Indicator Z ADR Daily Weekly Monthly Range alerts

Average Daily Weekly Monthly Range alerts.

The most complete multi-period dynamic range indicator with full alert options. Visually displays the Average Range lines on chart + real time distances to the Range Highs and Range Lows. alert notifications are sent when the average range is hit.

An essential tool for any serious Forex trader!

Avoid taking continuation trades AFTER the range is hit. Use your own reversal strategies to trade back into the range AFTER the range is hit (RANGE HIGH HIT = SELL / RANGE LOW HIT = BUY). Set safe Take Profit targets INSIDE the range. Exit open trades or watch the market closely for signs of reversal AFTER the range is hit.

Example Applications:

Set Take Profits for day trades within the ADR;

Exit day trades after the ADR has been hit;

Trade the Afternoon Reversal at the High/Low of the Day after the ADR has been hit;

Set Take Profits for weekly trend trades within the AWR (Average Weekly Range);

Exit Midweek Reversal trades after the AWR has been hit;

Trade the End of Week / Friday Reversal after the AWR has been hit;

Enter / Filter longer term swing trades after the AMR has been hit (Average Monthly Range)

NOTE:

Testing has shown that on average ADR10 is the overall best measure of daily market volatility, but keep a close eye on ADR5 to spot changes in volatility (if ADR5 is significantly different to ADR10, you know that daily volatility is currently in the process of changing). Apart from these periods of change, you will notice that ADR5 and ADR10 are remarkably similar, and that price generally always respects the ADR (it nearly always hits the ADR each day, and often retraces back inside the range before the close), which demonstrates just how consistent the markets are if you have the right tools to measure it. The ADR is undoubtedly the most useful and reliable indicator for Forex & Commodities day traders.

alerts Format

ADR
"AVERAGE DAILY RANGE HIT (SELL): GBPUSD 1.01234 02-08-19 16.15"
"AVERAGE DAILY RANGE HIT (BUY):  GBPUSD 1.01234 02-08-19 16.15"
AWR
"AVERAGE WEEKLY RANGE HIT (SELL): GBPUSD 1.01234 02-08-19 16.15"
"AVERAGE WEEKLY RANGE HIT (BUY):  GBPUSD 1.01234 02-08-19 16.15"
AMR
"AVERAGE MonTHLY RANGE HIT (SELL): GBPUSD 1.01234 02-08-19 16.15
"AVERAGE MonTHLY RANGE HIT (BUY): GBPUSD 1.01234 02-08-19 16.15

Input Settings

·        Display DAILY, WEEKLY, MonTHLY ranges (default = All ON)

·        Select Average Range PERIODS (default = 10)

·        Select Range LINE COLOURS (you can use different colours for the Range High & Range Low lines)

·        Select text LABEL COLOUR & FONT SIZE

·        Select alert TYPES:

o   Pop Up alert

o   Sound alert (+ sound file)

o   Email alerts

o   MT4 Push Notifications

·        Restrict alerts using up to 2 alert TIMERS (default = timers OFF / notifications always sent)

·        Restrict alerts by DAYS OF THE WEEK (default = alert every day ON)