ADR vs ATR Dashboard v1.2

ADR vs ATR Dashboard v1.2 — User Guide
This dashboard calculates and compares Average True Range (ATR) and Average Daily Range (ADR) from the Daily timeframe ("D") to analyze current market volatility and structural shifts.
1. Understanding Dashboard Metrics

Daily ATR: Measures the asset's average volatility over a set number of days including overnight gaps. If an asset gaps up or down significantly at the open, ATR captures that distance.
Daily ADR: Measures the average high-to-low range of the trading session only, specifically using completed past daily sessions (high[1] - low[1]). It excludes overnight gaps.
ATR - ADR (Difference): Shows the raw price point difference between the two metrics.
‣ Positive value: High overnight gap activity or recent expanding range.
‣ Negative value: Compressed overnight action relative to intraday ranges.
ATR / ADR (Percentage): Expresses the relationship as a percentage.
‣ Below 90% (Below Threshold): Volatility is compressed or overnight gaps are smaller than typical intraday moves.
‣ 90% – 110% (Balanced): Intraday range and total gap volatility are historical norms.
‣ Above 110% (Above Threshold): Significant price gaps are occurring outside of standard trading hours.

2. How to Access and Adjust Settings
To modify any calculation, layout, or color configurations:

Hover your mouse over the dashboard title (ADR-ATR) in the top-left corner of your main chart.
Click the Gear Icon (Settings).
Use the tabs inside the settings window to customize your experience.

Calculations Tab

ADR Length & ATR Length: Change the lookback periods.
‣ Swing Trading (Default): ATR 14 / ADR 20
‣ Fast/Responsive: ATR 10 / ADR 10
‣ Macro/Smooth: ATR 20 / ADR 50
Lower & Upper Thresholds: Adjust the percentage boundaries (90% and 110%) that trigger the "Below ADR", "Balanced", or "Above ADR" condition states.

Dashboard Layout Tab

Dashboard Location: Move the panel to any corner of your chart window (Top Right, Top Left, Bottom Right, Bottom Left).
Text Size: Scale the dashboard visibility (Tiny, Small, Normal, Large) to match your screen resolution.
Toggles: Uncheck "Show ATR Minus ADR" or "Show ATR / ADR Percentage" to hide those rows and make the panel more compact.

Dashboard Colors Tab

Click the color boxes next to any parameter to completely customize the dashboard background, text, borders, and conditional alert highlights (Below ADR, Balanced, Above ADR).

Skrypt open-source

W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.

Stephen_F

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Skrypt open-source

Stephen_F