Jason, is there any reason you guy dont offer an average range indicator such as the ADR where it will plot it on the chart? I know there is a ATR that is similar except it sits at the bottom but it can be a bit of a pain in my opinion to use. With the ATR I have to figure out what its telling me them plot it on my chart, then figure out where to put a stop, then profit target. When trading say a 5 minute chart during london open by the time I figure all that out price most likely has moved pretty far from my entry target which then greatly can effect my r:r. I have down loaded a couple of the web but all of them are flawed as the calculate in the current days price movements which in my opinion is a conflict of interest. Meaning I can set it to average 1 day and see the previous days high/low, or average it to actually see what the average daily range for say the last week or what ever right on the chart. That way if I see a possible entry I can see if we are exceeding the previously mentioned areas of possible S/R. I see when I go to the indicators drop down menu in marketscop/tradestation the only indicator under S/R in pivots. It my opinion an average range can be way more valuable to use. Again there is available indicators out there for download but they are all flawed from what I have found and also when trading away from home using the web based plattform whatever I downloaded is of no help at all which consequently tends to be when I get the most entries signals.
Hi Bob,
The indicators that come pre-installed on Trading Station Desktop are there by popular demand, so I’m happy to pass on your request for an average range indicator like the one you described.
In the meantime, you mentioned that you have seen indicators available for download that were flawed. In case you have checked these sites already, I want to make sure you’re aware of the custom indicators available on both FXCMapps.com and FxCodeBase.com.
If you don’t find what you’re looking for there, it’s possible to code your own custom indicators or have our Programming Services team code them for you.