Average Daily Range Tracker

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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.

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Informacje o Wersji

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.