Using Average Daily Range to Track Intraday Range Progress

Summary

The document describes an Average Daily Range indicator that uses historical price data to estimate a typical daily range. It compares the current day’s movement with that average and displays how much of the expected range has already been covered, alongside an estimate of how much may remain.

The indicator also presents daily high and low levels, a projected range, and a progress display intended to help monitor daily volatility. This can provide context for judging current movement against recent range behavior, but the text gives no formula details, lookback guidance, market-specific evidence, or validation of the projection. It is an analytical aid only; it does not generate or manage trades, and its estimate should not be treated as a guarantee of the day’s eventual range.

Key ideas

• Average Daily Range summarizes typical daily price movement from historical data.
• Comparing current movement with the average shows how much of the expected range has been used.
• The indicator displays daily highs, lows, and a projected range.
• The range estimate is analytical context, not a promise of future movement or a trade signal.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.