Average Day Range Channel with optional timeframe component. The Channel can be used as a visual tool overlayed on a security to identify price movements near exhaustion or identify trends and help determine potential volatility
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.