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Daily Range Intelligence (DRI)
Daily Range Intelligence (DRI) is an intraday context tool designed to help traders understand how much of the expected daily range has already been used.
It measures the current day’s range relative to the Average True Range (ATR) and presents this information in a clean, visual format to support decision-making.
This indicator does not generate trading signals. It is intended to provide context about volatility and range expansion.
Core Concept
Markets tend to move within a statistical range. By comparing the current range to ATR, traders can evaluate whether price still has room to expand or if it is operating in extended conditions.
How to Interpret the Range
Important Note on ATR Levels
Reaching 100% of ATR does not imply that price must reverse or stop moving. Markets can continue to expand beyond their average range, especially during strong directional sessions. The ATR level is a reference point for context, not a limit or constraint.
What the Indicator Displays
How It Helps
DRI helps answer key intraday questions such as:
Usage Notes
This tool is designed to be used alongside price action and technical analysis.
It does not predict direction and should not be used in isolation. Always combine it with your own analysis and risk management approach.
Market conditions can vary, and no single metric should be used as a standalone decision tool.
It measures the current day’s range relative to the Average True Range (ATR) and presents this information in a clean, visual format to support decision-making.
This indicator does not generate trading signals. It is intended to provide context about volatility and range expansion.
Core Concept
Markets tend to move within a statistical range. By comparing the current range to ATR, traders can evaluate whether price still has room to expand or if it is operating in extended conditions.
How to Interpret the Range
- Below 50% of ATR
The market has used a relatively small portion of its expected range. This indicates that price may still have room to expand. - Between 80% and 120% of ATR
The market is operating in a decision zone, where both continuation and rotation scenarios are possible. - Above 120% of ATR
The market has exceeded its typical range. This is commonly associated with slower conditions or consolidation.
Important Note on ATR Levels
Reaching 100% of ATR does not imply that price must reverse or stop moving. Markets can continue to expand beyond their average range, especially during strong directional sessions. The ATR level is a reference point for context, not a limit or constraint.
What the Indicator Displays
- Current day range relative to ATR (percentage)
- A simplified status view (Expansion, Decision, Exhaustion)
- A compact dashboard for quick interpretation
- An optional ATR 100% level to highlight when the expected range has been reached
- Reference zones based on previous day and session ranges
How It Helps
DRI helps answer key intraday questions such as:
- Has the market already moved significantly today?
- Is there still room for expansion?
- Are current conditions better suited for continuation or patience?
Usage Notes
This tool is designed to be used alongside price action and technical analysis.
It does not predict direction and should not be used in isolation. Always combine it with your own analysis and risk management approach.
Market conditions can vary, and no single metric should be used as a standalone decision tool.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.