The Average Range is a core metric used to measure an asset's volatility. This indicator evolves the classic concept by integrating the powerful principles taught by The Inner Circle Trader (ICT). It calculates the average difference between the highest and lowest price over a specific time interval and projects this range forward to identify key algorithmic price levels. The central idea is that markets operate within predictable, algorithmically defined ranges. This tool decodes these ranges across multiple timeframes, from intraday sessions to monthly cycles. It provides the :
Average Session Range (ASR), with 8 customizable sessions: ETH / RTH / Asia / London / NY-AM-KZ / NY-AM-RTH / NY-L / NY-PM-RTH
Average Daily Range (ADR),
Average Weekly Range (AWR),
Average Monthly Range (AMR).
A key concept is the 1/3rd range level, which is often used to identify the potential exhaustion point of a "Judas Swing" – a false move designed to trap market participants before the real move begins. By understanding these projected ranges, traders can gain a significant edge in identifying high-probability targets, reversal zones, and entry points.
Beyond the classic 1/3rd levels, the indicator also features a comprehensive suite of fractional subdivisions, including Equilibrium (EQ), Quadrants (1/4), Octants (1/8), and Sedecimants (1/16). It also incorporates visual Premium/Discount (P/D) boxes to instantly identify whether the current price is trading in a premium or discount relative to the algorithmically projected range.
2. Logic
The indicator calculates the average range of a specific period (day, week, month, or custom session) over a user-defined lookback window. It then projects this average range both above and below an anchor price.
2.1. The Anchor By default, the range is projected from the opening price of the current period. Alternatively, it can be calculated from the previous period's closing price, which also enables a live projection for the next period.
2.2. Projections The full average range and the critical 1/3rd levels are drawn on the chart. These levels often act as significant points of support or resistance where order flow is likely to react.
2.3. Extended Fractional Projections: In addition to the full and 1/3rd ranges, you can now plot deeper geometric levels. Equilibrium (EQ) marks the exact midpoint of the projected range. Quadrants (1/4), Octants (1/8), and Sedecimants (1/16) subdivide the range further, providing a highly granular grid for precision entries, partial take-profits, and scaling into trades.
2.4. Premium / Discount (P/D) Boxes: A visually intuitive overlay that shades the upper half of the projected range (from EQ to the High) to denote 'Premium' territory, and the lower half (from EQ to the Low) to represent 'Discount' territory, aiding in rapid spatial orientation for buy/sell programs.
2.5. Time is Key The effectiveness of these levels is deeply connected to the element of time. A reaction at the 1/3rd ADR level during the London or New York open holds more weight than one occurring late in the trading day. This aligns with the ICT concept of the Power of Three: Accumulation, Manipulation, and Distribution.
2.6. Data Table An integrated data table displays the historical ranges for each enabled period. This provides a clear narrative on volatility; a series of smaller-than-average ranges may precede a significant expansion, while larger ranges can signal impending consolidation.
2.7 US Market Holiday Filters These functionalities prevent low-volume holiday trading from distorting the range calculations, ensuring the data reflects true institutional participation.
3. Settings & Options
This indicator is highly customizable to fit any trading style or asset class.
3.1. Master Switches
ASR, ADR, AWR, AMR: Individually enable or disable each of the four average range calculations to keep your chart clean and focused.
3.2. Range Calculation Settings
Periods: Set the lookback period (e.g., 5 days, 4 weeks) for each range calculation.
Range Boundary Type (Daily only): Choose between two crucial calculation methods:
Classic (Market Open to Close): Uses the standard daily candle data.
ICT True Day New York (Midnight to Midnight): Aligns the calculation with the ICT methodology, using a 24-hour cycle based on New York midnight.
Half Range Projection Mode: When checked, projects half the average range up and down from the anchor (for a total visual box of 1x the average). When unchecked, it projects the full range up and down (2x total).
AR on the Close: When enabled, this anchors the calculation to the previous period's close and projects the next period's range forward on the live bar.
