OPEN-SOURCE SCRIPT
ADR Dashboard - TRADER FISH
Overview
Designed by TRADER FISH, this lightweight utility indicator provides a real-time "Volatility Dashboard" directly on your chart. It calculates the Average Daily Range (ADR) over a specified period (default: 14 days) and compares it with the Current Daily Range.
For intraday traders and scalpers, knowing how much "fuel" is left in the market is crucial. This tool helps you identify when the price has reached its statistical limit for the day, allowing for better Take Profit placement and reversal anticipation.
Key Features
Real-Time Monitoring: Displays a minimalist table in the top-right corner, showing the 14-Day Average vs. Today's High-Low Range.
Percentage Completion: Automatically calculates what percentage of the average daily range has been achieved today.
Dynamic Visual Alerts: The text color changes based on volatility exhaustion:
Green: Normal volatility (Room to move).
Orange (≥ 90%): Warning zone. The daily range is approaching its average.
Red (≥ 100%): Exhaustion zone. The market has exceeded its average volatility, increasing the probability of a reversal or consolidation.
Multi-Timeframe Support: While this indicator is best used on intraday charts (1m, 5m, 15m, 1h), it automatically requests data from the Daily (D) timeframe to ensure accuracy.
How to Use
Take Profit: If you are holding a position and the indicator turns Red (>100%), consider taking profits as the statistical probability of further extension decreases.
Reversal Trading: Look for reversal patterns (like double tops/bottoms) when the price hits a key level AND the ADR is exhausted (>100%).
Trend Continuation: If the ADR is low (e.g., <50%), the market may still be in consolidation or has plenty of room to breakout.
Settings
ADR Length: Default is 14 (The industry standard for Volatility).
Position: Fixed to the Top-Right corner to keep your chart clean.
Note from the Author
This script is part of the TRADER FISH quantitative trading toolkit. It focuses on data visualization and minimalism.
Disclaimer: This tool is for informational purposes only and does not constitute financial advice. Past volatility does not guarantee future price action.
Designed by TRADER FISH, this lightweight utility indicator provides a real-time "Volatility Dashboard" directly on your chart. It calculates the Average Daily Range (ADR) over a specified period (default: 14 days) and compares it with the Current Daily Range.
For intraday traders and scalpers, knowing how much "fuel" is left in the market is crucial. This tool helps you identify when the price has reached its statistical limit for the day, allowing for better Take Profit placement and reversal anticipation.
Key Features
Real-Time Monitoring: Displays a minimalist table in the top-right corner, showing the 14-Day Average vs. Today's High-Low Range.
Percentage Completion: Automatically calculates what percentage of the average daily range has been achieved today.
Dynamic Visual Alerts: The text color changes based on volatility exhaustion:
Green: Normal volatility (Room to move).
Orange (≥ 90%): Warning zone. The daily range is approaching its average.
Red (≥ 100%): Exhaustion zone. The market has exceeded its average volatility, increasing the probability of a reversal or consolidation.
Multi-Timeframe Support: While this indicator is best used on intraday charts (1m, 5m, 15m, 1h), it automatically requests data from the Daily (D) timeframe to ensure accuracy.
How to Use
Take Profit: If you are holding a position and the indicator turns Red (>100%), consider taking profits as the statistical probability of further extension decreases.
Reversal Trading: Look for reversal patterns (like double tops/bottoms) when the price hits a key level AND the ADR is exhausted (>100%).
Trend Continuation: If the ADR is low (e.g., <50%), the market may still be in consolidation or has plenty of room to breakout.
Settings
ADR Length: Default is 14 (The industry standard for Volatility).
Position: Fixed to the Top-Right corner to keep your chart clean.
Note from the Author
This script is part of the TRADER FISH quantitative trading toolkit. It focuses on data visualization and minimalism.
Disclaimer: This tool is for informational purposes only and does not constitute financial advice. Past volatility does not guarantee future price action.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.