FDM ADR

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Author: Copyright � 2008, Forex Day Monster
FDM ADR

This script is designed as a market analysis tool that provides traders with a comprehensive overview of the Average Daily Range (ADR) for various financial assets. Instead of showing just one simple average, it calculates multiple layers of price movement data to help users understand how much an asset typically moves over different periods.

Core Functionality and Logic

1. Multi-Period Volatility Analysis The tool scans historical daily price data (specifically the difference between the highest and lowest prices reached in a single day) across four distinct timeframes:

  • The previous day's range.
  • A 5-day rolling average of those ranges.
  • A 10-day rolling average of those ranges.
  • A 20-day rolling average of those ranges.

It then combines these figures to calculate a primary Average Daily Range, giving the user a balanced view of short-term and long-term volatility.

2. Dynamic Price "Room" Calculations Beyond just showing averages, the script calculates the available "room" for price movement relative to the current market price. It determines:

  • Room UP: The distance remaining before the price hits a specific target based on the average range.
  • Room DN: The distance remaining before the price hits a target in the opposite direction.

These calculations are tied to a customizable Risk-to-Reward ratio, allowing traders to project potential profit or loss zones based on the mathematical volatility of the asset.

3. Moving Average & Technical Indicators The script also identifies and displays specific technical levels for the current day, including:

  • Daily High/Low Projections: Using smoothed moving averages (SMMA and EMA) to identify expected high and low boundaries for the current trading session.
  • Current Price Tracking: It displays the real-time price alongside these projections to help traders visualize where the market is currently positioned within its daily limits.

Visual Presentation

The script generates a comprehensive dashboard on the trading chart. Rather than cluttering the price candles, it places all this data in a separate window or dedicated label area. It neatly organizes the following information for the user:

  • Asset Identification: Clearly shows the symbol and current timeframe.
  • Historical Stats: Lists the specific ranges for 1, 5, 10, and 20 days.
  • Active Metrics: Displays the calculated Average Daily Range and the "Room" available in both upward and downward directions.
  • Key Levels: Provides a clear readout of the projected Daily High, Daily Low, and the current Price.

Summary for Traders

This tool is built to answer the question: "How much can this asset move today, and how much room is left?" By calculating averages across multiple timeframes and projecting "Room" based on volatility, it helps traders set more informed expectations for price action and manage their risk more effectively.

Price Data Components
Series array that contains the highest prices of each barSeries array that contains the lowest prices of each bar
Indicators Used
Moving average indicator
Miscellaneous
It issuies visual alerts to the screen
9 Views
0 Downloads
0 Favorites
FDM ADR 
/*
*/
#property copyright "Copyright © 2008, Forex Day Monster"
#property link      "http://www.forexprofitmonster.com"

#property indicator_separate_window

extern double Risk_to_Reward_ratio = 3.0;
int gi_unused_84;

int init() {
   IndicatorShortName("FDM ADR");
   if (Symbol() == "GBPJPY" || Symbol() == "EURJPY" || Symbol() == "USDJPY" || Symbol() == "GOLD" || Symbol() == "USDMXN") gi_unused_84 = 4;
   if (Symbol() == "GBPUSD" || Symbol() == "EURUSD" || Symbol() == "NZDUSD" || Symbol() == "USDCHF" || Symbol() == "USDCAD" || Symbol() == "AUDUSD" || Symbol() == "EURUSD" ||
      Symbol() == "EURCHF" || Symbol() == "EURGBP" || Symbol() == "EURCAD" || Symbol() == "EURAUD" || Symbol() == "AUDNZD") gi_unused_84 = 4;
   return (0);
}

