How to Use Average Daily Range For Entries & Exits?

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Welcome to Financial Source! :)

[@beatballermusic]

Great content ! Will this indicator be more efficient when coupled with volume ?

[@FinancialSource]

Good day, yes combining volume can be useful, I think using that alongside volume and pivot points can add a lot of depth to your entry and exit analysis for short-term trades

[@saitama9855]

THANKS BRO

[@FinancialSource]

Don't mention it

[@saitama9855]

@@FinancialSource okay, I'll keep it a secret.

[@marcellusmalone9269]

What ADR is that your using ?

[@FinancialSource]

Hi Marcellus, it's one of the ADR's available on Tradingview, it's called "[JS] - Average Daily Range - Daily (DTFL)"

[@sunilraosunil4749]

How can I calculate adr for last 15 days to know it before one day ?

[@FinancialSource]

Good day Sunilrao, there are quite a few ADR indicators available on the internet that will do that for you automatically, a quick google search for "ADR Indicator" will put you on the right track

[@jafxtradinginstitute6395]

What's the formula?

[@FinancialSource]

Good day, it should be as simple as adding up the total movement for each of the days in the range you are looking at and then dividing it by the amount of days. For example, if you take a two week range you will add up the daily range for each of the past 10 days and then divide that by 10. This is the simple way of calculating it according to my knowledge but just do your own research as well.