Anyone got an ICT ADR indicator that works ShowX33 %.
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Computater707
Well-Known Member
Daytrader21
Member
Hi Guys,
Can anyone please guide me in the right direction about the ADR indicator and what parameters ICT uses? TimeZoneofData and TimeZoneOfSession parameters
If you take in consideration that each broker uses different time zone you will get different numbers.
Thx
Can anyone please guide me in the right direction about the ADR indicator and what parameters ICT uses? TimeZoneofData and TimeZoneOfSession parameters
If you take in consideration that each broker uses different time zone you will get different numbers.
Thx
Daytrader21
Member
One more thing, what is the formula for the ADR High/Low?
Thanks!
Thanks!
Daytrader21
Member
sqa said:
What do you mean by "drawn from the current day's high & low."? You don't have the current day H/L until the day is over.
Actually the the indicator computes yesterday's Day Range (Daily High - Daily Low), the previous 5, 10 and 20 days ranges. And it calculates the "Average Day Range" of these four ranges (yesterday's+ Prev 5 Day Range + Prev 10 Day Range + Prev 20 Day Range)/4.
Check out your indicator inputs at the bottom you have: First_av=5; Second_av=10; Third_av=20.
So, if yesterday's Day Range was 80, the Previous 5 Day Range was 110, the Previous 10 Day Range was 90 and the Previous 20 Day Range was 120, then the Average Day Range would be 100.
But what is the formula for calculating ADR H/L
We have other variable that we don't know what open daily candle time/ close daily candle time does ICT use?
And my question is how do you project the High and Low? This are not dynamic figures, when I post the indicator on my chart it shows a static figure for ADR H/L that remain the same all day. It is like this indicator is already predicting the H/L limits.
All the Best!
Computater707
Well-Known Member
Daytrader21 said:
This is a smoothed simple moving average of the ADR. I noticed that some days it was the same as the iATR some days different but usually not by much.
Also this is correct if you have set useATRFunction = False, Otherwise it uses the iATR function for the specified period- the default is 5 days. I modified it for my personal preference for the simpler faster number, it works for me.
“ But what is the formula for calculating ADR H/L “
from the Indi :
for(i=1;i<=First_av;i++)
R5 = R5 + (iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/mPoint;
R5 = R5/First_av;
in this case the simple moving average of the daily hi minus daily low of the past 5 days. iATR uses the same basic formula.
“ We have other variable that we don't know what open daily candle time/ close daily candle time does ICT use? “
from the original ICT_ADR indicator:
int ADROpenHour= 0; // start time for range calculation (LEAVE AT 0. PROGRAM DOESN'T WORK PROPERLY OTHERWISE.)
int ADRCloseHour= 24; // end time for range calculation (LEAVE AT 24. PROGRAM DOESN'T WORK PROPERLY OTHERWISE.)
They can't be changed
“And my question is how do you project the High and Low? This are not dynamic figures, when I post the indicator on my chart it shows a static figure for ADR H/L that remain the same all day. It is like this indicator is already predicting the H/L limits.”
This is not what I read in the indicators code. At the opening bar for a new day :
if (today_open==0) {
today_open= Open[idxfirstbaroftoday]; // should be open of today start trading hour
adr_high= today_open + adr;
adr_low= today_open - adr;
today_high= today_open;
today_low= today_open;
Thus the upper and lower lines are 2ADR apart at the open and as price action progresses through the day they converge above and below the open based upon the current daily high and low until the calculated ADR is or isn't reached by the end of day. If the ADR is reached they will be the ADR apart otherwise they will be wider.
As I interpret the indicators display it is not predicting the H/L limits. It is providing a sophisticated wild ass guess as to what the daily range may be and a visual clue as to how far price action may continue either up or down that day. This is enough to allow me to evaluate possible risk to reward in trade setups.
Daytrader21 since it looked to me like you had examined the code and wanted to understand it I answered your questions using the indicators code. I hope it made sense to you and answered your questions.
