Average Daily Range (ADR) Indicator for MetaTrader 4 Download - Free - [TFlab]

Among the MetaTrader 4 indicators, the Average Daily Range (ADR) Indicator is one of the most effective tools specifically designed for determining an asset's daily price range.

This indicator calculates the average difference between the daily high and low over a specified period.

The upper level, ADR High, and the lower level, ADR Low, represent the daily range, providing traders valuable insights into key support and resistance levels.

Indicator Specifications Table

The table below summarizes the key features of this indicator:

Category	Trading Tool - Support & Resistance - Risk Management
Platform	MetaTrader 4
Skill Level	Intermediate
Indicator Type	Reversal - Range-Based
Timeframe	Multi-Timeframe
Trading Style	Intraday Trading
Market	Cryptocurrency - Forex - Stocks

ADR in an Uptrend

On the USD/CAD 30-minute chart, selling pressure may decrease if the price approaches the ADR Low level, potentially leading to a price increase.

If reversal candlesticks form at this level, traders may consider buying opportunities. Stop-loss can be set below the ADR Low range.

ADR in a Downtrend

On the NZD/CAD chart, the price moves downward after reaching the ADR High level.

Traders observing reversal candlestick formations in these areas can enter a sell (Sell) trade and place a stop-loss above the ADR High level.

ADR Indicator Settings

The image below provides a detailed view of the ADR Indicator settings:

• Period for ATR: Sets the ATR calculation period for defining levels
• Line Style: Determines the style of the indicator line
• Line Width: Sets the line width
• Line Color: Defines the line color

Conclusion

The Average Daily Range (ADR) Indicator is an effective tool for analyzing market volatility and identifying key support and resistance levels.

Traders can use this indicator to manage risk and refine their entry and exit strategies.

It is recommended that this tool be combined with Buy Sell Pressure indicators to better assess buyer and seller strength at these critical levels.