colejustice

Average Daily Range Zones

The Average Daily Range is a simple concept, calculated as the difference between daily highs and lows averaged over some period. This range is is overlaid and centered on the day's open, and tends to act as areas of support and resistance . This indicator provides two aggregation periods, creating a range that represents volatility in the ADR; a wider spread indicates greater recent volatility , and vice-versa.

Thanks to @Hank Hill for the original idea and ToS script this is based on, and TV for the feedback and support on the use of the security() function.
릴리즈 노트: Added a toggle to display the ADR on today's session only.
오픈 소스 스크립트

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차트에 이 스크립트를 사용하시겠습니까?

코멘트

Thanks for sharing this. You had mentioned a ToS version. Do you know where I can find that tos version?
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colejustice OptionRocket
@OptionRocket, there isn't a 1-to-1 version that I'm aware of, but this script is similar and could easily be modified to do the same thing: https://usethinkscript.com/threads/average-daily-range-indicator-for-thinkorswim.244/
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Hello - Thanks a lot for this indicator , i would like to request you to add one more thing on that, a 1 Standard deviation from first length and Second Length to both sides High and low side. will that possible .

Thanks.
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colejustice goldy1985
@goldy1985, Hi, I'm glad you like it! You might be interested in a version of this I did with fibonacci levels:

It's not exactly what you're looking for, but I found the fib levels to line up better than std deviation in my own testing. Still, I'll take your suggestion under consideration.
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