adr__1_5_10_20_60

Download script
Author: Copyright � Terry Nicholls
adr__1_5_10_20_60

This script is designed to provide traders with a clear visual summary of market volatility and price range data directly on their trading charts. It acts as an informational dashboard that calculates and displays "Average Daily Ranges" (ADR), which helps traders understand how much a specific currency pair typically moves within a single day across different timeframes.

Core Functionality

The primary purpose of this tool is to monitor historical price movement to help the user gauge current market behavior. It automatically scans past data to calculate the following metrics:

  • Real-Time Range Tracking: It identifies the price movement (in pips) for the current day.
  • Historical Averages: It calculates the average daily range over several distinct periods, including 1-day, 5-day, 10-day, 20-day, and 60-day windows.
  • Dynamic Calculations: The tool provides a weighted average of these ranges to give a more balanced view of "normal" market volatility.

Risk Management Support

Beyond just showing averages, the logic includes specific calculations intended to assist with trade planning:

  • Stop Loss Assistance: Based on the calculated averages and a user-defined "Risk to Reward" ratio, the script identifies potential stop-loss levels.
  • Proportional Boundaries: It calculates specific retracement points (such as 50% or 75% of the daily range). This allows traders to identify "exhaustion" points or areas where price might realistically stall or reverse.
  • Room Assessment: The logic calculates "Room Up" and "Room Down," which essentially tells the trader how much space is left in the current day's range before the price hits its daily high or low.

Visual Presentation

Rather than drawing lines across your chart (which can clutter the workspace), this script uses a clean text-based display at the top of the screen. It organizes the data into a horizontal row, showing the calculated pips for each time period side-by-side in a bold, easy-to-read format.

Summary for the User

By using this tool, you can quickly see if today's price movement is "normal" compared to the last month or year. It helps you answer three critical questions before entering a trade:

  1. How much has the market moved today?
  2. How much does it typically move over the next few days?
  3. Where is a mathematically sound place to set a stop-loss based on that volatility?
Price Data Components
Series array that contains the highest prices of each barSeries array that contains the lowest prices of each bar
8 Views
0 Downloads
0 Favorites
adr__1_5_10_20_60 
//+------------------------------------------------------------------+
//|                                                ADR_SL-NoLine.mq4 |
//|                                       Copyright © Terry Nicholls |
//| Some code modified from TSR_Ranges.mq4 by Ogeima                 |
//| made for FXiGoR for the TSR Trend Slope Retracement method       |
//| modified to the DYNAMIC Daily Range Breakout System              |
//+------------------------------------------------------------------+

/* This will display at the top of your chart the Average Daily Range (pip movement)
   for Yesterday, Today, and 5, 10, and 20 day periods.
   Below that will display the number of pips for a Stop Loss based on 1/2 and 3/4
   of the ADR. */

#property copyright "Copyright © Terry Nicholls"

#property indicator_chart_window

extern double  Risk_to_Reward_ratio =  3.0;

int nDigits;
double today_high=0;
double today_low=0;
double D=0;
double nD=0;
double nhR1=0;
double nqR1=0;
double nhR5=0;
double nqR5=0;
double nhR10=0;
double nqR10=0;
double nhR20=0;
double nqR20=0;
double nhR60=0;
double nqR60=0;
double rates_d1[2][6];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+

int init()
  {
   IndicatorShortName("Avg_Dly_Rng");
   return(0);
  }

//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+

int deinit()
  {
   ObjectDelete("Avg_Dly_Rng1");
   ObjectDelete("Avg_Dly_Rng2");
   ObjectDelete("Avg_Dly_Rng3");
   ObjectDelete("Avg_Dly_Rng4");
   ObjectDelete("Avg_Dly_Rng5");
   ObjectDelete("Avg_Dly_Rng6");
   ObjectDelete("Avg_Dly_Rng7");
   ObjectDelete("Avg_Dly_Rng8");
   ObjectDelete("Avg_Dly_Rng9");
   ObjectDelete("Avg_Dly_Rng10");
   ObjectDelete("Avg_Dly_Rng11");
   ObjectDelete("Avg_Dly_Rng12");
   ObjectDelete("Avg_Dly_Rng13");
   ObjectDelete("Avg_Dly_Rng14");
   ObjectDelete("Avg_Dly_Rng15");
   ObjectDelete("Avg_Dly_Rng16");
   ObjectDelete("Avg_Dly_Rng17");
   ObjectDelete("Avg_Dly_Rng18");
   ObjectDelete("Avg_Dly_Rng19");
   ObjectDelete("Avg_Dly_Rng20");
   ObjectDelete("Avg_Dly_Rng21");
   ObjectDelete("Avg_Dly_Rng22");
   ObjectDelete("Avg_Dly_Rng23");
   ObjectDelete("Avg_Dly_Rng24");
   ObjectDelete("Avg_Dly_Rng25");
   ObjectDelete("Avg_Dly_Rng26");
   ObjectDelete("Avg_Dly_Rng27");
   return(0);
  }

