ADR 50 SR Pro calculates key support and resistance levels based on 50% of the Average Daily Range (ADR) projected above and below the daily opening price.
ADR 50 SR Pro plots horizontal level lines and customizable shaded zone boxes directly on the main price chart. Traders can adjust the ADR period, zone percentage width, line styling, and toggle display elements like labels, distance in pips or points, and an information dashboard panel.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
ADR Period
int
10
adrPeriod
Show Labels
bool
true
showLabels
Show Zones
bool
true
showZones
Zone Width % (of ADR)
float
2.0
zoneWidthPct
Show Dashboard
bool
true
showDash
Show ADR Date
bool
true
showAdrDate
Show Distance
bool
true
showDistance
Line Width
int
2
lineWidth
ADR H50 Color
color
color.red
colHigh
ADR L50 Color
color
color.green
colLow
Zone Transparency
int
85
zoneTransp
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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