FXCodeBase.COM: Forex Chart Indicators and Development

Hi there dear friend. I am not liking how the ADM and ADR are displayed as of now, would be possible to combine both in a small summary window in the corner of the screen that you can drag around and put wherever you want? It would contain the following info:

ADR: 100 (75%)
ADM: 300 (50%)


ADR is the average daily range, inside the brackets is how much the range was filled, mas is 100%

ADM is the average daily movement (how much the price moved up and down, in pips, in a day), inside the brackets is how much of the daily movement is complete, maximum is 100%.

Only input that the indicator needs is the number of days to calculate, and color of fonts.

Don't forget it is for MT4.

thanks!

Your request is added to the development list under Id Number 4439

Apprentice wrote:Your request is added to the development list under Id Number 4439

Thanks brother, loook I forgot to add one more input parameter that is important.

Given that each broker has it's own server time and each has it's own daily candles open and closes, it is very important for this indicator to have an input for the 24h start of calculation.

For example if you want the indicator to start it's 24h calculation based on the NY market open.

Hello dear friend Apprentice, hope all is good.

I was thinking here, in order to squeeze the most out of this indicator, after you finish it you could make two more versions of it: the weekly range summary and the monthly range summary. The same thing, but tweaked to work in weekly and monthly timeframe.

You either could code separate versions, or add the option to choose the timeframe in a dropdown menu inside indicator options. Your choice.

Cheers!

Have problem understand your specification.
For ADR
ADR: 100 (75%)

ADR is average of ( sum of all max-min) of N last days

As I understand it, it will be something like this...
We first calculate Day range
Day range will be High - Low price for the day
Average Day range will be average of the last N days
In brackets, you will have (Current Day range - Average Day range)/(Average Day range/100)


or is it

We first calculate Average Day range of all candles for current day
n brackets, you will have (Current candle range - Average Day range)/(Average Day range/100)

Apprentice wrote:Have problem understand your specification.
For ADR
ADR: 100 (75%)

ADR is average of ( sum of all max-min) of N last days

As I understand it, it will be something like this...
We first calculate Day range
Day range will be High - Low price for the day
Average Day range will be average of the last N days
In brackets, you will have (Current Day range - Average Day range)/(Average Day range/100)


or is it

We first calculate Average Day range of all candles for current day
n brackets, you will have (Current candle range - Average Day range)/(Average Day range/100)

Hello dear friend apprentice, hope all is good. The first opton, I believe. I am not good at math. You wanna the calculation of the ADR to be based on the daily candle, not intraday candles. You only take in consideration the intraday candles in the case of the average daily movement calculation (the total up down movement). First you calculate the average range of N days. The ADR value is the average of last N days range (like ATR). What is inside the brackets is the room to move, how much of the average daily range the price has already filled. So it is important for the indicator to have the option to set the start time of the calculation (the 24h reset), given that different brokers have different start times for their daily candles (and server times).

For the weekly and monthly version of this indi to work properly then they have to be based on their respective timeframes (average weekly range based on weekly candles, average monthly range based on monthly candles). The average weekly and monthly movement can use the same calculation of the average daily movement, I guess.

Somewhere you mentioned, the max value is 100.
If I understand you well, that value can be even bigger.

Apprentice wrote:Somewhere you mentioned, the max value is 100.
If I understand you well, that value can be even bigger.

Yeah I meant that when the value in the bracket reaches 100% then it means that the ADR and ADM reached their values so you know that when the price is still moving, itś extra.

Apprentice wrote:Somewhere you mentioned, the max value is 100.
If I understand you well, that value can be even bigger.

I mean, of course the price will always be moving, but there is no need for the summary go over 100%, when you see 100% you know that the indicator maxed out for that period.

Just checking if you understood the other versions too:


Weekly
AWR: Average Weekly Range
AWM: Average Weekly Movement

Monthly:
AMR: Average Monthly Range
AMM: Average Monthly Movement