The ADR Order Block Finder Indicator is a simple MT4 indicator about the advance and decline order ratio. The traditional ADR indicator compares the previous day’s orders to current-day orders and gives an average distance. The Indicator calculates the average difference between the highest and lowest prices for a specified period. The Indicator typically signifies a dramatic shift in price activity in the short term.
It plots two lines (blue and red) and signals the distance between the bullish and bearish. The Indicator works best on shorter timeframes, like 30min or 1H, so that traders can use it accordingly.
ADR Order Block Finder Indicator BUY/SELL signals
The above USD/CHF H1 chart shows the Indicator on the chart. The Indicator doesn’t directly mention BUY and SELL signals. Instead, it gives the distance between the bullish and bearish trends. To determine entry points, traders can look for the ADR START. If the bullish lines increase, it’s an uptrend, and traders can enter long positions.
On the flip side, if the bearish lines are more, then is a downtrend, and traders need to enter short positions. To find the BUY and SELL signals, traders need to use other indicators like the RSI or MACD along with this Indicator.
The ADR Order Block Finder Indicator tells the average distance between the previous and current days. By comparing both values, traders can enter long and short positions. Furthermore, you can download the Indicator for free on our website.