Average Daily Range Tracker

18 ore fa

Average Daily Range Tracker

This indicator helps you measure volatility in real time by tracking the Average Daily Range (ADR) and comparing it to the current day’s price action.

🔑 Features

Calculates the ADR over a user-defined lookback period (default = 14 days).

Displays today’s developing range (High–Low) as the session unfolds.

Shows what % of the ADR has already been consumed intraday.

Visual progress bar makes it easy to see how close today is to its historical average range.

Optional ADR plot available in a separate pane.

📈 How traders use it

Spot when a market has already made its “typical” daily move.

Adjust intraday trade expectations: avoid chasing after the bulk of the move is done.

Use % of ADR consumed as a volatility filter for setups.

Combine with support/resistance to identify exhaustion zones.

⚙️ Customization

Lookback length for ADR calculation.

Progress bar size and color.

Optional toggle to plot ADR in its own panel.

12 ore fa

Note di rilascio

Average Daily Range Tracker

This script calculates and tracks the true Average Daily Range (ADR) of the last N daily candles — regardless of what timeframe you’re currently viewing. Unlike many ADR tools that recalc when you switch charts, this version is locked to daily data only, ensuring consistent results.

Features:

✅ ADR based on the last X daily candles (default = 14).

✅ Displays today’s developing daily range in real-time.

✅ Progress bar shows how much of the ADR has been used.

✅ Optional ADR plot (on a separate scale).

✅ Clean table overlay in the top-right corner.

Use case:
Quickly see the average daily volatility of your ticker and how today’s move stacks up against it. Helps with setting realistic targets, stops, and gauging when a move may be stretched.