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.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.