ADR/ATR Ranges & Dashboard

7 mag

ADR/ATR Ranges & Dashboard
Description:
The ADR/ATR Ranges & Dashboard indicator is a comprehensive tool designed to visualize key market volatility levels and provide traders with a clear daily framework. This script combines Average Daily Range (ADR) and Average True Range (ATR) metrics across multiple timeframes to assist in defining realistic intraday price targets and stop levels.

Key Features:

ADR Levels (Upper/Lower) plotted automatically based on a customizable period.

Daily High/Low and Previous Day High/Low plotted for context and range awareness.

Custom Range High/Low: Define your own time range to track session-specific extremes.

Dashboard Panel summarizing ADR values, distances to key levels, and custom range data.

Multi-timeframe ATR Dashboard (M1, M5, M15, H1, H4, D1) for detailed volatility insight.

Fully customizable colors and line styles (via the Style tab).

Adjustable dashboard font size and position.

How ADR differs from ATR:

ADR calculates the average difference between daily highs and lows over a set number of days — showing how much price typically moves per day.

ATR measures the average range (including gaps) within a given timeframe — providing a more comprehensive view of volatility.

Ideal for:

Day traders, scalpers, and swing traders needing clear intraday structure.

Volatility-based trading strategies (range breakouts, mean reversion, etc.).

Identifying realistic take-profit and stop-loss zones based on historical price behavior.

Created by: Precious Life Dynamics

7 giorni fa

Note di rilascio

ADR/ATR Ranges & Dashboard
Description:
The ADR/ATR Ranges & Dashboard indicator is a comprehensive tool designed to visualize key market volatility levels and provide traders with a clear daily framework. This script combines Average Daily Range (ADR) and Average True Range (ATR) metrics across multiple timeframes to assist in defining realistic intraday price targets and stop levels.

Key Features:

🔹 ADR Levels (Upper/Lower) plotted automatically based on a customizable period.

🔹 Daily High/Low and Previous Day High/Low plotted for context and range awareness.

🔹 Custom Range High/Low: Define your own time range to track session-specific extremes.

🔹 Dashboard Panel summarizing ADR values, distances to key levels, and custom range data.

🔹 Multi-timeframe ATR Dashboard (M1, M5, M15, H1, H4, D1) for detailed volatility insight.

🔹 Fully customizable colors and line styles (via the Style tab).

🔹 Adjustable dashboard font size and position.

How ADR differs from ATR:

ADR calculates the average difference between daily highs and lows over a set number of days — showing how much price typically moves per day.

ATR measures the average range (including gaps) within a given timeframe — providing a more comprehensive view of volatility.

Ideal for:

🔹 Day traders, scalpers, and swing traders needing clear intraday structure.

🔹 Volatility-based trading strategies (range breakouts, mean reversion, etc.).

🔹 Identifying realistic take-profit and stop-loss zones based on historical price behavior.



Technical Drilldown:

ADR/ATR Ranges & Dashboard is a multifunctional script designed to provide traders with a dynamic view of market volatility, range levels, and price positioning.

🔹 The script calculates the Average Daily Range (ADR) over a user-defined number of days (default: 14) and compares it to the current day's range to show the percentage of ADR already covered.

🔹 It displays the daily high/low of both the current and previous day, and computes ADR extension levels (upper and lower bounds).

🔹 A custom time window (e.g., 09:00–11:00) can be defined to calculate session-based highs and lows, allowing users to analyze specific intraday periods (e.g., opening range or news sessions).

🔹 A volatility dashboard displays the ATR (Average True Range) across multiple timeframes (M1, M5, M15, H1, H4, D1), helping traders to assess current market conditions and adapt their strategy accordingly.

🔹 The dashboard also calculates and displays the distance from the current price to key levels (highs/lows, ADR bounds, custom session highs/lows), color-coded by direction (bullish/bearish).

✅ This tool is particularly helpful for:

🔹Intraday and scalping strategies

🔹Volatility-based filters

🔹Identifying key range exhaustion or breakout potential

All levels and metrics are visualized directly on the chart and in two compact tables, making this a complete range-and-volatility awareness solution for active traders.

7 giorni fa

Note di rilascio

update chart

6 giorni fa

Note di rilascio

v1.2: Custom Range function fixed.