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+

int start()
  {
ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);   //---- Get new daily prices

   int R1=0,R5=0,R10=0,R20=0,R60=0,RAvg=0;
   int RoomUp=0,RoomDown=0,StopLoss_Long=0,StopLoss_Short=0;
   double   SL_Long=0,SL_Short=0;
   double   low0=0,high0=0;
   string   Text="";
   int i=0;

today_high = rates_d1[0][3];
today_low = rates_d1[0][2];

D = (today_high - today_low);

   R1 =  (iHigh(NULL,PERIOD_D1,1)-iLow(NULL,PERIOD_D1,1))/Point;
   for(i=1;i<=5;i++)
      R5    =    R5  +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;
   for(i=1;i<=10;i++)
      R10   =    R10 +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;
   for(i=1;i<=20;i++)
      R20   =    R20 +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;
   for(i=1;i<=60;i++)
      R60   =    R60 +  (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;   

   R5 = R5/5;
   R10 = R10/10;
   R20 = R20/20;
   R60 = R60/60;
   RAvg  =  (R1+R5+R10+R20+R60)/5;    

   low0  =  iLow(NULL,PERIOD_D1,0);
   high0 =  iHigh(NULL,PERIOD_D1,0);
   RoomUp   =  RAvg - (Bid - low0)/Point;
   RoomDown =  RAvg - (high0 - Bid)/Point;
   StopLoss_Long  =  RoomUp/Risk_to_Reward_ratio;
   SL_Long        =  Bid - nhR1*Point;
   StopLoss_Short =  RoomDown/Risk_to_Reward_ratio;
   SL_Short       =  Bid + nhR1*Point;

if (D > 1)
{
	nD = D;
}
else
{
	nD = D*10000;
}

if (R1 > 1)
{
	nhR1 = R1/2;
}
else
{
	nhR1 = 0;
}

if (R1 > 1)
{
	nqR1 = R1*0.75;
}
else
{
	nqR1 = 0;
}

if (R5 > 1)
{
	nhR5 = R5/2;
}
else
{
	nhR5 = 0;
}

if (R5 > 1)
{
	nqR5 = R5*0.75;
}
else
{
	nqR5 = 0;
}

if (R10 > 1)
{
	nhR10 = R10/2;
}
else
{
	nhR10 = 0;
}

if (R10 > 1)
{
	nqR10 = R10*0.75;
}
else
{
	nqR20 = 0;
}

if (R20 > 1)
{
	nhR20 = R20/2;
}
else
{
	nhR20 = 0;
}

if (R20 > 1)
{
	nqR20 = R20*0.75;
}
else
{
	nqR20 = 0;
}

// Displays Average Daily Range for Today, Yesterday, 5 Days, 10 Days, and 20 Days

