a recomputation.

The Alerts tab covers the master switch, the per event switches, the channels, the cooldown in minutes and a test alert.

Three colour schemes: dark, light, and a colour-blind safe one that uses blue and orange rather than red and green. Everything about the panel, including every value changed on the sheet, is stored per chart and survives a timeframe change and a terminal restart. The interface is English.

Alerts

Off out of the box. Three events: a BUY signal, a SELL signal, and a touch of the day middle line, which is the pull back event rather than a flip. Each has a switch of its own.

Channels: a popup window, a sound, a push to the mobile terminal and e-mail. There are per-event and per-channel switches, and a cooldown that defaults to two hours.

Alerts fire on the last closed bar. Two further alerts, off by default, speak on the forming bar within a chosen number of seconds of its close, and they are labelled early because a flip that exists mid-bar can un-happen. Telegram is not part of this product.

Signals on the forming bar

There is one switch that matters more than the others, and it is in the Values tab as well as in the inputs: whether buffers and arrows are allowed on the bar that is still forming.

With it on, which is the shipped default, you see a flip as soon as the market makes it. Sometimes that flip is undone before the bar closes and the arrow disappears. With it off, nothing is written on the forming bar at all: there is no repaint of any kind, and every signal arrives one bar late by construction.

Both behaviours are legitimate. The product does not pick for you and it does not hide which one it is doing: the panel and the setting name both say so.

Multi-timeframe

The Timeframe setting computes on a higher timeframe and draws the result here. Only closed senior bars are read: a chart bar shows the newest senior bar that had already closed by that chart bar's own close, so the flip lands on the bar that closes together with the senior bar, and nothing is drawn that could not have been known in real time.

The foreign series is built in the background. The first read of it can come back empty, the indicator retries, and the panel says whether it is waiting for a download or looking at a genuine shortage of history. It never fails initialisation over missing bars.

Reading it from an EA

Sixteen buffers, all readable through iCustom and CopyBuffer. Buffer 0, Buy, carries the arrow price on a BUY bar and EMPTY_VALUE otherwise, and is not drawn; buffer 1, Sell, is the same for a SELL. Buffers 2 to 5 belong to the two fills and are display plumbing, not for reading. Buffer 6 is the day middle line while the trend is up and buffer 7 is the same line while it is down; on the turning bar both hold a value, which is what keeps the drawn line unbroken. Buffer 8 is the upper projected level, the day's low plus the ADR and buffer 9 is the lower projected level, the day's high minus the ADR. Buffers 10 and 11 are the drawn copies of buffers 0 and 1. Buffer 12, Signal, is +1 on a BUY bar, -1 on a SELL bar and 0 otherwise. Buffer 13 is Override, buffer 14 is the day middle line as one unbroken series, and buffer 15 is the trend itself, 0 while up and 1 while down.

Buffer 16 is added by this port and sits after the whole shared map: the per cent of the ADR the day has already spent. It is scale free, so it compares one symbol with another, which is what the board sorts and grades on.

Buffers 0 and 1 are the contract: never painted, filled on every pass whatever the Styles tab says, and present in the Data Window. Hiding the arrows on the display cannot starve a strategy of the signal, because hiding is done by changing how a plot is drawn and never by emptying a buffer.

An instance created by iCustom is read only and always uses the parameters you passed. The Override buffer lets a strategy detect that a chart instance is running on numbers changed by hand from the panel.

Provenance

This is a port of ADR Levels. The average daily range and the levels built on it are public and trivial arithmetic with no single author, and this implementation was written from the definition. Two things are stated rather than hidden: the day is the server day, the one the terminal builds its own D1 bars from, and the ADR is progressive over whatever completed days the window found.

The product is called ADR Levels MTF because that is the name of the method, not because authorship of the method is claimed here. The original work belongs to its author.

Honest limits

The ADR describes an average day. It is not a forecast, and a trending day will run through both projections without anything being wrong with the calculation.

The exhaustion signal is a fade signal and it is written down as one here. It says the day has covered its usual distance, which is a reason to expect less follow through, not a reason to expect a reversal.

On a low timeframe with a short history the ADR can be built from fewer days than the setting asks for. The panel and the diagnostics say how many days were actually used, and a small count is a less reliable average.

The settings move every signal the product will ever show. Two configurations produce two different sets of signals, and neither of them is the true one.

No profit figure, win rate or backtest result is claimed here.