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ADR ST Patterns
ADR ST patterns is a modification of the classical ADR indicator. This simple indicator corresponds to the parameters specified in the ST patterns Strategy (https://stpatterns.com/). Structural Target patterns are the market itself, which is consistently divided into components. For the formation of ST patterns, no trend lines, geometric proportions of the model itself, trading volume, or open market interest are needed. They are easily recognized and built only on the basis of breaking through the fractal levels and the distance to the Target. ST patterns remove from the market the uncertainty inherent in the previously known graphic compositions and simplify the work of the trader.
The indicator calculates the average daily range of completed trading days and divides this value by a given amount. The result is displayed as a graph in a separate window. It is possible to use the indicator on various time schedules.
This simple indicator corresponds to the parameters specified in the ST patterns Strategy.
- ADR Period - number of days used to calculate the average;
- Divider - divisor, to which the ADR is divided.
You can set the color and size of the chart in the Colors tab.