Average Daily Range Indicator & Install

[NickB]

Note: This post is part of the new NickB method e-Book. There is a link in the e-Book to this post.

This is just a normal MT4 indicator. You only need to install it for a few minutes to calculate your targets. The indicator download and the standard indicator install instructions are below.

ADR Indicator
You can download the average daily range indicator here:

http://www.forex4noobs.com/forex-plu...-indicator.zip

Installing the ADR Indicator

1. Download your custom indicator
2. Close your MT4 (assuming you have it open)
3. Place the EA file you downloaded into your C:\Program Files\MetaTrader 4\experts\indicators\. Depending on your broker the path may be different. For example if you are using ODL’s MT4 you will have to place the file in C:\Program Files\ ODL MetaTrader 4 \experts\indicators\
4. Open your MT4 platform.
5. Up the top of your platform go to Insert > Indicators > Custom. In there you should see your new indicators name. Click it to add the indicator to your current chart. You will see an options menu pop up, in most cases you simply click ok. This depends on the actual indicator though and you should refer to the site from which you got it if you need to tweak the settings.
6. You can revisit the indicator options by right clicking on your chart and selecting Indicator List. A list of all the indicators on that chart will pop up. Simply double click the required indicator to access its options.

Don't Have a MT4 Platform
Well your options are:

1. Go back on your chart manually for the past 200 daily candles and figure out the ADR.
2. Download a MT4 demo platform, figure out the ADR very quickly with the indicator above and if you dont like MT4 delete the platform when your done (that's what I do)

You can download the free MT4 platform here:

http://www.metatrader4.com/

TIP: After your download the platform when opening a demo account you will be asked for your address, phone number and email address. If you do not want to be phoned/emailed by brokers just throw in fake details. Especially if you will only use the platform for 5 minutes to figure out the ADR of a pair!

[obnoxious2]

Hey Nick, do you have the code for the ADR for MT4 that you could quote up? Even if the programming language is different between mt4 and dealbook, I'm pretty sure I can code it up for dealbook if i can see what it looks like in mt4

[dristy]

Nick,

Does this indicator normalize nanopips?

My broker uses them (and I hate it) but I would like to know so I can know if I need to ignore the last digit on everything or not.

Thanks.

[pilgrimtech]

Hey good working indicator.

I used to trade gold (XAUUSD) quite often, and this does not seem to work for it.. just a thought..

[Ste]

Hi just trying to download the ADR indicator but the link appears to be broken could someone forward it to me or post a new link.thanks

[wuming79]

Hi, the link is broken. Can someone post the ADR indicator again?

[Kony76]

If you serach on the internet, there are a lot of ADR indicators for MT4 available.

I made the same question somwhere at the forum, but since nobody answered me, I solved my issue this way.

[drewIOW]

Hi, the link is broken. Can someone post the ADR indicator again?

Try this one hope this helps

[NenadPavlov]

Greetings guys,

I'm currently testing some strategy so I need besides ADR from yesterday to some point in past also ADR of some interval in past. So, I've modified existing ADR indicator, all existing functionality is the same, I've just added 2 params, beginDate and endDate. I hope it will be useful for somebody. I lacked in creativity when I was naming him, so it is called "200DayDailyRange+"

P.S. Hmm, I can not post links because I don't have message count of 5.. Bummer..