Average Daily Range (ADR) Indicator for MT4

The Average Daily Range (ADR) Indicator is a powerful tool for forex traders. It calculates the average range of a currency pair in pips over a 14-day period. By understanding the daily trading range, traders can gauge market volatility and adjust their strategies accordingly.

Key Features:

1. Calculation of ADR:
   • The ADR value is derived by summing up the daily high-to-low ranges of the past 14 days and dividing the result by 14.
   • For example, if the daily ranges for the past 14 days are: 55, 76, 34, 42, 66, 89, 65, 45, 22, 101, 78, 33, 67, and 90 pips, the ADR value would be approximately 62 pips.
2. Display on Chart:
   • The ADR value is shown on the top left corner of the chart.
   • It displays both the ADR values for the past 14 days and the current day’s ADR value.
3. Volatility Assessment:
   • When today’s ADR value is higher than the 14-day average, it indicates increased volatility.
   • Conversely, a lower ADR value suggests a quieter market.
4. Trading Strategies:
   • Range Trading: Traders can use ADR to identify potential support and resistance zones.
   • Breakout Trading: A breakout trade can be initiated when the current ADR value exceeds the 14-day average, and the high or low of the day is broken.

Recommended Settings:

• Minimum Deposit: There is no specific minimum deposit requirement to use the ADR Indicator. It works with any account size.
• Time Frame: The ADR Indicator can be applied to any time frame, but it’s commonly used on daily charts.
• Currency Pairs: It works well with all major and minor currency pairs.

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀

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