5 Day ADR ICT Intraday Tracker + Timeframes, Alerts, Barcolors

The 5 Day ADR ICT Intraday Tracker + Timeframes, Alerts, Barcolors tool tracks the current day's price range as a percentage of the 5-day Average Daily Range (ADR) to identify potential intraday exhaustion or expansion points.

Usage

The indicator is primarily used to gauge how much "room" is left in a daily move based on historical volatility. Traders can use the color-coded histogram and bar colors to identify different phases of the intraday range:

• Entry Zones (Yellow/Orange): When the ADR percentage is low (typically under 50%), it suggests the market has significant room to expand, often serving as a signal to look for trend-continuation entries.
• Expansion Zones (Red/Purple): These indicate the range is reaching 50%–99% of its average daily capacity.
• Exhaustion Zone (Dark Blue): Once the ADR reaches or exceeds 100%, the market is considered "extended," suggesting that further expansion in the same direction is statistically less likely for that session.

The script includes built-in alerts to notify users when the range is exceptionally low (potential for a big move) or when the ADR has been fully reached (potential for a reversal or consolidation).

Details

The script calculates the Average Daily Range (ADR) based on a user-defined lookback period (defaulting to 5 days). It then compares the current high-low range of the session against this average. By normalizing this value into a percentage (0-100%+), it provides a visual representation of the session's volatility relative to recent history. The implementation uses request.security to fetch daily data and apply it to lower intraday timeframes, ensuring the ADR calculation remains consistent across different chart resolutions.

Settings

• Days in ADR calculation: The number of previous days used to calculate the average range.
• Plot number of ADR Back: Determines the historical lookback for the indicator's visual plots.
• Clip above: Sets a maximum threshold for the percentage calculation to prevent extreme spikes from distorting the histogram scale.
• Clip?: A toggle to enable or disable the clipping of values above the "Clip above" threshold.
• Resolution: Allows the user to select the timeframe for the ADR calculation (default is "D").
• Color Bars: A toggle to enable colorizing the price candles based on the current ADR percentage level.

FAQ

How do I access 5 Day ADR ICT Intraday Tracker + Timeframes, Alerts, Barcolors?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What does it mean when the bars turn dark blue?

Dark blue bars signify that the current day's range has reached or exceeded 100% of the 5-day Average Daily Range, suggesting the move may be exhausted.

Can I change the sensitivity of the alerts?

The alerts are pre-configured for low and high ADR zones (30% and 80% respectively), but you can modify the logic within the script settings or Pine Script code if you require different thresholds.