Average Daily Range - MetaTrader 4 Script - MQL5 #10654 - MT4/MT5 Resources
This indicator calculates the 5, 10, and 20 day average ranges.
There is a chart display in the upper left corner. It includes intraday changes in pips, color coded...for less than 20 pips up/down, it's yellow. Green indicates an increase of 20+ points, red indicates a decrease of 20+ points
It displays floating high/low price boxes.
Attachment download
📎TheGreedyPig_ADR_v6.mq4 (14.43 KB)
Source: MQL5 #10654
Average Daily Range - MetaTrader 4 Script - MQL5 #10654 Usage and Filtering Advice
Average Daily Range - MetaTrader 4 Script - MQL5 #10654 is a resource related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Focus on spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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