Average Session Range [QuantVue]

The Average Session Range or ASR is a tool designed to find the average range of a user defined session over a user defined lookback period.

Not only is this indicator is useful for understanding volatility and price movement tendencies within sessions, but it also plots dynamic support and resistance levels based on the ASR.

The average session range is calculated over a specific period (default 14 sessions) by averaging the range (high - low) for each session.

Knowing what the ASR is allows the user to determine if current price action is normal or abnormal.

When a new session begins, potential support and resistance levels are calculated by breaking the ASR into quartiles which are then added and subtracted from the sessions opening price.

The indicator also shows an ASR label so traders can know what the ASR is in terms of dollars.

Session Time Configuration:
  • The indicator allows users to define the session time, with default timing set from 13:00 to 22:00.

ASR Calculation:
  • The ASR is calculated over a specified period (default 14 sessions) by averaging the range (high - low) of each session.
  • Various levels based on the ASR are computed: 0.25 ASR, 0.5 ASR, 0.75 ASR, 1 ASR, 1.25 ASR, 1.5 ASR, 1.75 ASR, and 2 ASR.

Visual Representation:
  • The indicator plots lines on the chart representing different ASR levels.
  • Customize the visibility, color, width, and style (Solid, Dashed, Dotted) of these lines for better visualization.
  • Labels for these lines can also be displayed, with customizable positions and text properties.

Give this indicator a BOOST and COMMENT your thoughts!

We hope you enjoy.


Get Access to the exclusive QuantVue indicators: www.quantvue.io/

Join thousands of traders in our Free Discord: discord.gg/tC7u7magU3

本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。