This indicator plot rectangle of Average Day Range of different periods and therefore how far the market travels on average.

So the marked levels could be used as support / resistance levels or objectives.

The indicator uses 20 day average.

Converted from a MT4 indicator as requested in the ProBuilder english forum.

//PRC_TSR_DailyRange_display | indicator
//11.12.2018
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//translated from MT4 version

defparam drawonlastbaronly=true

if day<>day[1] then 
 startbar=barindex
 FIVE=0
 TEN=0
 TWENTY=0
 for i = 1 to 20 do
  if i<6 then
   FIVE=FIVE+(dhigh(i)-dlow(i))
  endif
  if i<11 then
   TEN=TEN+(dhigh(i)-dlow(i))
  endif
  TWENTY=TWENTY+(dhigh(i)-dlow(i))
 next
 FIVE = FIVE/10
 TEN = TEN/20
 TWENTY = TWENTY/40
 AV = (FIVE+TEN+TWENTY)/3
endif

HIDaily = dhigh(0)-(AV)
LOWDaily = dlow(0)+(AV)
HIDaily1 = dhigh(0)
LOWDaily1 =dlow(0)
HIDaily2 = dhigh(0)-(AV)*2
LOWDaily2 =dlow(0)+(AV)*2

drawrectangle(startbar,HiDaily,barindex,LOWDaily) coloured(128,0,0)
drawrectangle(startbar,HiDaily1,barindex,LOWDaily1) coloured(0,100,0)
drawrectangle(startbar,HiDaily2,barindex,LOWDaily2) coloured(0,44,9)
center=max(startbar+(barindex-startbar)/2,1)
drawtext("Top Daily Range",center,LowDaily2,Dialog,Bold,16) coloured(244,164,96)
drawtext("Bottom Daily Range",center,HiDaily2,Dialog,Bold,16) coloured(244,164,96)
drawtext("             High",barindex,dhigh(0),Dialog,Bold,16) coloured(154,205,50)
drawtext("             Low",barindex,dlow(0),Dialog,Bold,16) coloured(154,205,50)
drawtext("             Open",barindex,dopen(0),Dialog,Bold,16) coloured(244,164,96)
RETURN