int deinit() {
   return (0);
}

int start() {
   string ls_0 = "2015.11.01";
   int l_str2time_8 = StrToTime(ls_0);
   if (TimeCurrent() >= l_str2time_8) {
      Alert(" Trial version has expired! Email support@forexprofitmonster.com with broker account number for rights to full version!");
      return (0);
   }
   int li_12 = 0;
   int li_16 = 0;
   int li_20 = 0;
   int li_24 = 0;
   int li_28 = 0;
   bool li_32 = FALSE;
   bool li_36 = FALSE;
   bool li_40 = FALSE;
   bool li_44 = FALSE;
   double ld_48 = 0;
   double ld_56 = 0;
   double l_ilow_64 = 0;
   double l_ihigh_72 = 0;
   string ls_80 = "";
   int li_88 = 0;
   li_12 = (iHigh(NULL, PERIOD_D1, 1) - iLow(NULL, PERIOD_D1, 1)) / Point;
   for (li_88 = 1; li_88 <= 5; li_88++) li_16 = li_16 + (iHigh(NULL, PERIOD_D1, li_88) - iLow(NULL, PERIOD_D1, li_88)) / Point;
   for (li_88 = 1; li_88 <= 10; li_88++) li_20 = li_20 + (iHigh(NULL, PERIOD_D1, li_88) - iLow(NULL, PERIOD_D1, li_88)) / Point;
   for (li_88 = 1; li_88 <= 20; li_88++) li_24 = li_24 + (iHigh(NULL, PERIOD_D1, li_88) - iLow(NULL, PERIOD_D1, li_88)) / Point;
   li_16 /= 5;
   li_20 /= 10;
   li_24 /= 20;
   li_28 = (li_12 + li_16 + li_20 + li_24) / 4;
   l_ilow_64 = iLow(NULL, PERIOD_D1, 0);
   l_ihigh_72 = iHigh(NULL, PERIOD_D1, 0);
   li_32 = li_28 - (Bid - l_ilow_64) / Point;
   li_36 = li_28 - (l_ihigh_72 - Bid) / Point;
   li_40 = li_32 / Risk_to_Reward_ratio;
   ld_48 = Bid - li_40 * Point;
   li_44 = li_36 / Risk_to_Reward_ratio;
   ld_56 = Bid + li_44 * Point;
   Comment(ls_80);
   string l_timeframe_92 = Period();
   ObjectCreate("FDM ADR", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR", StringSubstr(Symbol(), 0), 12, "Arial Bold", White);
   ObjectSet("FDM ADR", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR", OBJPROP_XDISTANCE, 125);
   ObjectSet("FDM ADR", OBJPROP_YDISTANCE, 2);
   ObjectCreate("FDM ADR1", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR1", StringSubstr(l_timeframe_92, 0), 12, "Arial Bold", CadetBlue);
   ObjectSet("FDM ADR1", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR1", OBJPROP_XDISTANCE, 210);
   ObjectSet("FDM ADR1", OBJPROP_YDISTANCE, 2);
   ObjectCreate("FDM ADR2", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR2", "Avg Daily Range:", 10, "Arial Bold", CadetBlue);
   ObjectSet("FDM ADR2", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR2", OBJPROP_XDISTANCE, 375);
   ObjectSet("FDM ADR2", OBJPROP_YDISTANCE, 2);
   ObjectCreate("FDM ADR3", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR3", DoubleToStr(li_28, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR3", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR3", OBJPROP_XDISTANCE, 505);
   ObjectSet("FDM ADR3", OBJPROP_YDISTANCE, 2);
   ObjectCreate("FDM ADR4", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR4", "Prev 01 Day Range:", 10, "Arial ", LightSteelBlue);
   ObjectSet("FDM ADR4", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR4", OBJPROP_XDISTANCE, 125);
   ObjectSet("FDM ADR4", OBJPROP_YDISTANCE, 20);
   ObjectCreate("FDM ADR5", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR5", DoubleToStr(li_12, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR5", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR5", OBJPROP_XDISTANCE, 260);
   ObjectSet("FDM ADR5", OBJPROP_YDISTANCE, 20);
   ObjectCreate("FDM ADR6", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR6", "Prev 05 Days Range:", 10, "Arial ", LightSteelBlue);
   ObjectSet("FDM ADR6", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR6", OBJPROP_XDISTANCE, 125);
   ObjectSet("FDM ADR6", OBJPROP_YDISTANCE, 35);
   ObjectCreate("FDM ADR7", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR7", DoubleToStr(li_16, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR7", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR7", OBJPROP_XDISTANCE, 260);
   ObjectSet("FDM ADR7", OBJPROP_YDISTANCE, 35);
   ObjectCreate("FDM ADR8", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR8", "Prev 10 Days Range:", 10, "Arial ", LightSteelBlue);
   ObjectSet("FDM ADR8", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR8", OBJPROP_XDISTANCE, 375);
   ObjectSet("FDM ADR8", OBJPROP_YDISTANCE, 20);
   ObjectCreate("FDM ADR9", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR9", DoubleToStr(li_20, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR9", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR9", OBJPROP_XDISTANCE, 505);
