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This indicator is intended to help traders to see today’s daily range compared to the average daily range.
You can change the number of days for the average daily range otherwise you can use 20 as the default.
The % Reach will give info about the progress today’s range toward the average daily range.
Breakout traders, or pullback traders normally will look at base area, in which they might want to know the average daily range as comparison.
The indicator has color code green and red, where the Red indicates the today’s range has reach more than 50% of the average daily range.
Less than 50%, will make the %reach and today’s range into Green color.
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