        ObjectCreate("Avg_Dly_Rng1", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng1","Today: ", 12, "Arial Bold", RoyalBlue);
        ObjectSet("Avg_Dly_Rng1", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng1", OBJPROP_XDISTANCE, 225);
        ObjectSet("Avg_Dly_Rng1", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng2", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng2",DoubleToStr(nD ,0),12, "Arial Bold", Tomato);
        ObjectSet("Avg_Dly_Rng2", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng2", OBJPROP_XDISTANCE, 285);
        ObjectSet("Avg_Dly_Rng2", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng3", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng3","1 Day: ", 12, "Arial Bold", RoyalBlue);
        ObjectSet("Avg_Dly_Rng3", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng3", OBJPROP_XDISTANCE, 325);
        ObjectSet("Avg_Dly_Rng3", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng4", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng4",DoubleToStr(R1 ,0),12, "Arial Bold", Tomato);
        ObjectSet("Avg_Dly_Rng4", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng4", OBJPROP_XDISTANCE, 380);
        ObjectSet("Avg_Dly_Rng4", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng5", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng5","5 Day: ", 12, "Arial Bold", RoyalBlue);
        ObjectSet("Avg_Dly_Rng5", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng5", OBJPROP_XDISTANCE, 420);
        ObjectSet("Avg_Dly_Rng5", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng6", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng6",DoubleToStr(R5 ,0),12, "Arial Bold", Tomato);
        ObjectSet("Avg_Dly_Rng6", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng6", OBJPROP_XDISTANCE, 475);
        ObjectSet("Avg_Dly_Rng6", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng7", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng7","10 Day: ", 12, "Arial Bold", RoyalBlue);
        ObjectSet("Avg_Dly_Rng7", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng7", OBJPROP_XDISTANCE, 515);
        ObjectSet("Avg_Dly_Rng7", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng8", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng8",DoubleToStr(R10 ,0),12, "Arial Bold", Tomato);
        ObjectSet("Avg_Dly_Rng8", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng8", OBJPROP_XDISTANCE, 579);
        ObjectSet("Avg_Dly_Rng8", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng9", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng9","20 Day: ", 12, "Arial Bold", RoyalBlue);
        ObjectSet("Avg_Dly_Rng9", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng9", OBJPROP_XDISTANCE, 619);
        ObjectSet("Avg_Dly_Rng9", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng10", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng10",DoubleToStr(R20 ,0),12, "Arial Bold", Tomato);
        ObjectSet("Avg_Dly_Rng10", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng10", OBJPROP_XDISTANCE, 683);
        ObjectSet("Avg_Dly_Rng10", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng11", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng11","60 Day: ", 12, "Arial Bold", RoyalBlue);
        ObjectSet("Avg_Dly_Rng11", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng11", OBJPROP_XDISTANCE, 723);
        ObjectSet("Avg_Dly_Rng11", OBJPROP_YDISTANCE, 2);
        
        ObjectCreate("Avg_Dly_Rng12", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng12",DoubleToStr(R60 ,0),12, "Arial Bold", Tomato);
        ObjectSet("Avg_Dly_Rng12", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng12", OBJPROP_XDISTANCE, 785);
        ObjectSet("Avg_Dly_Rng12", OBJPROP_YDISTANCE, 2);


   return(0);
  }

//+------------------------------------------------------------------+

Similar scripts

+ADR (All_pairs)

This indicator calculates multi-period Average Daily Ranges and dynamically computes stop-loss levels based on specific volatility coefficients and user-defined risk-to-reward ratios.

+ADR (1_5_10_20_60)

This indicator calculates multi-period average daily ranges and dynamically computes potential stop-loss levels based on specific volatility retracements.

adr_sl-noline

This indicator calculates and visualizes multi-period average daily ranges to provide precise stop-loss benchmarks based on proportional volatility contracts.

BreakOutRSI-1

This indicator identifies market structural shifts by mapping price action against 16-period high/low extremes and average volatility zones while filtering for RSI momentum alignment.

_2523(T_S_R)-Daily Range Calculator _v1

This indicator calculates multi-period historical daily ranges to project dynamic stop-loss levels based on a user-defined risk-to-reward ratio and current price proximity to daily extremes.

DIGIZEROLAG

This indicator aggregates stochastic momentum across six concurrent timeframes to visualize multi-dimensional trend direction and sentiment through dynamic color-coded signals.

_DIGISTOCH-1

This indicator synchronizes and visualizes real-time momentum across six distinct timeframes simultaneously, utilizing dynamic color-coding to signal trend strength and exhaustion zones.

GMACD_Signals_v2

This indicator synthesizes MACD data across multiple timeframes to identify concurrent trend alignment, structural strength, and potential price corrections.

digistoch_versi_had

This indicator synchronizes stochastic momentum across six distinct timeframes to identify concurrent trend alignment and execute multi-layer bullish or bearish entry signals.

DIGISTOCH_001

This indicator displays color-coded trend signals and stochastic values from multiple timeframes, offering a quick overview of potential trading opportunities.

adr_sl-noline_mod

This indicator calculates multi-period Average Daily Ranges and dynamically projects precise Stop Loss levels based on 50% and 75% retracement benchmarks.

Comments