Hi traders, I want to share an indicator I have been using for a few years. I made it because I need to know the following: how many pips a currency pair has moved from the high or low of the day how many pips it moved yesterday how many pips it has moved in relation to its long term average the daily open price This indicator may help us avoid some of the lower probability trades. Its often the case that if today a currency pair has already reached its 6M average daily pips, then perhaps it will stop soon. Selling bottoms and buying tops is not a good idea. If the max pips (6M) have already been reached today and price is near a major support or Resistance level, then perhaps we should consider getting out of a trade or to place a reverse trade. The indicator also can show us how far price has moved from the low or high of the day. It prints the current pip distance from the daily top (H) and the daily bottom (L) in pips. This could be useful if we see a currency pair expand up or down and then retrace but we can't tell how many pips it has retraced by. Also by adding the low and high in our head ( H+L=max pips) we can quickly estimate how many pips the pair has done for the day. INDICATOR READINGS: ADR % = percentage of today's price move (compared to the 6M average) Y = yesterday's pips M = Monthly Average Pips 6M = 6 Monthly Average Pips I have set the input values for monthly and 6 monthly to 30 and 180 days respectively but you can change them to any number. H = Distance of current price to today's High L = Distance of current price to today's Low The % indication will change color change when we exceed 100% There is alert for reaching 100% ADR There are 2 inputs for the selection of % colors <100% (RED) and >100% (LIME) The thin red line shows the daily open. This line is like a magnet, price often returns to this level before it continues up or down. Some traders use it for directional bias (above the red line they buy and below the line they sell) The yellow lines show the potential ADR High and Low limits. These 2 lines are dynamic, i.e the lines will move as the day expands. If you are back testing and want to see the ADR lines of the previous 5 days then set the input Print_Historical_HL_Lines=true If you want to see 100 days then change the number 5 in input Historical_HL_Line_Bars to 100 Note: Most of the readings + lines can be turned OFF if not needed If you don't want to see the Monthly and 6 Monthly they can be hidden by selecting FALSE in the settings.