SacredDB Posted February 11, 2011 Report Share Posted February 11, 2011 Hello guys, I'm looking since a long time for a daily range projection indicator, which draws two lines on the chart where trend reversals are most likely its a better indicator than daily support and resistance lines -and it is also great for counter trend trading. It would be great if you could help me. Maybe a similar indicator for MT4 is out there?? Quote Link to comment Share on other sites More sharing options...
⭐ deadsoul Posted February 11, 2011 Report Share Posted February 11, 2011 aren't we all.??? Quote Link to comment Share on other sites More sharing options...
soundfx Posted February 11, 2011 Report Share Posted February 11, 2011 Hi SacredDB, Here's what I think you're looking for: http://www.multiupload.com/209B9QWSDX Dark Blue = Daily Open + ADR Light Blue = Daily Open + ADR/2 Yellow = Daily Open Pink = Daily Open - ADR/2 Red = Daily Open - ADR ADR = Average Daily Range The averaging period by default is 14, however give it a try with 21 or 24 too as they may work better. The light blue line is the most likely place for a reversal if price has been going up and the pink line is the most likely place for a reversal if price has been going down. The Dark blue and Red lines can be used as possible reversal points if price is strongly moving in one direction. ⭐ Gambler67, vladv and zazai 3 Quote Link to comment Share on other sites More sharing options...
vladv Posted February 12, 2011 Report Share Posted February 12, 2011 Very good indicator,thanks! Quote Link to comment Share on other sites More sharing options...
shabz Posted February 12, 2011 Report Share Posted February 12, 2011 This is the one I use, better if you don't like all the lines on your chart: http://www.mediafire.com/?156cjkxy6vvm04j Loustar1 1 Quote Link to comment Share on other sites More sharing options...
123456789 Posted February 12, 2011 Report Share Posted February 12, 2011 this adr indicator is good it draw 2 lines when the market reach/exceed its average daily range http://www.mediafire.com/?ah7nkrd42ptkq3x maddman, Loustar1, Marchello and 1 other 4 Quote Link to comment Share on other sites More sharing options...
SacredDB Posted February 15, 2011 Author Report Share Posted February 15, 2011 Wow, thanks for all the replies. :-) Quote Link to comment Share on other sites More sharing options...
Loustar1 Posted February 3, 2012 Report Share Posted February 3, 2012 Hi SacredDB, Here's what I think you're looking for: http://www.multiupload.com/209B9QWSDX Dark Blue = Daily Open + ADR Light Blue = Daily Open + ADR/2 Yellow = Daily Open Pink = Daily Open - ADR/2 Red = Daily Open - ADR ADR = Average Daily Range The averaging period by default is 14, however give it a try with 21 or 24 too as they may work better. The light blue line is the most likely place for a reversal if price has been going up and the pink line is the most likely place for a reversal if price has been going down. The Dark blue and Red lines can be used as possible reversal points if price is strongly moving in one direction. Hello Soundfx, Could you repost a fresh link? Thanks in advance Quote Link to comment Share on other sites More sharing options...
⭐ deadsoul Posted February 4, 2012 Report Share Posted February 4, 2012 fresh live link.... http://zalil.ru/32644186 enjoy Marchello and maddman 2 Quote Link to comment Share on other sites More sharing options...
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