The ADR, better known as the Average Daily Range Forex indicator for Metatrader 4 displays the ADR value for 6 different time periods.
It displays all ADR values directly on the activity chart for the following time periods: today, 1 day, 5 days, 10 days, 20 days and 60 days.
It gives you an idea about the currency pair’s volatility for the different time periods.
Some traders use the ADR values to calculate profit targets and stop loss placement.
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6 Time Period Average Daily Range Forex Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With Average Daily Range Technical Analysis Chart Indicator
This Metatrader 4 indicator does not generate any trading signals. Incorporate the ADR indicator into your own Forex system or combine with other technical indicators (trend following indicators, oscillators,..).
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Risk to reward ratio, colors, width, style.
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Average Daily Range
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.