1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Average Daily Range High Low averages the previous bar range with a simple moving average and projects an upper and lower level for the current period from the bar's high, low, and close. Separate counts, lookback lengths, and colors control daily, weekly, monthly, and yearly ranges. A setting shows each average in forex pips or ticks, and the script draws extending lines with range labels. Higher-timeframe data is read with lookahead, so levels can change.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Display average range as forex pips?
bool
true
is_forex_pips
How many ADR to show
int
7
daily_adr
How many AWR to show
int
0
weekly_adr
How many AMR to show
int
0
monthly_adr
How many AYR to show
int
0
yearly_adr
ADR Length parameter
int
5
daily_adr_length
AWR Length parameter
int
5
weekly_adr_length
AMR Length parameter
int
1
monthly_adr_length
AYR Length parameter
int
1
yearly_adr_length
ADR color
color
color.lime
daily_adr_color
AWR color
color
color.orange
weekly_adr_color
AMR color
color
color.fuchsia
monthly_adr_color
Show all 13 settings
Setting
Type
Default
Variable
AYR color
color
color.red
yearly_adr_color
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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