ADR% - Average Daily Range % by MikeC (AKA TheScrutiniser)

This applies a 'corrected' formula to the version created by alpine_trader (which is slightly off). It calculates the Average Daily Range (in percent) over the previous 20 periods and plots it in a chart.

I am grateful to GlinckEastwoot for the 'corrected' formula.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?