+ADR (All_pairs)

Download script
Author: Copyright � Terry Nicholls
+ADR (All_pairs)

This script is designed to act as an information dashboard on a trading chart, providing traders with a clear overview of market volatility and specific price targets based on historical data. Instead of cluttering the chart with complex lines, it generates a clean text display at the top of the screen.

Core Functionality

Volatility Tracking (Average Daily Range) The script automatically calculates how many "pips" (the standard unit of price movement) a currency pair moves in a single day. It tracks this across several different timeframes to help traders understand the current market "stretch":

  • Daily Movement: Shows the range for Today and Yesterday.
  • Moving Averages: Provides the average daily range over 5, 10, 20, and 60 days. This helps a trader see if the market is currently moving more or less than usual compared to recent history.

Dynamic Stop-Loss Calculations One of the primary purposes of this script is to assist in risk management by calculating potential Stop-Loss levels based on the market's behavior:

  • Room Analysis: The logic identifies how much "room" is left in the current day's range compared to the average historical range.
  • Risk-to-Reward Integration: It uses a user-defined Risk-to-Reward ratio (defaulting to 3.0) to calculate theoretical Stop-Loss distances for both Long (buying) and Short (selling) positions.
  • Proportional Benchmarks: The script specifically calculates price points based on 50% and 75% of the daily ranges, providing traders with specific "danger zones" or "target zones" where the market might reverse or exhaust itself.

User Experience Highlights

  • Real-Time Dashboard: Rather than requiring a trader to do manual math, the script displays all these values (Today, 1 Day, 5 Day, 10 Day, 20 Day, and 60 Day averages) in a horizontal row at the top of the chart.
  • Automated Currency Adjustments: The logic automatically detects if you are trading Japanese Yen (JPY) pairs or other currencies and adjusts the decimal calculations accordingly to ensure accuracy regardless of the asset.
  • Clean Visuals: The script is built to be "NoLine," meaning it avoids drawing messy lines across your price candles, keeping the chart clean while still providing all the necessary data points for informed decision-making.
Price Data Components
Series array that contains the highest prices of each barSeries array that contains the lowest prices of each bar
12 Views
0 Downloads
0 Favorites
+ADR (All_pairs) 
//+------------------------------------------------------------------+
//|                                                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
//{
	if (StringFind(Symbol(), "JPY", 0) > 0)
	   nD = D*100;
	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: " , 8, "Arial", RoyalBlue);
        ObjectSet("Avg_Dly_Rng1", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng1", OBJPROP_XDISTANCE, 5);
        ObjectSet("Avg_Dly_Rng1", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng2", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng2",DoubleToStr(nD ,0),8, "Arial", Tomato);
        ObjectSet("Avg_Dly_Rng2", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng2", OBJPROP_XDISTANCE, 50);
        ObjectSet("Avg_Dly_Rng2", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng3", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng3","1 Day: ", 8, "Arial", RoyalBlue);
        ObjectSet("Avg_Dly_Rng3", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng3", OBJPROP_XDISTANCE, 90);
        ObjectSet("Avg_Dly_Rng3", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng4", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng4",DoubleToStr(R1 ,0),8, "Arial", Tomato);
        ObjectSet("Avg_Dly_Rng4", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng4", OBJPROP_XDISTANCE, 130);
        ObjectSet("Avg_Dly_Rng4", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng5", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng5","5 Day: ", 8, "Arial", RoyalBlue);
        ObjectSet("Avg_Dly_Rng5", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng5", OBJPROP_XDISTANCE, 170);
        ObjectSet("Avg_Dly_Rng5", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng6", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng6",DoubleToStr(R5 ,0),8, "Arial", Tomato);
        ObjectSet("Avg_Dly_Rng6", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng6", OBJPROP_XDISTANCE, 210);
        ObjectSet("Avg_Dly_Rng6", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng7", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng7","10 Day: ",8, "Arial", RoyalBlue);
        ObjectSet("Avg_Dly_Rng7", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng7", OBJPROP_XDISTANCE, 250);
        ObjectSet("Avg_Dly_Rng7", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng8", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng8",DoubleToStr(R10 ,0),8, "Arial", Tomato);
        ObjectSet("Avg_Dly_Rng8", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng8", OBJPROP_XDISTANCE, 300);
        ObjectSet("Avg_Dly_Rng8", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng9", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng9","20 Day: ",8, "Arial", RoyalBlue);
        ObjectSet("Avg_Dly_Rng9", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng9", OBJPROP_XDISTANCE, 340);
        ObjectSet("Avg_Dly_Rng9", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng10", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng10",DoubleToStr(R20 ,0),8, "Arial", Tomato);
        ObjectSet("Avg_Dly_Rng10", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng10", OBJPROP_XDISTANCE, 390);
        ObjectSet("Avg_Dly_Rng10", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng11", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng11","60 Day: ",8, "Arial", RoyalBlue);
        ObjectSet("Avg_Dly_Rng11", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng11", OBJPROP_XDISTANCE, 430);
        ObjectSet("Avg_Dly_Rng11", OBJPROP_YDISTANCE, 12);
        
        ObjectCreate("Avg_Dly_Rng12", OBJ_LABEL, 0, 0, 0);
        ObjectSetText("Avg_Dly_Rng12",DoubleToStr(R60 ,0),8, "Arial", Tomato);
        ObjectSet("Avg_Dly_Rng12", OBJPROP_CORNER, 0);
        ObjectSet("Avg_Dly_Rng12", OBJPROP_XDISTANCE, 480);
        ObjectSet("Avg_Dly_Rng12", OBJPROP_YDISTANCE, 12);


   return(0);
  }

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

Similar scripts

+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__1_5_10_20_60

This indicator calculates multi-period Average Daily Ranges and dynamically projects stop-loss levels based on percentage offsets of historical volatility.

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.

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.

GMACD_Signals_v2

(T_S_R)-Daily Range Calculator

Comments