ADR - Average Daily Range [KasTrades]

This is an Average Daily Range (ADR) indicator.
There are two settings for ADR:

• Two Look back period ADR range (e.g. 7 and 14 days)
  
• One Look back period ADR (e.g. 5 days only)
  

Two day ADR ranges are typically used in equities and index futures whereas one day ADR is typically used in forex.

The opening time by default is 17:00 New York (Eastern) time. The ranges are always calculated from the opening price of the first bar on the respected timeframe.