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ADR % — Average Daily Range

What it measures

A session's range is its high minus its low. The Average Daily Range % is the average of that range over the last 20 sessions, expressed as a percentage of the price. Unlike the Average True Range, it ignores gaps between one session's close and the next session's open.

Why it is on the page

It is a short-term traders' unit of volatility. The Technical page uses it to price one of its stop levels: an exit one ADR % below the reference price, a tight, swing-trading width (see 1R and stop levels). It is not part of the Price & timing strip, which measures volatility with ATR % alone.

Thresholds, their source and the population they were fitted on

ADR % has no zones: what is normal depends on the share.

  • Source: a short-term traders' convention (popularised by the trader known as Qullamaggie, whose stop rule the page quotes).
  • Fitted on: no population — a measurement.
  • Evidence grade: folklore.

A worked example

Celestica, as the Technical page showed it on 9 August 2026: an ADR % of about 7.5% — the stop priced one ADR % below the reference sat 7.49% under it.

What “No verdict” means here

ADR % carries no verdict and no vote. It reads insufficient data until 20 daily bars are stored.

What the verdict is and is not

The figure describes the typical size of a day's range. It says nothing about direction and is not an instruction to trade the shares.