FXCodeBase.COM: Forex Chart Indicators and Development

Thanks my friend. It needs also another small tweaking. I was testing the indicator today, it is working almost perfectly with the exception of oscillation of values during the day. I took some screenshots for you to see. First I was testing in the simulator, but I noticed that it was not working properly, but it is because the indicator does not work in the backtester, not because it does not work, unfortunately can´t test it in backtester. On the simulation the day never resets, the indicator "thinks" it is always the same day. So I left it running on a live chart and I could see it resets properly.

What I noticed during the day is that the ADR and ADM values keep oscillating some pips up and down. I think it is because the code is considering the current bar in the calculation, you must exclude the current bar from the calculation. If ADR and ADM are set to 7 days, for example, then it will consider the last 7 bars, excluding the current one, I think this will fix the value oscillation. Also, I noticed that the percentage in ADM is not only increasing, but also decreasing. This must be corrected because if we are doing a "countdown" of the value, it must go always in one direction. I noticed that one time the ADM was at 63%, then it was at 65%, then 64%. then 63%. It should be always increasing going forward. This behavior I also noticed on the simulator going high speed, I could see the ADM percentage going up and down.

Try this version.

Thanks my friend, gonna test it and get back to you

Hi there my friend, while testing the daily range movement summary I also had the ADR loaded, and I noticed something I hadn´t before (in ADR).

The upper and lower line of the ADR (that says "remaining"), they keep running away from price. If price is going up, both go higher, if price is going down, both go lower. They are always updating their location.

Aren´t they supposed to be fixed in place so the price will reach them? (hence the "remaining" pips to reach them).

Now back to the Daily Range Movement Summary:

The ADM is still going up and down in value and percentage, I think it is still using the current bar in
it´s calculation, check the screenshot, I copied and pasted the indicator value from other screenshots in different points in time, you can see the ADM value oscillating.

One more example. Day started hours ago (marked with white arrow), the ADM is showing 0, zero movement, it is not computing the movement properly.

Using the crosshair tool and measuring the up and down movements I got over 200 pips of movement.

Your request is added to the development list.
Development reference 38.

Try this version.

Thanks buddy, gonna test it right now

Apprentice wrote:

The attachment Daily Range Movement Summary v.1.4.mq4 is no longer available

Try this version.

Hi there dear friend, still the exact same error. ADM percentage and value keeps going up and down. When I loaded the indicator to test, the ADM was at 22%, then dropped to 20%, then back to 22%, now it is at 18%!!!