ACR(Average Candle Range) With Targets

What is ACR?
The Average Candle Range (ACR) is a custom volatility metric that calculates the mean distance between the high and low of a set number of past candles. ACR focuses only on the actual candle range (high - low) of specific past candles on a chosen timeframe.

This script calculates and visualizes the Average Candle Range (ACR) over a user-defined number of candles on a custom timeframe. It displays a table of recent range values, plots dynamic bullish and bearish target levels, and marks the start of each new candle with a vertical line. All calculations update in real time as price action develops. This script was inspired by the “ICT ADR Levels - Judas x Daily Range Meter°” by toodegrees.

Key Features

• Custom Timeframe Selection: Choose any timeframe (e.g., 1D, 4H, 15m) for analysis.
  
• User-Defined Lookback: Calculate the average range across 1 to 10 previous candles.
  
• Dynamic Targets:
  
• Bullish Target: Current candle low + ACR.
  
• Bearish Target: Current candle high – ACR.
  
• Live Updates: Targets adjust intrabar as highs or lows change during the current candle.
  
• Candle Start Markers: Vertical lines denote the open of each new candle on the selected timeframe.
  
• Floating Range Table:
  
• Displays the current ACR value.
  
• Lists individual ranges for the previous five candles.
  
• Extend Target Lines: Choose to extend bullish and bearish target levels fully across the screen.
  
• Global Visibility Controls: Toggle on/off all visual elements (targets, vertical lines, and table) for a cleaner view.
  

How It Works
At each new candle on the user-selected timeframe, the script:

• Draws a vertical line at the candle’s open.
  
• Recalculates the ACR based on the inputted previous number of candles.
  
• Plots target levels using the current candle's developing high and low values.
  

Limitation
Once the price has already moved a full ACR in the opposite direction from your intended trade, the associated target loses its practical value. For example, if you intended to trade long but the bearish ACR target is hit first, the bullish target is no longer a reliable reference for that session.

Use Case
This tool is designed for traders who:

• Want to visualize the average movement range of candles over time.
  
• Use higher or lower timeframe candles as structural anchors.
  
• Require real-time range-based price levels for intraday or swing decision-making.
  

This script does not generate entry or exit signals. Instead, it supports range awareness and target projection based on historical candle behavior.

Key Difference from Similar Tools
While this script was inspired by “ICT ADR Levels - Judas x Daily Range Meter°” by toodegrees, it introduces a major enhancement: the ability to customize the timeframe used for calculating the range. Most ADR or candle-range tools are locked to a single timeframe (e.g., daily), but this version gives traders full control over the analysis window. This makes it adaptable to a wide range of strategies, including intraday and swing trading, across any market or asset.