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Direct MessagesDate/Time: Thu, 18 Apr 2024 23:13:08 +0000
Average Daily Range (ADR) indicator
View Count: 6891
| [2016-11-14 12:07:18] |
| User983039 - Posts: 11 |
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Hi, I am using ADR indicator in MT4 and it calculates the average daily range based on last five trading days excluding gaps. Please see the attached MT4 screenshot. I am trying to use a similar indicator in Sierra Chart but can't seem to find one. I have applied "Daily Range Band" study but chart gets compressed. Please see the attached file. Is there similar study to the one I am using in MT4 that shows ADR bands on the main price graph (not at the bottom)? I wish to see the ADR of all previous days and not just the current day. Thanks |
 Daily Range Band.PNG / V - Attached On 2016-11-14 12:07:00 UTC - Size: 19.83 KB - 1329 views |
| [2016-11-20 01:28:12] |
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You are not using the Daily Range Band study properly. You need to follow the documentation: https://www.sierrachart.com/index.php?page=doc/TechnicalStudiesReference.html#s349 Always first refer to the documentation. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2016-11-20 01:30:09
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| [2017-04-01 04:17:18] |
| User464702 - Posts: 18 |
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New to sierra so I am probably missing something simple. I have read the supporting documentation but cannot get it to do what I want. I just want the plot the "open + half the daily range" and "open - half daily range". Much like the "Daily OHLC" study. |
| Sierra Help.PNG / V - Attached On 2017-04-01 04:17:05 UTC - Size: 15.02 KB - 971 views |
| [2017-04-01 09:18:53] |
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Refer to this page for information about the studies to accomplish this: Using the Basic Arithmetic Studies Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-10-11 19:43:39] |
| User326780 - Posts: 23 |
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User464702 did you manage to get this done, I have spent the last few days trying to do the exact same thing. I have gone through the support links but I think I am also missing something.
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| [2018-10-13 15:53:44] |
| User326780 - Posts: 23 |
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Support, has there ever been a development on this. I can see the thread is over a year old. I have gone through the above steps on an FX chart and I am getting as many as 16 pips difference between the ADR on the daily and the daily range bands on the intraday chart. I have attached a pic of what I am trying to achieve and has been very simply on other chart packages. I am quite surprised as good as SC is there isn't a study that can simply achieve this. If SC cant do anything about this could you point me in the direction of anyone who would have the knowledge Date Time Of Last Edit: 2018-10-13 16:06:48
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| [2018-10-13 18:11:32] |
| Sawtooth - Posts: 3973 |
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User326780, see attached. Is this what you are trying to do?
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| ADR Range Bands.PNG / V - Attached On 2018-10-13 18:09:39 UTC - Size: 26.13 KB - 2624 views |
| [2018-10-13 18:47:40] |
| User326780 - Posts: 23 |
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Hi, yes I'm trying to get the lines automatically plotted on an intraday chart from the ADR so when a new day opens if the range is 100 the high line will be 50 higher and the low line 50 lower. I'm only a few months into SC and this was one of the first things I tried setting up, I gave up and concentrated on other things bow I have things sorted I've come back to this but still no joy |
| [2018-10-13 20:24:22] |
| Sawtooth - Posts: 3973 |
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The attached chartbook example shows how to do this. You'll need to change the symbol in both charts to one your broker uses. Go to Chart >> Chart Settings The Daily chart has all of the studies and calculations needed to produce the line values. You can minimize this chart. The Intraday chart has the overlays of the line values from the Daily chart, using the Study/Price Overlay study. Note the formulas in the Spreadsheet Formula studies on the Daily chart. Note the Session times of the Intraday chart. 9/16/2022 Edit: Updated chartbook for latest SC versions. Date Time Of Last Edit: 2022-09-16 15:52:48
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 ADR Range Bands.Cht - Attached On 2022-09-16 15:51:29 UTC - Size: 7.45 KB - 112 views Attachment Deleted. |
| [2018-10-14 09:29:04] |
| User326780 - Posts: 23 |
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Hi Mate, I really appreciate your help and the time you put in to creating the chart, I have changed the symbol over to an fx one but its not quite right. On the image I have attached the ADR is currently in the 180's I am trying to get the ADR high and low about 90 pips up and 90 down from the open. So Friday opened at 1.8582 I would want the ADR high at 1.8672 and the low at 1.8492 hopefully the image makes it clear. Maybe I can change something on the spreadsheet formula but I have to confess I am useless with things like that |
| [2018-10-14 15:10:20] |
| Sawtooth - Posts: 3973 |
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Are the current day's lines static, or do they adjust as the day progresses? The ADR begins forming at the open, and adjusts until the close. What time of day is the Open that you are referring to? Is it the Open of the current Daily bar? Is it the same price as the Close of the previous day's Daily bar? Date Time Of Last Edit: 2018-10-14 23:46:31
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| [2018-10-15 13:58:43] |
| Sawtooth - Posts: 3973 |
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Sierra Chart is very configurable so you will be able to do what you want. Assuming you want yesterday's Daily ADR centered on today's Daily open, use these formulas instead in the respective Spreadsheet Formula study's formulas on the Daily chart of the attached chartbook from post #9: =O+ID1.SG1[-1]/2 =O-ID1.SG1[-1]/2 For more information on Simple Alert formulas and their syntax: Study/Chart Alerts And Scanning: Alert Condition Formula Format |
| [2018-10-15 16:53:51] |
| User326780 - Posts: 23 |
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Hi sorry for not getting back to you sooner but I didn't get an email notification of your reply for some reason I have applied the formula and that looks about right to me If i save studies as acollection would that be the best way to apply to other charts. Cheers for this |
| [2018-10-15 17:08:12] |
| Sawtooth - Posts: 3973 |
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Save the Study Collection with a + after the file name. Or check 'Prompt to Remove Existing Studies' before saving. To apply a Study Collection to a chart, go to Analysis and select it. You may need to edit the formula if the referenced study has a different ID#. Applying a Study Collection does not automatically update a formula's study reference. |
| [2018-10-15 17:53:35] |
| User326780 - Posts: 23 |
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I thought i was getting somewhere i saved the study collection and applied it to another chart i have changed the id to 4 which is the daily chart no and the attached pic is how it has turned out
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| [2018-10-15 19:05:11] |
| Sawtooth - Posts: 3973 |
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The formulas need to reference the ADR study. Is your ADR study ID4? (Note: this is not the chart#). |
| [2018-10-15 19:13:30] |
| User326780 - Posts: 23 |
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I will have to pick this up again tomorrow I'm about to go and pick my wife up from work and shut everything down, I will get it how I want it eventually lol
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| [2018-10-16 15:50:35] |
| User326780 - Posts: 23 |
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Boom, I have been home for 5 minutes and its sorted. Sometimes you can look at something for too long and not get it but walk away take a break and the answer is staring you in the face. Thanks very much for your help I think that's me now I have everything I need. Cheers |
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