OPEN-SOURCE SCRIPT
[SkuldX] Average Daily Range
SkuldX Average Daily Range
by SkuldX Trading Systems
What is it?
SkuldX ADR calculates the Average Daily Range across three independent periods and projects statistical price targets directly on the chart. Instead of just showing a raw number, it tells you exactly where today's statistically likely high and low are — and how much of that range has already been consumed. This transforms a simple volatility measure into a practical decision-making tool for every session.
The core concept
Every instrument has a characteristic daily range — how far it typically moves from low to high in a single day. ADR measures this by averaging the daily High minus Low over a chosen number of past sessions. When today's price approaches the ADR High or Low level projected from the daily open, the market is statistically reaching its expected limit for the day. This is where momentum tends to slow, consolidate, or reverse.
The key insight: if the market has already consumed 90%+ of its average daily range, the probability of further directional movement drops significantly. Conversely, if only 20% of the range has been used, there is substantial room left to move.
Three periods — three perspectives
🟡 ADR 5 — 5-day average (one trading week). Most reactive to recent conditions. Best for identifying short-term volatility shifts and current week behavior.
🔵 ADR 10 — 10-day average (two weeks). Balanced view of recent momentum without excessive noise.
🟠 ADR 20 — 20-day average (one month). The standard institutional reference. Most stable and reliable for setting daily targets and stops.
All three periods are independent and can be toggled on or off. When all three are active simultaneously, the spacing between their levels gives a visual read on volatility expansion or contraction — tight clustering means stable conditions, wide separation means the market is in a transitional phase.
What you see on the chart
Each enabled period draws two horizontal lines per day — an ADR High and an ADR Low — projected symmetrically above and below the daily open (00:00 NY time). A dotted midline marks the daily open itself.
Each label shows three pieces of information simultaneously:
ADR20 H 2415.50 [87.30] 72% used
The projected level price
The ADR value in brackets — how many points the average daily range is
The percentage of today's range already consumed
Lines are drawn fresh at the start of each day and historical days remain visible on the chart for reference and backtesting.
Daily Range Used %
This is the most actionable metric in the indicator. It answers the question: how much room does the market have left today?
Below 50% — significant range remaining, directional moves are still viable
50–80% — range is being consumed, momentum may slow near ADR levels
Above 90% — statistically exhausted, high probability of slowdown, consolidation or reversal at ADR levels
Above 100% — unusual day, range has exceeded the historical average, often signals a news-driven or institutional event
Alerts
A configurable alert fires when the daily range consumed exceeds your threshold (default 90%). This allows you to catch exhaustion points in real time without watching the chart constantly. The alert specifies which ADR period triggered and the exact percentage consumed.
Settings
ADR 5 / 10 / 20 — enable or disable each period independently with custom colors
Show ADR High / Low levels — toggle the projected level lines
Show Daily Open — toggle the dotted midline at 00:00 NY open
Show Daily Range Used % — toggle the consumption percentage in labels
Show Labels — toggle all right-edge labels
Label Size — tiny, small, or normal
Line Width / Style — visual customization
Alert threshold % — percentage of ADR consumed that triggers the exhaustion alert
How to use it in practice
As a take-profit guide — when price approaches ADR High or Low with 80%+ range consumed, consider taking partial or full profit rather than holding for further extension.
As a reversal filter — avoid entering new directional trades when the ADR Used % is above 85–90%. The statistical edge has diminished significantly.
As a stop-loss reference — place stops beyond the ADR High or Low to avoid being caught by normal daily volatility.
Combined with session analysis — ADR levels are most powerful when they align with session structures. An ADR High that coincides with London High or Asian High becomes a confluence zone with significantly higher reversal probability.
Combined with OI data — if price reaches ADR High while the OI Delta shows Short Squeeze conditions, the move is likely unsustained and a reversal is probable. If it reaches ADR High with Bullish Trend OI, the day may extend beyond the average range.
Why 00:00 NY as the daily open
Crypto trades 24/7 without a traditional open. The New York midnight open (00:00 NY) is used as the reference point because it aligns with institutional risk resets, matches the TDO used across the SkuldX suite, and provides a consistent reference across all instruments and timezones with automatic DST adjustment.
Built for SkuldX ecosystem
SkuldX ADR is designed to work alongside the full SkuldX suite. ADR levels combined with TDO/TWO session opens, OI Delta signals, and Level Patterns reactions give a complete picture of where price is likely to pause, reverse, or accelerate on any given day.
by SkuldX Trading Systems
What is it?
