Qullamaggie ADR and Volatility and Price Change Indicator

The Qullamaggie ADR and Volatility and Price Change Indicator tool provides a comprehensive dashboard for monitoring market volatility and key price performance metrics relative to historical averages and trend lines.

Usage

This indicator is designed to help traders identify high-momentum setups by visualizing critical data points in an easy-to-read table. It can be used to:

• Volatility Assessment: Use the Average Daily Range (ADR) percentage to gauge the current volatility of an asset. High ADR values often indicate stocks with significant intraday movement potential.
• Trend Confirmation: Monitor the percentage distance from the Simple Moving Average (SMA) to determine if a stock is overextended or trending strongly above its mean.
• Intraday Strength: Observe the "Change from Today Low" and "Change from Prev Low" metrics to spot strength or weakness relative to recent price floors, which is essential for identifying intraday reversals or breakouts.

Details

The script calculates the Average Daily Range (ADR) based on a user-defined lookback period (5, 10, 15, or 20 days) to provide a localized view of volatility. It specifically measures the daily high-to-low range to calculate its averages. Furthermore, the indicator tracks the current price's relationship to the previous day's low and the current day's low, providing percentage-based insights into price action. The inclusion of the percentage distance from a configurable SMA (default 10-period) follows common momentum trading frameworks to ensure traders stay aligned with the broader trend.

Settings

Display

• Panel position: Determines the vertical alignment of the data table on the chart (top, middle, or bottom).
• Horizontal position: Determines the horizontal alignment of the data table (left, center, or right).

Lookback Time Range (Days)

• Time Interval: Select the number of days (5, 10, 15, or 20) used to calculate the Average Daily Range.

SMA Period

• SMA Period: Adjust the length of the Simple Moving Average used to calculate the price distance percentage.

FAQ

How do I use the ADR percentage for trading?

The ADR percentage helps you understand how much a stock typically moves in a day. Traders often use this to set realistic profit targets or to filter for "explosive" stocks that have high average volatility.

What does "Change from Prev Low" signify?

This metric shows how far the current price is from the lowest point of the previous trading session. It is a key metric for identifying if a stock is holding its prior day's range or breaking down.

How can I access this indicator?

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