ADR Bar Indicator in MetaTrader 4 – Free Download [TradingFinder]

The ADR Bar Indicator is an advanced tool in technical analysis designed to measure the average daily range of price movements in financial markets.

This indicator allows tracking of daily price ranges through two separate operational modes in the settings section:

• Static Mode: Calculations start from the opening price of the day, and 50% and 100% levels are displayed above and below the chart as reference ranges;
• Dynamic Mode: The range is calculated based on the day’s High/Low prices, providing higher precision in showing the distance the price has traveled up to the current moment.

ADR Bar Indicator Table

The general specifications of the ADR Bar Indicator are shown in the table below.

ADR Bar Indicator at a Glance

On the right side of the chart, the ADR Bar Indicator displays several horizontal bars and a numeric panel, all of which form part of the indicator’s structure.

These components are designed to show the daily price movement compared to the average daily range (ADR).

• 50% ADR Bar: This horizontal line marks the midpoint of the daily range, indicating that the price has reached halfway of its average daily fluctuation.
• 100% ADR Bar: This line marks the full extent of the daily range, showing that most of the daily market capacity has been reached.
• Current DR Section: Displays the exact daily movement in pips on the top-right corner.
• Percentage Section: Displays the percentage of the daily range covered by the price up to the current chart record.

Chart Analysis with ADR Bar Indicator

The chart below displays the S&P500 price on the 30-minute timeframe.

The ADR Bar Indicator calculates the daily movement range based on previous average fluctuations and marks the reference lines on the chart:

• 50% ADR Line: Shows the midpoint of the daily range, recorded at 6643.08.
• 100% ADR Line: Marks the complete daily average range, located at 6617.99.
• Current DR Value: Displayed in the top-right corner of the chart, indicating that by the time of this chart capture, the price had moved approximately 4105 pips, covering 78% of its daily average.

This numeric and visual display allows for a quick evaluation of the market’s movement energy.

ADR Bar Indicator Settings

The image below shows the settings panel of the ADR Bar Indicator on the MetaTrader 4 platform:

• ADR Period: ADR calculation period
• Dynamic Range: Display dynamic range
• Panel Font Size: Font size of the panel
• Color of 100% Line: Show color of the 100% line
• Color of 50% Line: Show color of the 50% line
• Color of Vertical Lines: Show color of vertical lines
• Color of Panel Text: Show color of panel text
• Font Size of Line Text: Show font size of line text

Conclusion

The ADR Bar Indicator is a specialized tool for measuring the average daily price range.

Through its Static and Dynamic modes, this trading tool displays both the traveled and remaining daily range in numeric and visual form. With the reference lines (50% and 100%) along with the “Current DR” and “Percentage” values, it creates a precise framework for evaluating market movements.