OPEN-SOURCE SCRIPT
Average Daily Range% for Daytrading
This indicator shows how many Average Daily Ranges was covered in today's move.
Average Daily Range is always calculated based on the last 5 previous days (before current day).
Tables show:
► How many % of days exceed their ADR.
► How many days in a row did the range remain lower than 5 Day ADR
► How much is already covered by today's move.
It is designed for Daily chart, don't try to use it elsewhere.
Average Daily Range is always calculated based on the last 5 previous days (before current day).
Tables show:
► How many % of days exceed their ADR.
► How many days in a row did the range remain lower than 5 Day ADR
► How much is already covered by today's move.
It is designed for Daily chart, don't try to use it elsewhere.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.