ADR Consumption Gauge
"Today has used 60% of its average daily range" means something completely different depending on whether that happened in the first hour of the session or with the day nearly over. Most ADR tools show only the range percentage and leave the trader to remember, or separately check, how much of the day is actually left. This gauge always shows both numbers side by side - range consumed as a percentage of the InpAdrPeriod-day average, and time elapsed as a percentage of the trading day - and reduces the comparison to one line: Ahead of pace when range consumption is running meaningfully hotter than time elapsed, Behind pace when the opposite is true, and On pace when the two are within a configurable tolerance band. The average daily range is computed from the Daily timeframe's own completed bars, starting at the bar before today so today's own still-forming range never leaks into its own baseline. The trading day's start is a configurable hour rather than a fixed midnight assumption, since some brokers roll their trading day at a different server hour; today's own high/low is then measured by walking the chart's current timeframe bars back to that same anchor. Notes and limitations - The "day elapsed" percentage assumes a flat 24-hour trading day; it does not account for weekend closures, holidays, or a broker's specific session hours, so it reads as a rough clock-position indicator, not a precise fraction of actual tradeable time. - ADR is a simple average of the last InpAdrPeriod completed daily ranges, with no outlier trimming - one unusually large historical day (a news spike, a gap) inflates the baseline for the whole averaging window. - If fewer than InpAdrPeriod + 1 daily bars of history are available (very new symbol, or history not yet downloaded), the ADR reads as zero and the range-used percentage cannot be computed; widen the chart's history or lower InpAdrPeriod. - Today's range is measured on the chart's current timeframe; a much higher timeframe measures the same session with fewer, coarser bars and can under-read intrabar extremes slightly compared to a lower timeframe. - Purely a read-only informational panel - no alerts, no trade signals.
Indicator · MT5 · v1.0 · Free
About ADR Consumption Gauge
ADR Consumption Gauge is an indicator for MetaTrader 5. It has 10 settings, such as Adr period, Day start hour and Pace tolerance p. MQL source code included.
Files in the download: AdrConsumptionGauge.ex5, AdrConsumptionGauge.mq5, AdrConsumptionGauge.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Adr period | 20 | Days averaged for the ADR baseline (excludes today) |
| Day start hour | 0 | Trading-day start hour, broker/server time (0-23) |
| Pace tolerance p | 15 | Percentage-point tolerance around pace before calling it Ahead/Behind |
| Panel corner | CORNER_LEFT_UPPER | Panel corner: 0=LU 1=RU 2=LL 3=RL |
| Panel x | 10 | Panel horizontal offset in pixels |
| Panel y | 20 | Panel vertical offset in pixels |
| Ahead color | clrTomato | Text colour when range consumption is ahead of time pace |
| On pace color | clrKhaki | Text colour when roughly on pace |
| Behind color | clrLimeGreen | Text colour when behind pace (room left to move) |
| Panel font size | 10 | Panel font size |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Indicators.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Trading Sessions · MT5 Indicator · MQL5 Source Code