Average Daily Range in Ticks

Purpose: The ADR Ticks Indicator calculates and displays the average daily price range of a financial instrument, expressed in ticks, over a user-specified number of days. It provides traders with a measure of average daily volatility, which can be used for position sizing, setting stop-loss/take-profit levels, or assessing market activity.

Calculation: Computes the average daily range by taking the difference between the daily high and low prices, averaging this range over a customizable number of days, and converting the result into ticks (using the instrument's minimum tick size).

Customization: Includes a user input to adjust the number of days for the average calculation and a toggle to show/hide the ADR Ticks value in the table.

Risk Management: Helps traders estimate typical daily price movement to set appropriate stop-loss or take-profit levels.
Market Analysis: Offers insight into average daily volatility, useful for day traders or swing traders assessing whether a market is trending or ranging.

Technical Notes:

The indicator uses barstate.islast to update the table only on the last bar, reducing computational load and preventing overlap.
The script handles different chart timeframes by pulling daily data via request.security, making it robust across various instruments and timeframes.