ADR/ATR Session by LK

## **Features**

1. **Custom ADR & ATR Calculation**

* Calculates **Average Daily Range (ADR)** and **Average True Range (ATR)** separately for:

* **Session timeframe** (default H4 / 06:00–13:00)
* **Daily timeframe**
* Independent smoothing method selection (**SMA, EMA, RMA, WMA**) for H4 ADR, H4 ATR, Daily ADR, and Daily ATR.

2. **Percentage Metrics**

* % of ADR / ATR covered by the **current H4 bar**.
* ADR / ATR expressed as a percentage of the **current price**.
* % of ADR already reached for the **current day**.
* % of Daily ATR vs current day’s True Range.

3. **Dynamic Chart Lines**

* Draws **3 lines for H4**: Session Open, ADR High, ADR Low.
* Draws **3 lines for Daily**: Daily Open, ADR High, ADR Low.
* Lines **extend to the right** so they stay visible across the chart.
* Colors and widths are fully customizable.

4. **Real-Time Data Table**

* Compact table displaying all ADR/ATR values and percentages.
* Adjustable table font size (**tiny, small, normal, large, huge**).
* Transparent background option for minimal chart obstruction.

5. **Flexible Session Settings**

* Select session start and end time in hours/minutes.
* Choose session timezone (chart timezone or major financial centers).
* Toggle H4 lines, Daily lines separately.

6. **Lookahead Control**

* Option to wait for higher-timeframe candle close before updating values (more accurate, less repainting).

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## **How to Use**

### **1. Adding the Indicator**

* Copy and paste the Pine Script into TradingView’s Pine Editor.
* Click **“Add to chart”**.
* Make sure your chart supports the higher timeframes you choose (e.g., H4 and Daily).

### **2. Setting Your Session**

* **Session Start Hour** & **End Hour** → Defines the intraday session to measure ADR/ATR (default: 06:00–13:00).
* **Session Timezone** → Pick “Chart” or a major financial center (e.g., New York, London, Tokyo).

### **3. Choosing Smoothing Methods**

* For each ADR/ATR (H4 and Daily), choose:

* SMA (Simple)
* EMA (Exponential)
* RMA (Wilder’s smoothing)
* WMA (Weighted)

### **4. Adjusting Chart Display**

* **Show H4 Lines** → Displays session open and ADR High/Low for the current H4 session.
* **Show Daily Lines** → Displays daily open and ADR High/Low.
* Customize line colors and widths.

### **5. Reading the Table**

* **H4 Section**

* ADR / ATR values for the selected session.
* % of ADR/ATR covered by the **current H4 bar**.
* ADR/ATR as % of the current price.
* **Daily Section**

* ADR / ATR for the daily timeframe.
* % of ADR already covered by today’s range.
* ADR/ATR as % of price.

### **6. Pro Tips**

* Use **H4 ADR %** to gauge intraday exhaustion — if current range is near 100%, market may slow or reverse.
* Use **Daily ADR %** for swing trade context — if a day has moved beyond its ADR, expect lower continuation probability.
* Combine with support/resistance to identify high-probability reversal zones.

Release Notes

Update line best to see

Release Notes

Update: Lookback

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

kimngan894923

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Open-source script

kimngan894923