A comprehensive trading indicator that combines Average Day Range (ADR), Average True Range (ATR), and volume analysis to provide insights into price movement and trading volume dynamics.
Explore complementary indicator rolesHow it works
The indicator calculates multiple metrics by analyzing price ranges and trading volume across different timeframes. It computes the Average Day Range (ADR) and Average True Range (ATR), which measure the typical price movement for a given period.
The system tracks the percentage of ADR and ATR covered by current price action, providing traders with insights into potential price movement probability. Additionally, it monitors custom volume sessions, comparing current volume against historical averages to help traders understand market activity and potential trend strength.
Why it may be useful
This indicator helps traders make more informed decisions by providing a comprehensive view of price movement and volume dynamics. By understanding the average range of price movements, traders can set more precise stop losses, take profits, and assess potential trade risk.
The volume and range analysis allows traders to evaluate market volatility, identify potential trend strength, and compare current market conditions against historical performance. This multi-dimensional approach provides a more nuanced understanding of market behavior beyond simple price action.
When to explore it
The indicator is most effective during active trading sessions, particularly for intraday trading strategies focusing on short to medium-term price movements. It works best in markets with consistent volume and clear price trends, such as major stock indices, forex pairs, and liquid commodities.
Traders should use this tool when seeking to understand market volatility, assess potential price ranges, and compare current market activity against historical averages. It is particularly useful for day traders and scalpers who need quick, comprehensive insights into market conditions.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
