OPEN-SOURCE SCRIPT
Updated SD - Average Daily Range - Daily Weekly Monthly Yearly
Average Daily Range ('ADR') Indicator for TradingView
This script is based on the "Best 'ADR' Indicator for MT4" described at fxdayjob.com/best-adr-indicator-mt4.
Inputs:
See also:
- fxdayjob.com/best-adr-indicator-mt4
- pivotboss.com/2012/07/05/find-the-best-real-time-targets/
- jarrattdavis.com/average-daily-range-2/
This script is based on the "Best 'ADR' Indicator for MT4" described at fxdayjob.com/best-adr-indicator-mt4.
Inputs:
- Number of 'ADR' Back - Set the number of calendar days back to plot historical 'ADR'. The default value is 7.
Non-trading days are not taken into account.
A value of 7, for example, would display only 5 'ADR' for a 24x5 market. - Number of 'AWR' Back - Set the number of calendar weeks back to plot historical 'AWR'. The default value is 0.
- Number of 'AMR' Back - Set the number of calendar months back to plot historical 'AMR'. The default value is 0.
- Number of 'AYR' Back - Set the number of calendar years back to plot historical 'AYR'. The default value is 0.
- 'ADR' Length parameter - Set the length parameter of 'ADR'. The default value is 1.
- 'WDR' Length parameter - Set the length parameter of 'AWR'. The default value is 1.
- 'MDR' Length parameter - Set the length parameter of 'AMR'. The default value is 1.
- 'YDR' Length parameter - Set the length parameter of 'AYR'. The default value is 1.
See also:
- fxdayjob.com/best-adr-indicator-mt4
- pivotboss.com/2012/07/05/find-the-best-real-time-targets/
- jarrattdavis.com/average-daily-range-2/
Release Notes
Fix the incorrect ADR math which manifests when length parameter > 1. Thanks to @PierreAbdulahad for spotting and reporting it!Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.