Average Daily Range Zones

2021年7月29日

The Average Daily Range is a simple concept, calculated as the difference between daily highs and lows averaged over some period. This range is is overlaid and centered on the day's open, and tends to act as areas of support and resistance . This indicator provides two aggregation periods, creating a range that represents volatility in the ADR; a wider spread indicates greater recent volatility , and vice-versa.

Thanks to hank Hill for the original idea and ToS script this is based on, and TV for the feedback and support on the use of the security() function.

2021年9月9日

發行說明

Added a toggle to display the ADR on today's session only.

2021年9月26日

發行說明

Added toggleable standard deviation levels.

2021年9月28日

發行說明

Fixed a type in the settings menu.

2021年9月28日

發行說明

• Cleaned up some inputs, improved visibility of base ADR levels, and added more customization for visibility.
  
• Added a Custom Timeframe option (changes the "Daily" part of "Average Daily Range").
  

Also, if you like this indicator, check out some of my other work!

2021年10月7日

發行說明

Added a toggleable Day Open plot with fill between open and upper/lower ADR.

2021年10月8日

發行說明

• Updated to PineScript v5
  
• Added a toggle for the fill between the day open and first ADR.
  

2021年10月10日

發行說明

• Added a toggle to disable all plots on non-intraday timeframes.
  
• Added color customization options in Inputs.
  

2021年10月24日

發行說明

• Added a "dynamic" mode toggle that hides the standard deviations zones until price crosses the previous ADR level. Defaults to "ON".
  

2021年12月6日

發行說明

• Added two more standard deviation levels to account for recently wide swings in all major indices.
  
• The first ADR (21 by default) now always draws thicker white lines on each zone.
  

2021年12月6日

發行說明

• Updated toggles to allow dynamic mode to ignore deselected standard deviations.
  

2022年1月9日

發行說明

• Added Variance as an alternative to Standard Deviation when drawing extra zones.