This indicator displays the Average Daily Range for the last 5 days. Could potentially be useful for finding hidden support and resistance levels on intraday chart.
- The blue line = high of average daily range
- The pink line = low of average daily range
Rich (BB code):
#Hint: Average Daily Range def len = 2; def dayHigh = DailyHighLow(AggregationPeriod.DAY, len, 0, no).dailyhigh; def dayLow = DailyHighLow(AggregationPeriod.DAY, len, 0, no).DailyLow; def ADR_high = (dayHigh + dayHigh + dayHigh + dayHigh + dayHigh) / 5; def ADR_low = (dayLow + dayLow + dayLow + dayLow + dayLow) / 5; plot ADR_H = ADR_high; plot ADR_L = ADR_low;