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You can adjust the size, font, color, etc. of the text and the placement as well. here is how I got the numbers on to the screen:
For the percentage, I am not sure how to get the decimal to move over two spots, but I am okay with the way it is currently. I got the percentage by doing the following equation using the Study Difference and Study Divide studies:
Current day high minus the current day low (the day's range), divided by the Average Daily Range (the study you have set already). Make sense? If not, just say
Hi can I ask if its possible to have ADR for RTH on SC? From what I read on SC website and here, the ADR study only works for historical chart.
I tried using intraday chart for the ADR study and it shows a number, but I am not sure if that number is reliable or accurate? Otherwise, why would SC recommend using ADR on historical chart? Anyone has any idea about this?
I focus only on intraday trading and figured ADR RTH would be more suited vs. historical ADR which would probably be much higher. Appreciate any insight on this.
Even though the documentation says that it only functions properly on a Historical Daily chart, the Average Daily Range study is actually the simple moving average of the absolute value of the High minus Low of the last n bars. Maybe the reason the documentation says that is because if you use it on an RTH chart, its lookback will include bars from the previous day in the average until n bars have occurred in the current day.
You can test this yourself by adding the ADR to an RTH range bar chart. If you check 'New Bar At Session Start', you'll see a slot at the beginning of each day, but a flat line for all other bars.
So, as I see it, the value returned on an RTH chart is accurate, if you don't mind the 'catch up' bars at the start of the RTH.
I just tried to create RTH ADR based on 60min RTH chart 0900-1430EST and i set the ADR length to be 28, since its 5.5hrs per day = 27.5hrs/week - rounded up - since I want to find out the weekly ADR and it gave me a ADR of 0.27 which seems rather low to me.
if you dont mind, could you share with me what you see on your chart for the settings above?