Indicator · Pine Script v4 · On the chart

Average Daily Range High Low

by sherwind

This indicator plots average-range high and low levels on the price chart.

View on GitHub

Repaints

GitHub stars6on the repository
Pine versionv4older, still runs
Lines of code117
Settings13inputs
LicenceNone stated
Last update5 years ago22 May 2021

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 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.

Details

Published by

sherwind on GitHub

Type

Indicator, Pine Script v4

Draws

On the price chart

Markets

Forex

Timeframes

Any timeframe

Risk Notes

  • Signals can change on the live bar or after it closes (repainting)
  • Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Display average range as forex pips?booltrueis_forex_pips
How many ADR to showint7daily_adr
How many AWR to showint0weekly_adr
How many AMR to showint0monthly_adr
How many AYR to showint0yearly_adr
ADR Length parameterint5daily_adr_length
AWR Length parameterint5weekly_adr_length
AMR Length parameterint1monthly_adr_length
AYR Length parameterint1yearly_adr_length
ADR colorcolorcolor.limedaily_adr_color
AWR colorcolorcolor.orangeweekly_adr_color
AMR colorcolorcolor.fuchsiamonthly_adr_color
Show all 13 settings
SettingTypeDefaultVariable
AYR colorcolorcolor.redyearly_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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