Average (Daily) Range

Category: Indicators By: Doctrading Created: June 10, 2016, 8:26 AM
June 10, 2016, 8:26 AM
Indicators
5 Comments

Hello all,

I was very surprised that I couln’t find the “Average Daily Range” indicator, although it is a very simple and important one.

This simplified code can draw the ADR, but can also be applied to any timeframe.
So it would be the average range of the “p” last bars.

Beware, it is not the Average True Range.

// Amplitude moyenne (Average Range)

P = 10 // nombre de périodes

HAUTmoyen = average[p](high)
BASmoyen = average[p](low)
AMPLITUDEmoyenne = HAUTmoyen-BASmoyen

return AMPLITUDEmoyenne as "Average Range"

Download
Filename: AVERAGE-RANGE.itf
Downloads: 169
Doctrading Master
Hello, I'm Marc. Nice to meet you.
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