Average Daily Range (ADR) (Multi Timeframe, Multi Period)

Arun_K_Bhaskar Mis à jour   
Average Daily Range (ADR)
(Multi Timeframe, Multi Period, Extended Levels)

• Narrow Zones are an indication of breakouts. It can be a very tight range as well.
• Wider Zones can be Sideways or Volatile.

What is this Indicator?
• This is Average Daily Range (ADR) Zones or Pivots.
• This have Multi Timeframe, Multi Period (Up to 3 Levels) and Extended Target Levels.

Advantages of this Indicator
• This is a Leading indicator, not Dynamic or Repaint.
• Helps to identify the reversal points.
• The levels are more accurate and not like the old formulas.
• Can practically follow the Buy Low and Sell High principle.
• Helps to keep minimum Stop Loss.

Who to use?
• Highly beneficial for Day Traders
• It can be used for Swing and Positions as well.

What timeframe to use?
• Any timeframe.

When to use?
• Any market conditions.

How to use?
• Long entry when the Price reach at or closer to the Green Support zone.
• Long entry when the Price retrace to the Red Resistance zone.
• Short entry when the Price reach at or closer to the Red Resistance zone.
• Short entry when the Price retrace to the Green Support zone.
• Long or Short at the Pivot line.

• Use past ADR levels as targets.
• Or use the Target levels in the indicator for breakouts.
• Use the Pivot line as target.
• Use Support or Resistance Zones as targets in reversal method.

What are the Lines?

Gray Line:
• It the day Open or can be considered as Pivot.

Red & Green ADR Zones:
• Red Zone is Resistance.
• Green Zone is Support.
• Mostly price can reverse from this Zones.
• Multiple Red and Green Lines forms a Zone.
• These lines are average levels of past days which helps to figure out the maximum and minimum price range that can be moved in that day.
• The default number of days are 5, 7 and 14. This can be customized.

Red & Green Target Lines:
• These are Target levels.

What are the Labels?
• First Number: Price of that level.
• Numbers in (): Percentage change and Change of price from LTP (Last Traded Price) to that Level.

General Tips
• It is good if Stock trend is same as that of the Index trend.
• Lots of indicators creates lots of confusion.
• Keep the chart simple and clean.
• Buy Low and Sell High.
• Master averages or 50%.
Notes de version:
Updated on 3 Sep 2022
  • Added multiple timeframe levels.
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