![]() The Daily Average Range MetaTrader indicator calculates its value from the ATR (Average True Range MetaTrader indicator). The indicator also displays the top half and bottom half of the ADR range as an outline line extending to the current trading day. The indicator displays the ADR value on the left side of the chart along with the range for the day. The chart illustrates the work of one of MT4’s indicators. For experienced traders, they are able to use the indicator to complement other trading platforms. Novice forex traders can spot ADR levels as support and resistance and watch for price action around these levels. The indicator is ideal for both experienced and novice forex traders. the ADR value forms the basis for many other technical forex indicators and is an integral part of many automated trading strategies. In addition, the volatility and rate of change of trading volume at or near the upper or lower limit levels of the ADR indicates the beginning of a trend, or a change or reversal of a trend. ![]() In addition, the ADR gives the expected market range for each day. The ADR indicator in MT4 shows the ADR range and the current market range.
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