The indicator analyses the volatility and reports statistics by the time of day.
Around the world and at various times, different market participants get involved in the markets. How does this affect the market?
Knowing this gets you better prepared and improves your trading. Here are some ideas to explore:
- When is the market busy and quiet?
- What time is it the most volatile?
- Which pairs in your watchlist are moving while you are actively trading?
- Should you adjust your trading time? Should you change your trading pairs?
- When does your strategy perform the best?
- What entry times do your winners have in common? What about the exit times of your losers?
- Is it worth keeping your trade open overnight?
Tesla, Inc. (UTC+0)
Selectable time zones
Display the statistics in your geographical time zone (or other market participants), the exchange time zone, or UTC+0.
Output the report statistics as mean or median.
█ HOW TO USE
Plot the indicator and visit the 1H timeframe.
The indicator includes the volatility from gaps.
The statistics are not reported from absolute prices (does not favor trending markets) nor percentage prices (does not depict the different periods of volatility that markets can go through). Instead, the script uses the prices relative to the average range of previous days (daily ATR).
Extended trading session
The script analyses extended hours when activated on the chart.
Daylight Saving Time (DST)
The exchange time or geographical time zone selected may observe Daylight Saving Time. For example, TSLA always opens at 9:30 AM New York time but may see different opening times in another part of the globe (New York time corresponds to UTC-4 and UTC-5 during the year).
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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.