ADR Indicator

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ADR Indicator

ADR Indicator for MT4 provides expected market range acts as SUPPORT and RESISTANCE. Best forex trading strategy for breakout and reversals.

The ADR Indicator for MT4 displays the ADR-range and the current day’s market range. So, the ADR provides an expected market range for the day. Moreover, a change in the trade volume and the momentum near the upper or lower ADR-level indicates a beginning of the trend or a reversal. ADR values form the basis of many other forex technical indicators and are part of a multitude of auto trading strategies.

The indicator is best suited for new and experienced forex traders. New traders can identify the ADR-levels as support and resistance and look for price action focusing around these levels. However, experienced traders can incorporate the indicator in other trading systems. Additionally, the indicator is free to download and easy to install.

ADR Indicator For MT4 Trading Setup

The above EURUSD H1 chart shows the indicator for MT4 in action. The indicator displays the ADR values and the current day’s range on the left top corner of the chart. Additionally, the indicator plots the upper and the lower range of Average Daily Range as a dotted line extending to the current trading day.