   ObjectSet("FDM ADR9", OBJPROP_YDISTANCE, 20);
   ObjectCreate("FDM ADR10", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR10", "Prev 20 Days Range:", 10, "Arial ", LightSteelBlue);
   ObjectSet("FDM ADR10", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR10", OBJPROP_XDISTANCE, 375);
   ObjectSet("FDM ADR10", OBJPROP_YDISTANCE, 35);
   ObjectCreate("FDM ADR11", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR11", DoubleToStr(li_24, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR11", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR11", OBJPROP_XDISTANCE, 505);
   ObjectSet("FDM ADR11", OBJPROP_YDISTANCE, 35);
   ObjectCreate("FDM ADR12", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR12", "Room UP:", 10, "Arial ", LightSteelBlue);
   ObjectSet("FDM ADR12", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR12", OBJPROP_XDISTANCE, 600);
   ObjectSet("FDM ADR12", OBJPROP_YDISTANCE, 20);
   ObjectCreate("FDM ADR13", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR13", DoubleToStr(li_32, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR13", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR13", OBJPROP_XDISTANCE, 700);
   ObjectSet("FDM ADR13", OBJPROP_YDISTANCE, 20);
   ObjectCreate("FDM ADR14", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR14", "Room DN:", 10, "Arial ", LightSteelBlue);
   ObjectSet("FDM ADR14", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR14", OBJPROP_XDISTANCE, 600);
   ObjectSet("FDM ADR14", OBJPROP_YDISTANCE, 35);
   ObjectCreate("FDM ADR15", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("FDM ADR15", DoubleToStr(li_36, 0), 12, "Arial Bold", Orange);
   ObjectSet("FDM ADR15", OBJPROP_CORNER, 0);
   ObjectSet("FDM ADR15", OBJPROP_XDISTANCE, 700);
   ObjectSet("FDM ADR15", OBJPROP_YDISTANCE, 35);
   double l_ima_100 = iMA(Symbol(), PERIOD_D1, 1, 0, MODE_SMMA, PRICE_HIGH, 0);
   double l_ima_108 = iMA(Symbol(), PERIOD_D1, 1, 0, MODE_EMA, PRICE_LOW, 0);
   double ld_unused_116 = iMA(Symbol(), PERIOD_D1, 1, 0, MODE_SMMA, PRICE_HIGH, 1);
   double ld_unused_124 = iMA(Symbol(), PERIOD_D1, 1, 0, MODE_EMA, PRICE_LOW, 1);
   ObjectCreate("high", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("high", DoubleToStr(l_ima_100, Digits), 12, "Arial Bold", Orange);
   ObjectSet("high", OBJPROP_CORNER, 0);
   ObjectSet("high", OBJPROP_XDISTANCE, 890);
   ObjectSet("high", OBJPROP_YDISTANCE, 20);
   ObjectCreate("high2", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("high2", "DailyHigh", 9, "Arial Bold", CadetBlue);
   ObjectSet("high2", OBJPROP_CORNER, 0);
   ObjectSet("high2", OBJPROP_XDISTANCE, 890);
   ObjectSet("high2", OBJPROP_YDISTANCE, 2);
   ObjectCreate("low", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("low", DoubleToStr(l_ima_108, Digits), 12, "Arial Bold", Orange);
   ObjectSet("low", OBJPROP_CORNER, 0);
   ObjectSet("low", OBJPROP_XDISTANCE, 830);
   ObjectSet("low", OBJPROP_YDISTANCE, 20);
   ObjectCreate("low2", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("low2", "DailyLow", 9, "Arial Bold", CadetBlue);
   ObjectSet("low2", OBJPROP_CORNER, 0);
   ObjectSet("low2", OBJPROP_XDISTANCE, 830);
   ObjectSet("low2", OBJPROP_YDISTANCE, 2);
   double l_ima_132 = iMA(Symbol(), 0, 1, 0, MODE_EMA, PRICE_CLOSE, 0);
   ObjectCreate("high3", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("high3", DoubleToStr(l_ima_132, Digits), 12, "Arial Bold", Coral);
   ObjectSet("high3", OBJPROP_CORNER, 0);
   ObjectSet("high3", OBJPROP_XDISTANCE, 890);
   ObjectSet("high3", OBJPROP_YDISTANCE, 35);
   ObjectCreate("high4", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("high4", DoubleToStr(l_ima_132, Digits), 12, "Arial Bold", Coral);
   ObjectSet("high4", OBJPROP_CORNER, 0);
   ObjectSet("high4", OBJPROP_XDISTANCE, 830);
   ObjectSet("high4", OBJPROP_YDISTANCE, 35);
   ObjectCreate("low4", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("low4", "T/Day", 9, "Arial ", LightSteelBlue);
   ObjectSet("low4", OBJPROP_CORNER, 0);
   ObjectSet("low4", OBJPROP_XDISTANCE, 790);
   ObjectSet("low4", OBJPROP_YDISTANCE, 20);
   ObjectCreate("low5", OBJ_LABEL, WindowFind("FDM ADR"), 0, 0);
   ObjectSetText("low5", "Price", 9, "Arial ", LightSteelBlue);
   ObjectSet("low5", OBJPROP_CORNER, 0);
   ObjectSet("low5", OBJPROP_XDISTANCE, 790);
   ObjectSet("low5", OBJPROP_YDISTANCE, 37);
   return (0);
}

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