ADR Average Daily Range

[jfoppoli]

Hi,
I am trying to setup my Average Daily Range for the last 7 days. According to what I read that is calculated by adding the daily high and the daily low, and then dividing that result by 7.

While reading the forum I found that is build in NT8 and it's called ADXR, however in parameters it says:
Interval 10, period 14

I am using 8 ticks in my EURUSD charts.

What are the values I would need to enter in my case?

Sorry if this is a silly question. I am new to this and still trying to find my way around. Thanks a lot.
Julio

[NinjaTrader_Brandon]

Hello Julio,
Thanks for your reply.

I don't think that the ADXR is what you are looking for. Below is the description of the ADXR which is similar to what you are looking for, but slightly different.

Average Directional Movement Rating quantifies momentum change in the ADX. It is calculated by adding two values of ADX (the current value and a value n periods back), then dividing by two. This additional smoothing makes the ADXR slightly less responsive than ADX. The interpretation is the same as the ADX; the higher the value, the stronger the trend.

It looks like the publicly available indicator in post 3 below however will work in NinjaTrader 7 for you.

http://ninjatrader.com/support/forum/showthread.php?t=15122

Here is a basic guideline of how to Import NinjaScripts.
To import NinjaScripts you will need the original .zip file.
To Import
1. Download the NinjaScripts to your desktop, keep them in the compressed .zip file.
2. From the Control Center window select the menu File> Utilities> Import NinjaScript
3. Select the downloaded .zip file
4. NinjaTrader will then confirm if the import has been successful.
Critical - Specifically for some NinjaScripts, it will prompt that you are running newer versions of @SMA, @EMA, etc. and ask if you want to replace, press 'No'

[jfoppoli]

Thanks for your answer Brandon. I am using NT8. Would this script work for that platform?
Thanks again,
Julio

[koganam]

Thanks for your answer Brandon. I am using NT8. Would this script work for that platform?
Thanks again,
Julio

Just use the SMA of the Range, either in code, or on the chart, as the case may be.

[jfoppoli]

Just use the SMA of the Range, either in code, or on the chart, as the case may be.

Hi, thanks for the reply, but I have no idea what the SMA of the range? I am new to this and have no clue.

[koganam]

Hi, thanks for the reply, but I have no idea what the SMA of the range? I am new to this and have no clue.

If you are as completely clueless as you are implying, then the correct place to start is to RTFreeManual.

Here is a link to videos and explanations of how to use indicators, including how to use one indicator as the input to another indicator. It also links to how to do the same in NinjaScript.

ref: http://ninjatrader.com/support/helpG...indicators.htm

[jfoppoli]

Thanks. I see that SMA is an indicator. So to get the 7 day ADR I should change the default 14 with a 7 and that's it, right?

[koganam]

Thanks. I see that SMA is an indicator. So to get the 7 day ADR I should change the default 14 with a 7 and that's it, right?

Pretty much. You use the Range as input to the SMA with a period of 7.

[jfoppoli]

Thank you very much! I appreciate your help.

[kmlneo]

Already posted in another section of this forum:

• This is an ADR indicator for ninjatrader 8 and it even sends notifications when the ADR is reached, also notifies of high reversal probabilities: https://trading2society.com/t2ssmartadr