OPEN-SOURCE SCRIPT
Updated XRS Market Conditions Dashboard
XRS Market Conditions Dashboard is a compact on-chart dashboard designed to help traders quickly assess current market conditions without cluttering the chart.
This tool displays several key market-read metrics in one simple table:
• ADR – Shows the current daily range compared to the average daily range using a locked 1D calculation.
• Chop Risk – Combines ADX, efficiency ratio, structure agreement, and ATR compression into a simple chop-risk score.
• ADX Strength – Measures trend strength and highlights stronger trend environments.
• ATR Range – Displays current ATR in points.
• Delta Bias – Estimates candle-position-based directional pressure.
• Volume Flow – Compares current volume against recent average volume and percentile ranking.
The dashboard is intended to help identify whether the market is trending, compressed, extended, volatile, or potentially choppy. It can be used as a quick confluence tool alongside price action, VWAP, liquidity levels, session highs/lows, and other auction-market concepts.
Settings are customizable, including dashboard position, font size, opacity, ADR lookback, ADX thresholds, ATR settings, volume thresholds, and chop-score structure inputs.
This indicator does not generate buy or sell signals. It is intended for market context, trade filtering, and discretionary analysis only.
Disclaimer: This script is for educational and informational purposes only and does not constitute financial advice. Trading involves risk. Use at your own discretion.
This tool displays several key market-read metrics in one simple table:
• ADR – Shows the current daily range compared to the average daily range using a locked 1D calculation.
• Chop Risk – Combines ADX, efficiency ratio, structure agreement, and ATR compression into a simple chop-risk score.
• ADX Strength – Measures trend strength and highlights stronger trend environments.
• ATR Range – Displays current ATR in points.
• Delta Bias – Estimates candle-position-based directional pressure.
• Volume Flow – Compares current volume against recent average volume and percentile ranking.
The dashboard is intended to help identify whether the market is trending, compressed, extended, volatile, or potentially choppy. It can be used as a quick confluence tool alongside price action, VWAP, liquidity levels, session highs/lows, and other auction-market concepts.
Settings are customizable, including dashboard position, font size, opacity, ADR lookback, ADX thresholds, ATR settings, volume thresholds, and chop-score structure inputs.
This indicator does not generate buy or sell signals. It is intended for market context, trade filtering, and discretionary analysis only.
Disclaimer: This script is for educational and informational purposes only and does not constitute financial advice. Trading involves risk. Use at your own discretion.
Release Notes
Updating to fix the preview.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.
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
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.
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.