DavidOConnorSpain

Average Daily Range (ADR) with variable look back period

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This script allows the user to change the look back period with a default of 7 periods. Fixed stops and/or profit targets can lead to risk mismanagement during high or low volatility conditions. For a particular setup, a profit target could be say 15% of the ADR and the stop at 10% of the ADR. ADR is sometimes preferred over ATR ( Average True Range ) as the former doesn't include gaps
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