What is ADR Projection?
ADR Projection draws three horizontal lines for the current day. The middle one sits at the day's open. The other two sit above and below it, half an average daily range away, labelled ADR High and ADR Low. Together they mark the span a typical day covers if that range is centred on the open.
The average is taken over a number of completed days, 14 by default. By default it uses each day's simple high to low range; you can switch to True Range, which also counts the gap from the previous close. For crypto, which trades around the clock, the two are usually close.
This is a closed-source premium script. It runs on Altrady's servers, so only its output reaches your chart and its code is not published.
How to use ADR Projection
- Price near a projected line. When price reaches the ADR High or ADR Low, the day has already covered its usual range from the open. Many traders read that as a reason to be careful chasing further in that direction.
- Price near the open line. Early in the day, price close to the open has most of its typical range still ahead of it, in either direction.
- Days that break through. A close well beyond a projected line marks a day that is larger than average. That is information about the day, not a signal to fade it.
- As a target frame. The projected lines give a rough sense of how far an intraday move can reasonably run before it becomes unusual for this market.
The projection describes a typical day. It does not predict the direction of the day.
Settings
Settings
| Setting | Default | Range | What it changes |
|---|---|---|---|
| ADR Period | 14 | 1 to 100 | How many completed days to average. |
| Use True Range | Off | True Range includes the gap from the prior close. Simple Range (default) uses only high − low. | |
| Offset Hours | 0 | -12 to 12 | Shift the day boundary. +5 makes it 0500 UTC. |
Display
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Show Open Line | On | A line at the session open itself. | |
| Show Labels | On | ||
| Show State Pane | Off |
Colours
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Projected High | #089981 | ||
| Projected Low | #f23645 | ||
| Open | #787b86 | ||
| Label | #b0b3b8 |
Alerts: projected_high_reached, projected_low_reached.
How it works
Each day the script measures how large recent days have been and averages them over the ADR Period. It then takes the current day's open and places the projected high and low an equal distance above and below it, so the full average range is centred on the open.
A new day starts at 00:00 UTC by default. Offset Hours moves that boundary, for example to align the day with a different time zone. When a new day begins, the previous day's projection is replaced by a new one.
The two alerts fire when a bar closes at or through a projected line after the previous close was still inside it, one for the projected high and one for the projected low.
Limitations
- The average looks back. The projection is built from completed days. After a sudden change in volatility it takes several days before the average catches up.
- Centred on the open by construction. A day that trends from the open often never reaches the opposite line, so the two lines are not equally likely targets.
- The day boundary is a choice. The default is the UTC day. A market you watch around another session's open may need Offset Hours to line up with how you read the day.
- Close based alerts. An alert needs a close at or beyond the line. A wick that tags the line and comes back does not trigger one.
- It is not a strategy. The lines carry no entry, exit or sizing rule of their own.
Get ADR Projection
Premium scripts are a one-time purchase in the Altrady marketplace and need a paid Altrady plan to run.
- ADR Projection $7 This script on its own.
- Structure & Wyckoff bundle $29 7 premium scripts, ADR Projection included.
- Altrady Complete Suite $109 All 36 premium scripts.
Frequently asked questions
It shows the current day's open with a line above and below it, half the average daily range away. The lines mark where the day reaches if it trades its typical range centred on the open.
ADR uses each day's high to low range. With Use True Range on, the script uses the True Range instead, which also includes any gap from the previous close. On crypto markets that trade continuously the two give similar results.
Two: projected_high_reached, when a bar closes at or above the projected high after closing below it, and projected_low_reached, when a bar closes at or below the projected low after closing above it.
Yes. Offset Hours shifts the day boundary from -12 to +12 hours. A value of 5 starts the day at 05:00 UTC.
Yes. ADR Projection is a closed-source premium script. It runs on Altrady's servers, so only its output reaches your chart and the code is never shared. You buy it once in the Altrady marketplace, on its own, in the Structure & Wyckoff bundle or in the Altrady Complete Suite, and it needs a paid Altrady plan to run. It is also included with your first annual Premium subscription.
Use the Get it in Altrady button on this page to open its listing in the Altrady marketplace. Once it is in your account, open the indicator picker on any chart in Altrady Charts and add ADR Projection like any other indicator. Its settings are in the indicator's settings panel.