ADR by Saurabh Maggo

ADR levels for intraday

This Pine Script v5 indicator plots Average Daily Range (ADR) levels on a 5-minute NSE chart, ideal for intraday traders. It marks key price levels (L3+, L3-, L2+, L2-, L1+, L1-) at 9:15 AM IST each day, based on the daily open and a customizable ATR period.

Features:

Configurable Levels: Adjust ATR period (default 5) and multipliers (L3=0.5, L2=0.25, L1=0.125) to set price targets.

Today Only Option: Toggle Show Recent to display only the current day’s levels or all historical levels.

Visual Customization: Choose vibrant colors for each level via settings, with a glow effect
(toggleable, transparency=20) and adjustable circle size (default 2, range 1–5) for enhanced visibility, optimized for dark chart backgrounds.

Clean Design: Single-point plotting at 9:15 AM IST ensures a clutter-free chart, with dynamic points that move with the chart.
Usage: Perfect for NSE intraday trading, this indicator helps identify high-probability price targets. Customize levels, colors, and visuals to suit your strategy.