SkuldX ADR calculates the Average Daily Range across three independent periods and projects statistical price targets directly on the chart. Instead of just showing a raw number, it tells you exactly where today's statistically likely high and low are — and how much of that range has already been consumed. This transforms a simple volatility measure into a practical decision-making tool for every session.
The core concept
Every instrument has a characteristic daily range — how far it typically moves from low to high in a single day. ADR measures this by averaging the daily High minus Low over a chosen number of past sessions. When today's price approaches the ADR High or Low level projected from the daily open, the market is statistically reaching its expected limit for the day. This is where momentum tends to slow, consolidate, or reverse.
The key insight: if the market has already consumed 90%+ of its average daily range, the probability of further directional movement drops significantly. Conversely, if only 20% of the range has been used, there is substantial room left to move.
Three periods — three perspectives
🟡 ADR 5 — 5-day average (one trading week). Most reactive to recent conditions. Best for identifying short-term volatility shifts and current week behavior.
🔵 ADR 10 — 10-day average (two weeks). Balanced view of recent momentum without excessive noise.
🟠 ADR 20 — 20-day average (one month). The standard institutional reference. Most stable and reliable for setting daily targets and stops.
All three periods are independent and can be toggled on or off. When all three are active simultaneously, the spacing between their levels gives a visual read on volatility expansion or contraction — tight clustering means stable conditions, wide separation means the market is in a transitional phase.
What you see on the chart
Each enabled period draws two horizontal lines per day — an ADR High and an ADR Low — projected symmetrically above and below the daily open (00:00 NY time). A dotted midline marks the daily open itself.
Each label shows three pieces of information simultaneously:
ADR20 H 2415.50 [87.30] 72% used
The projected level price
The ADR value in brackets — how many points the average daily range is
The percentage of today's range already consumed
Lines are drawn fresh at the start of each day and historical days remain visible on the chart for reference and backtesting.
Daily Range Used %
This is the most actionable metric in the indicator. It answers the question: how much room does the market have left today?
Below 50% — significant range remaining, directional moves are still viable
50–80% — range is being consumed, momentum may slow near ADR levels
Above 90% — statistically exhausted, high probability of slowdown, consolidation or reversal at ADR levels
Above 100% — unusual day, range has exceeded the historical average, often signals a news-driven or institutional event
Alerts
A configurable alert fires when the daily range consumed exceeds your threshold (default 90%). This allows you to catch exhaustion points in real time without watching the chart constantly. The alert specifies which ADR period triggered and the exact percentage consumed.
Settings
ADR 5 / 10 / 20 — enable or disable each period independently with custom colors
Show ADR High / Low levels — toggle the projected level lines
Show Daily Open — toggle the dotted midline at 00:00 NY open
Show Daily Range Used % — toggle the consumption percentage in labels
Show Labels — toggle all right-edge labels
Label Size — tiny, small, or normal
Line Width / Style — visual customization
Alert threshold % — percentage of ADR consumed that triggers the exhaustion alert
How to use it in practice
As a take-profit guide — when price approaches ADR High or Low with 80%+ range consumed, consider taking partial or full profit rather than holding for further extension.
As a reversal filter — avoid entering new directional trades when the ADR Used % is above 85–90%. The statistical edge has diminished significantly.
As a stop-loss reference — place stops beyond the ADR High or Low to avoid being caught by normal daily volatility.
Combined with session analysis — ADR levels are most powerful when they align with session structures. An ADR High that coincides with London High or Asian High becomes a confluence zone with significantly higher reversal probability.
Combined with OI data — if price reaches ADR High while the OI Delta shows Short Squeeze conditions, the move is likely unsustained and a reversal is probable. If it reaches ADR High with Bullish Trend OI, the day may extend beyond the average range.
Why 00:00 NY as the daily open
Crypto trades 24/7 without a traditional open. The New York midnight open (00:00 NY) is used as the reference point because it aligns with institutional risk resets, matches the TDO used across the SkuldX suite, and provides a consistent reference across all instruments and timezones with automatic DST adjustment.
Built for SkuldX ecosystem
SkuldX ADR is designed to work alongside the full SkuldX suite. ADR levels combined with TDO/TWO session opens, OI Delta signals, and Level Patterns reactions give a complete picture of where price is likely to pause, reverse, or accelerate on any given day.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Visit skuldxtrade.com to learn more about SkuldX Trading Systems.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Visit skuldxtrade.com to learn more about SkuldX Trading Systems.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.