This custom indicator is designed to provide the Average Daily Range (ADR) for multiple timeframes, including Daily, 4-Hour, and 1-Hour. The indicator is tailored to assist traders in understanding price volatility and making informed trading decisions.
Key Features Multi-Timeframe ADR Calculation:
Automatically calculates and displays the ADR for Daily, 4-Hour, and 1-Hour timeframes. Helps traders identify potential price movement ranges for different trading sessions. Dynamic Range Visualization:
Clear visual representation of the ADR on the chart, making it easy to spot price extremes. Real-time updates to reflect changes in price movement. Custom Alerts:
Option to set alerts when the price approaches the ADR high or low. Useful for identifying potential reversal zones or breakout opportunities. User-Friendly Interface:
Simple and intuitive settings to customize colors, levels, and display preferences. Seamlessly integrates with your existing TradingView setup. ICT-Inspired Methodology:
Designed for traders who follow ICT concepts, focusing on precision and high-probability setups. Applications Range Trading: Helps determine the high and low boundaries for scalping or intraday setups. Volatility Analysis: Understand market behavior during different times of the day or week. Reversal Zones: Identify areas where price is likely to reverse, based on ADR extremes. Whether you're a scalper, day trader, or swing trader, this indicator provides a comprehensive overview of price volatility across multiple timeframes, making it an essential tool for your trading arsenal.