I joined a stock market group and in this stock group, there is a proprietary "daily trading range (or DTR)" that the founder uses. However in order to do this for all the hundreds of stocks in the stock market, he has to have a way to determine the volatility range mathematically.
I'll also attach the Excel file with the proprietary DTR (Please refer to the "DTR" worksheet or the 3rd worksheet and it is located at the bottom area). The support levels are labeled: Line in Sand, Buy Trade 2, and Buy Trade 1. The resistance levels are labeled: Sell Trade 1, Sell Trade 2, and Blue Skies if above. Excel File
Below is a video of how volatility trading ranges work: Volatility ranges at work