ADR%

Optuma Scripting
1

Hi,

How do we add ADR% to all of our charts in Optuma?

It’s the average daily range in % over the past 20 sessions.
100*((H0/L0+H1/L1+H2/L2+H3/L3+H4/L4+H5/L5+H6/L6+H7/L7+H8/L8+H9/L9
+H10/L10+H11/L11+H12/L12+H13/L13+H14/L14+H15/L15+H16/L16+H17/L17+H18/L18+H19/L19)/20
-1)

For TradingView the formula can be found here:
https://uk.tradingview.com/script/6KVjtmOY-ADR-Average-Daily-Range-by-MikeC-AKA-TheScrutiniser/

2

Thanks Troy. Copy and paste this in to the script editor for the 20-period ADR% (change the $Bars variable to use a different average):

//Set lookback period;
$Bars=20;
//Get daily range;
DR1=HIGH()/LOW();
//Calculate ADR%;
ADR%=100*(MA(DR1, BARS=$Bars, CALC=Close) -1);
ADR%

You can then save the script formula as an indicator to New Tool View and it will be added to your toolbox so it can be added to charts and watchlists.

Capture

To turn the formula into a scan create a new script and change the last line to eg ADR%<2 to find all those stocks with less than a 2% daily move, as per this watchlist column.

Capture2