Average Daily Range Dashboard

This script displays a non-intrusive ADR (Average Daily Range) dashboard designed to assist traders in monitoring real-time range expansion throughout the trading session. It compares the current day's high-low range to the average daily range calculated over a user-defined number of previous completed days (default: 5).

The tool provides a numerical ADR score (0–5) based on how much of the average daily range has been filled. It also includes optional visual cues and narrative descriptions to help contextualize current price behavior.

📘 Key Features:

Calculates ADR using fully completed daily bars (excluding the current session)

Tracks the current session’s intraday range live (high to low)

Outputs a score from 0 (low range expansion) to 5 (ADR fully filled or exceeded)

Optional alerts when ADR thresholds are crossed (e.g., 60%, 100%)

Displays optional debug values: ADR value, today’s range, session high/low

Customizable table position, size, colors, and visibility settings

🧮 Formula Transparency:

ADR = Simple Moving Average of (Daily High - Low) over the last N completed days

Intraday Range = Real-time (Session High - Session Low)

ADR Score is derived by comparing current range to ADR:
score = floor((sessionRange / adr) * 5), capped at 5

⚠️ Disclaimer:

This tool does not provide buy/sell signals, trading advice, or predictive forecasts. It is intended for educational and informational purposes only. Users should independently verify all data and apply their own analysis. Past performance of any range behavior is not indicative of future results.