I am not a professional coder. I like to understand what I am using and may make simple changes for my personal use. Sometimes I share. I do not provide support for them. Use them at your own risk.
Datavis- welcome to FXgears- please forgive me if this seems a rude reply to your first post but... The modifications you suggest are possible but it is not a priority for me to make them. What I have done works for me. Feel free to make the changes yourself or find some one who will.
Re: TRO2015 DONATIONAL INDICATORS
Sounds like you are new to ICT concepts. A member called SQA has kindly set up a couple of pages full of ICT old and new videos, and that is the best place to go and learn. One of The sniper series explains kill zones, which is London Open, NY Open and London Close.
Go to the following links set by SQA, and go study:
1) http://fxgears.com/forum/index.php/topic,410.0.html
2) http://fxgears.com/forum/index.php/topic,563.msg12935/topicseen.html#msg12935
I take this opportunity to thank SQA for the hard work done in compiling all the videos in the above links. :thumbsup:
khamer said:
Sounds like you are new to ICT concepts. A member called SQA has kindly set up a couple of pages full of ICT old and new videos, and that is the best place to go and learn. One of The sniper series explains kill zones, which is London Open, NY Open and London Close.
Go to the following links set by SQA, and go study:
1) http://fxgears.com/forum/index.php/topic,410.0.html
2) http://fxgears.com/forum/index.php/topic,563.msg12935/topicseen.html#msg12935
I take this opportunity to thank SQA for the hard work done in compiling all the videos in the above links. :thumbsup:
No probs Computater707, I realise it can be demanding when you have updated a very useful indicator.
So seems its a very easy fix to enable brokers like ForexLTD to display the correct ADR
Hope that helps others
So seems its a very easy fix to enable brokers like ForexLTD to display the correct ADR
Code:
string comment="ADR " + DoubleToStr(MathRound((adr/Point)),1) +
" Today " + DoubleToStr(MathRound(((today_high-today_low)/Point)),1) + " " + DoubleToStr(Percent*100,0) + " % ADR = " + DoubleToStr(MathRound((adr * Percent/Point)),1);Hope that helps others
Daytrader21
Member
Computater707 said:
Thanks for your feedback but let me see if I got you right.
Do you imply that the indicator only calculates the 5 Day (set by default) ADR?
It takes the last five days ranges (1st Day High-Low= 1st Day range, 2nd Day H-L=2nd Day Range......)/5 = ADR?
I was trying to calculate this manually and compare it with what the ADR indicator say and I don't get the same figure for the 5ADR
I don't have the source code of this indicator I only have the executable file. But from what I can tell I may be using a different version of ADR because the ADR H/L I get are static figures
I'm still confused about how it gets the High and Low
All the best
Computater707
Well-Known Member
True Range is different than Daily Range.Daytrader21 said:Thanks for your feedback but let me see if I got you right.
I was trying to calculate this manually and compare it with what the ADR indicator say and I don't get the same figure for the 5ADR
I don't have the source code of this indicator I only have the executable file. But from what I can tell I may be using a different version of ADR because the ADR H/L I get are static figures
I'm still confused about how it gets the High and Low
The Daily Range is one of three conditions that are used to calculate True Range
The formula for Average True Range From Investopedia:
The true range is the greatest of the following:
-current high less the current low. (This is the Daily Range )
-the absolute value of the current high less the previous close.
-the absolute value of the current low less the previous close.
The average true range is a moving average (generally 14-days) of the true ranges.
Welles Wilder developed this indicator for commodities. Gaps from one day to the next were common and ATR accounted for this. ADR does not. Gaps often occur over the weekend with FX and these create the difference Between ATR and ADR.
iATR uses this formula and returns a value based on the number of days chosen for the simple moving average.
If you click on an indicator with an file extension of .mq4 it should open in Metaeditor and you can examine the code.
Hope this Helps