Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5
Info
The Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 is a Indicator for MetaTrader 5 that quantora adr calculator mt5 is a professional average daily range indicator designed for metatrader 5. The indicator analyzes historical daily price ranges and calculates the Average Daily Range (ADR) for the selected period.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Quantora ADR Calculator MT5 is a professional Average Daily Range indicator designed for MetaTrader 5.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - another powerful indicator for MetaTrader 5 traders.
Quantora ADR Calculator MT5 is a professional Average Daily Range indicator designed for MetaTrader 5. The indicator analyzes historical daily price ranges and calculates the Average Daily Range (ADR) for the selected period. It also monitors the current trading day's range and shows how much of the expected daily movement has already been completed.Also recommended: Quantora Trading Session Monitor MT5: Professional Market Session and Activity Analysis - similar indicator with strong performance on MetaTrader 5.
Main Features
- Average Daily Range (ADR) calculation
- Default 14-day ADR period
- Adjustable ADR calculation period
- Current Day Range
- ADR Used percentage
- Remaining Daily Range
- Today Open price
- Today High and Low
- Projected ADR High level
- Projected ADR Low level
- Points display
- Pips display
- ADR progress bar
- Optional ADR High / Low chart levels
- Uses completed daily candles by default
- Professional Quantora dashboard
- Low CPU usage
- Works on all chart timeframes
- Compatible with Forex, Gold, Indices and Crypto
- Free and open-source MQ5 code
How It Works
The indicator calculates the average High-to-Low range of the previous daily candles. By default, the previous 14 completed trading days are used. The dashboard then compares the current day's range with the calculated ADR and displays the percentage of ADR already used. For example: ADR = 3250 points
Today Range = 1840 points
ADR Used = 56.6%
Remaining Range = 1410 points
This provides traders with a quick visual reference for current daily volatility.
ADR Levels
When Show ADR Levels is enabled, projected ADR High and ADR Low levels are displayed directly on the chart. These levels provide a visual representation of the calculated daily range based on the current day's opening price. They are statistical reference levels and should not be interpreted as guaranteed price targets.
Installation
Place: Quantora_ADR_Calculator_MT5.mq5 inside: MQL5 -> Indicators Compile the source code using MetaEditor and attach Quantora ADR Calculator MT5 to any chart.
Important Note
ADR measures historical average price movement and does not predict future market direction. This indicator is an informational and analytical tool. It does not open, close or manage trades.
Product Information
You may also like: Quantora Symbol Information Dashboard MT5 - Professional Symbol and Trading Specifications Panel - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_chart_window
#property indicator_plots 0
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
input group "========== ADR SETTINGS =========="
input int InpADRPeriod = 14;
input bool InpUseCompletedDays = true;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.