Average Daily Range Projections

2月27日

Creates a trailing high and low projection based on the Average Daily Range.

1. Track the Session High and Low to determine the Daily Range.
   
2. Average the Daily Range by a fixed Period to create an Average Daily Range [ADR(P)].
   
3. Track the Prior Daily Range [PDR].
   
4. Track the Current Daily Range [CDR].
   
5. Track the % of Range completion [%R] relative to the CDR & ADR(P).
   
6. From the Session Low, project an Average Daily Range High [ADR HI] by adding the ADR.
   
7. From the Session High, project an Average Daily Range Low [ADR LO] by subtracting the ADR.
   

When %R reaches 100% or greater, the ADR HI & LO will lock, showing the range break out or break down. As the Session High and Low create the Daily Range, observe the reaction of price as it reaches the limit of the expected daily range.

• On strongly trending days, CDR is likely greater than PDR and ADR(P). Price can break away.
  
• On ranging days, %R may fail to reach 100% and CDR may be lesser than PDR and ADR(P). Price can bounce around within the bounds of ADR HI & LO.
  

3月15日

版本注释

• Re-worked color inputs to make it more streamlined.
  
• Changed default plot style to cross from line for better visual alignment.
  
• Introduced a new plot (yellow) based on halving the projected range: Average Daily Range Mid-point or ADR Mid which is useful on ranging days.
  
• Included additional labels for the Current Session High (HI), Current Session Low (LO), ADR Mid-point (ADR MID).
  
• Additional options: Show Price Line, Hide Labels, Info Table Position, Info Table Text Size
  

3月21日

版本注释

Added Manual Override to set the current session ADR value based on input (up to 2 decimal precision). This allows for dynamic ADR value configuration using the values from higher time frame, higher period ADR on lower time frame for intraday.

3月21日

版本注释

Fix for manual override not displaying ADR HI/LO accurately.

4月16日

版本注释

• Re-worked script to introduce functions for efficiency.
  
• Re-organized inputs and variables for consistency.
  
• Added Session Start offset for user-defined session start time
  
• Added Label Position, Label Size
  
• Moved Hide Label toggle
  
• Added Hide Table toggle