AnDDe said:Hi, Can someone please try answer my question i posted in the last thread:
I was just wondering, based on the the ICT_ADR indicator, how is the ADR high and low of the day calculated ?
I originally thought that the ADR start would would be the origin point and then if say the ADR is 60 then it would be 30 pips on each side of this ADR start area but that is not the case.
Can someone please explain to me how this indicator works? I understand the forumla for how the ADR is calculated but just not just why the High and Low is where it is at.
sqa said:...As for the way the indicator displays, it appears to take the current Range of the Day, then add the remaining amount to hit ADR to the ends of it. ....
sqa said:5 day ADR, which is the version ICT's indicator shows, should be roughly the expected daily range, as an average of the previous 5 days. It has its utility in intra-day swings (ICT has also mentioned using 10 and 20 day versions, as well), simply as a measure of recent volatility.
sqa said:... it appears to take the current Range of the Day, then add the remaining amount to hit ADR to the ends of it. So counter-move level gets closer to the daily Swing point, as it moves in 1 direction.
One of the biggest problems with this indicator is that it counts Sundays as a separate day if you are not on a NY close broker.rod178 said:Suspect that is the underlying issue, although I ndid not spend any quality time trying to ascertain the reasons for the discrepancies with my initial manual ADR calculations
having twenty open charts as well as three plus broker feeds may be the issueAusDoc said:Very few processors earn their keep really, they just loaf virtually all the time unless they confront a very poorly written application. Mind you, they certainly exist!
AusDoc said:Dogs breakfast of indicators or dogs lunch of scripts. I can't see any difference. It's just a case of keeping a tidy toolbox. One advantage of indicators is being able to add them, complete with individual settings, to templates.
AusDoc said:.. a single script onto a chart to change all open charts to the same time frame, such as switching everything from M15 to H1 for example. Scripts are great for this type of application.
rod178 said:I now write script setting to a file and then load/unload multiple scripts from one button click. Once set up it is much easier to manage than template/indicators. I mostly now use Templates for basic chart settings ie colors and panes etc.
AusDoc said:Sounds clever Rod.
Hey, wait a minute... what did you do with that indi I wrote for you? Don't tell me you binned it!
Oh, ...no, never mind. We've made a mess of this homework thread. I guess this is what hell is like... >