OPEN-SOURCE SCRIPT
Updated ADR Compact with Expansion
ADR Compact with Expansion
A clean, lightweight Average Daily Range (ADR) dashboard designed for momentum and swing traders.
Displays:
ADR % — Average Daily Range as a percentage of price.
ADR $ — Average Daily Range in dollars.
ADR Expansion — Current day's range divided by the stock's ADR.
Color Coding:
Gray: Low volatility
Green: Moderate volatility
Yellow: High volatility
Red: Extreme volatility
ADR Expansion helps identify whether a stock has already made its typical daily move or still has room to run. Values near 1.0 ADR indicate a normal trading day, while higher values highlight unusually strong price expansion.
Designed to provide key volatility and range information at a glance without cluttering the chart.
You could also add a shorter "why I built this" note:
Built to quickly evaluate stock volatility and daily extension while reviewing large numbers of charts. Particularly useful for momentum, breakout, and growth-stock traders who want to assess opportunity and potential overextension in seconds.
A clean, lightweight Average Daily Range (ADR) dashboard designed for momentum and swing traders.
Displays:
ADR % — Average Daily Range as a percentage of price.
ADR $ — Average Daily Range in dollars.
ADR Expansion — Current day's range divided by the stock's ADR.
Color Coding:
Gray: Low volatility
Green: Moderate volatility
Yellow: High volatility
Red: Extreme volatility
ADR Expansion helps identify whether a stock has already made its typical daily move or still has room to run. Values near 1.0 ADR indicate a normal trading day, while higher values highlight unusually strong price expansion.
Designed to provide key volatility and range information at a glance without cluttering the chart.
You could also add a shorter "why I built this" note:
Built to quickly evaluate stock volatility and daily extension while reviewing large numbers of charts. Particularly useful for momentum, breakout, and growth-stock traders who want to assess opportunity and potential overextension in seconds.
Release Notes
Recent UpdatesVersion 2.0
Added ADR Expansion (Today's Range ÷ ADR$) to quickly identify how extended a stock's current move is relative to its normal daily range.
Added color-coded volatility ranges for ADR%:
Gray: Below 4%
Green: 4%–10%
Yellow: 10%–15%
Red: Above 15%
Added color-coded ADR Expansion ranges:
Gray: Less than 0.75 ADR
Green: 0.75–1.50 ADR
Yellow: 1.50–3.00 ADR
Red: Above 3.00 ADR
Added historical ADR% and ADR$ support through TradingView's Data Window. Hover over any candle to view historical values.
Updated ADR% calculation methodology to use the average of daily percentage ranges:
ADR% = Average[(High ÷ Low) - 1] × 100
This aligns the indicator with common ADR calculations used by many momentum and swing traders and improves consistency with other ADR tools.
Redesigned the display into a compact dashboard showing:
ADR%
ADR$
ADR Expansion
Reduced chart clutter by moving historical values to the Data Window while keeping current values visible in a compact table.
Release Notes
I added a key for the ADR colors.Release Notes
Allowed the table to be able to move where user would like instead of only one default.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.