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Average Daily Range Board

Average Daily Range (ADR)

How to use Average Daily Range (ADR) Indicator?

ADR is just a simple indicator tool to help trader identify the daily average range of an instrument. So for example we have the pairs EURUSD and that pairs usually makes a peak and bottom during the trading day and the point from the bottom to the peak point of this trading trading day create a range for that day, in which the pairs usually moves within it for example 80 pips ( 800 points so counted with the fifth digit), and the distance from these two points from bottom to peak is measured in points; we have created that indicator based on the idea of the custom ATR indicator but we illustrate the products on a dashboard  with digits to see; furthermore we add the functions for taking periods in days as average to calculate and also the alert functions, which will send to trader a notice that the usually average daily range of that instrument has been triggered. The illustration on a dashboard and the calculation thereof help the day trader a quick idea how many pips the instruments still have the free space to move up/down for the trading day. 

ADR Settings

  • Symbols to put, each symbol must be separated with a semicolon
  • Period: put number in day, 1= one day average calculate, 2= two days average calculate and so on...
  • BG: select your own background color
  • Alerts: On/off

Alert and notification options

  • Show pop-up messages - Set "true" to receive pop-up notifications
  • Send an e-mail - Set "true" to receive a notification e-mail
  • Send mobile notifications - Set "true" to receive mobile notifications
  • Play an alert sound - Set "true" to receive an audible notification


Display on chart

Dashboard with

  • Symbols name
  • Average Range
  • Today has moved in XYZ points up to now

Happy Trading!


Wan Ping Fei
Wan Ping Fei 2019.05.21 02:34 

User didn't leave any comment to the rating

Jessy 2019.05.08 17:35 

Great indicator, thanks!

I like the fact that the indicator hangs on one chart and controls a large number of tools, very convenient, a good idea!