by 
This indicator calculates the distribution of close-to-close percentage changes using rate of change on closing prices. It bins percentage changes into intervals of 0.25 percent increments from negative to positive values and plots a normalized cumulative hist
Indicator · Pine Script v5 · Own pane
Average Day Range
The Average Day Range indicator calculates market volatility by taking the difference between the simple moving averages of high and low prices over a specified lookback period.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code6
Settings1inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
6 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Average-day-range.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator("Average Day Range", shorttitle="ADR")
lengthInput = input.int(14, title="Length")
smaHigh = ta.sma(high, lengthInput)
smaLow = ta.sma(low, lengthInput)
plot(smaHigh - smaLow, title="ADR")
Overview
Plotted in a separate pane, it gives traders a measure of average price movement to help evaluate expected daily range expansion or contraction. Users can adjust the moving average length setting to suit different lookback horizons.
- Simple moving average of high prices
- Simple moving average of low prices
- Customizable calculation length
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 14 | lengthInput |
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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