3.3. Average Session Range (ASR) Settings
The ASR module includes 8 fully customizable and individually toggleable trading sessions, allowing for deep analysis of intraday volatility:
ETH (18:00 - 09:30)
RTH (09:30 - 16:15)
Asia (19:00 - 21:00)
London (02:00 - 05:00)
NY-KZ (07:00 - 09:30)
NY-AM (09:30 - 11:30)
NY-L (11:30 - 13:30)
NY-PM (13:30 - 16:15)
3.4. US Market Holiday & Early Close Filters To keep your Average Daily Range (ADR) and session projections highly accurate, this indicator features a built-in US calendar. It prevents low-volume holidays and half-days from artificially shrinking your mathematical averages and distorting your live charts. Here is how the four main settings work together to protect your data:
Enable Holiday Filters: This is the master switch for the internal calendar. When checked, the indicator actively detects official US market holidays. This allows the script to correctly freeze the live tracking lines on your chart when the market is closed, rather than drawing distorted data.
Exclude Holidays from Array: This is your math protector. When enabled, it completely skips the tiny price ranges of holidays and half-days, blocking them from being added to your historical memory. This prevents low-volume days from dragging down your future expected ranges.
Enable Half-Day / Early Close Filters: This specifically targets days where the market opens but closes early (such as Black Friday, Christmas Eve, and the day before Independence Day). Instead of treating them as normal full-volume days, it flags them so their data doesn't skew your averages.
Close Hour: This setting works hand-in-hand with the Half-Day filter. It tells the indicator exactly what time (in Eastern Standard Time) to stop updating the live High and Low on your chart during an early close day. The default is 13 (1:00 PM EST).
3.5. Visual & Display Settings
Historical Levels: Show or hide past range projections on the chart.
Line Styles: Independently customize the style (solid, dashed, dotted), width, and color for the full range, 1/3rd range, and anchor lines.
Auto Color: Automatically color lines based on bullish or bearish direction.
Data Table: A toggle to show or hide the range table, with options for size and screen position.
Text Labels & Tooltips: Show or hide text labels on the projection lines. A powerful hover-over tooltip provides detailed information, including the precise price, range size, and potential bullish/bearish percentage change.
Advanced Level Toggles: Individually show or hide specific fractional line sets (H/L, 1/3, EQ, 1/4, 1/8, 1/16) across all selected ranges. This allows you to maintain a clean chart while accessing deep fractional geometry only when needed.
P/D Box Customization: Enable or disable the Premium/Discount background boxes for each range independently, complete with fully adjustable color and opacity settings for both halves.
4. Under the Hood: Engineered for Performance
Master-Dependent Input Controls: The settings panel is now fully dynamic. All sub-settings are natively linked to their respective Master Switches (ASR, ADR, AWR, AMR).
Auto-Graying Logic: When you uncheck a main Master Switch, all related sub-settings (colors, line widths, history length, etc.) will automatically gray out. This eliminates menu clutter and prevents confusion over which settings are currently active on your chart.
Smart Visibility: This dynamic gray-out logic has also been applied to the Text Labels, Tooltips, Tables, and Holiday filters. If a parent feature is turned off, its dependent formatting options instantly become inactive, making the indicator much easier to customize.
Shipping Details / Offers The products and services on this site are software-based and electronic in nature (not physical items) and are delivered via the internet and electronic networks. Therefore, physical shipping is not applicable.
Merchant Return Policy / Offers The products and services on this site are software-based and electronic in nature (not physical items). Therefore, physical returns are not possible. Customers are entitled to a limited-time free trial to test and evaluate the products and services. Once the trial period ends, they can opt to purchase a prepaid monthly, quarterly, or yearly subscription.
Merchant Refund Policy / Offers All Product and Service subscriptions may be canceled, with refunds calculated on a prorated basis for the unused portion of the term. Customers subscribed to a long-term discounted plan may request a cancellation and refund. The refund amount will be calculated based on the standard monthly rate for the period used, less a €50 administrative and processing fee per cancellation.