Session stat map

Mar 25

Overview
The Session Stat Map indicator is a powerful tool for traders looking to analyze pre-market price action and project key levels into the trading day. Designed as an overlay indicator, it identifies critical price zones—such as session highs/lows, standard deviation (StdDev) levels, Fibonacci retracements/extensions, and statistical extensions—based on a customizable pre-market session (default: 6:00–9:00 EST). It then tracks how often these levels are hit during a subsequent session (default: 9:00–12:00 EST), offering historical hit statistics by weekday to help you anticipate potential support, resistance, and price targets.
What It Does
Pre-Market Analysis: Captures the opening price, high, and low during a user-defined pre-market session to establish a range and key levels.
Level Projection: Extends lines for session open, high/low, StdDev levels, Fibonacci levels, and extensions into the future, making them easy to spot on your chart.
Hit Statistics: Monitors how frequently price reaches these levels during a later session, breaking down results by weekday (Monday–Friday) with hit counts, percentages, and median times-to-hit.
Visual Tools: Displays a range box for the pre-market session, an anchor line, and customizable lines/labels for each level type, plus an optional stats table.
How to Use It
Add to Chart: Install the Session Stat Map via TradingView’s Pine Editor and apply it to your chart.
Set Your Sessions: Use the input panel to define the pre-market session (e.g., 6:00–9:00 EST) for level calculation and the stats session (e.g., 9:00–12:00 EST) for tracking hits.
Interpret Levels: Watch the projected lines as potential support/resistance zones during the trading day. The range box highlights the pre-market range, while the anchor line marks the session’s starting point.
Leverage Stats: Enable the hit stats table to see which levels are hit most often, how quickly, and on which days—perfect for refining your strategy.
Trade with Confidence: Use these levels for entries, exits, stop-losses, or to gauge breakout/breakdown potential based on historical tendencies.
Input Panel Options
The indicator’s input panel lets you tailor its behaviour and appearance. Here’s what each section does:
Session Settings
Levels Session Time: Set the time window (e.g., "0600-0900" for 6:00–9:00) to analyse pre-market price action and calculate levels.
Time Zone: Choose your time zone (e.g., "America/New_York") to align session times with your market.
Stats Session Time: Define the time range (e.g., "0900-1200" for 9:00–12:00) to track how often levels are hit.
Anchor Settings
Show Session Anchor: Toggle the anchor line (drawn at the session open price).
Style, Colour, Width: Customize the anchor line’s look (e.g., dotted, black, 1px wide).
Show Anchor Label: Add a label ("Anchor") above the line.
Session Open Line Settings
Show Session Open Line: Display a line at the session’s opening price.
Style, Colour, Width: Adjust its appearance (e.g., dotted, gray, 1px wide).
Show Session Open Label: Include a "Session Open" label.
Range Box Settings
Show Range Box: Draw a box showing the pre-market high-to-low range.
Colour: Pick the box’s fill colour (e.g., semi-transparent yellow).
Range StdDev Settings
Show Range StdDev Levels: Plot lines above/below an anchor point based on standard deviation.
Style, Colour, Width: Customize these lines (e.g., solid, blue, 1px wide).
Show Labels: Add labels like "+1σ Range" or "-2σ from Low".
StdDev Level 1 & 2: Set two StdDev multipliers (e.g., 1.0 and 2.0) to define how far these levels extend (range: 0.1–5.0).
StdDev Anchor Point: Choose "Open" (session open) or "High/Low" (session extremes) as the base for StdDev calculations.
Fibonacci Settings
Show Fibonacci Levels: Display retracement levels within the pre-market range.
Colour, Style, Width: Adjust the lines (e.g., green, dashed, 1px wide).
Show Labels: Show the Fibonacci values (e.g., 0.236, 0.382).
Fib Level 1, 2, 3: Set three retracement levels (e.g., 0.236, 0.382, 0.618; range: 0–1).
Fibonacci Anchor: Base levels from either "Low" (session low) or "Open" (session open).
Fibonacci Extension Settings
Show Fibonacci Extensions: Plot extension levels beyond the pre-market range.
Colour, Style, Width: Customize the lines (e.g., teal, dashed, 1px wide).
Show Labels: Add labels like "+0.5 Range".
Fib Ext Level 1 & 2: Define two extension multipliers (e.g., 0.5 and 1.0; range: 0–5).
Session High/Low Line Settings
Show Session High/Low Lines: Draw lines at the pre-market high and low.
Style, Colour, Width: Adjust their look (e.g., dashed, red, 1px wide).
Show Labels: Include "Session High" and "Session Low" labels.
Extension Stats Settings
Show Extension Stats: Plot mean and median extension levels (above high/below low).
Extension Anchor Point: Anchor extensions to "Open" or "High/Low".
Display Settings
Projection Offset: Set how many bars forward the lines extend (e.g., 24 bars).
Label Size: Choose the size of all labels (Tiny, Small, Normal, Large).
Hit Stats Table Settings
Show Hit Stats Table: Display a table with hit counts, percentages, and median times-to-hit by weekday.
Table Position: Place the table on the chart (e.g., "Top Right").
Text Size: Adjust table text (Auto, Tiny, Small, Normal, Large, Huge).
Text Colour, Background, Frame, Border: Customize the table’s appearance.
Border Width, Frame Width: Set the thickness of the table’s borders and frame.
Tips for Traders
Tailor to Your Market: Adjust session times and time zones to fit forex, stocks, or other instruments.
Simplify the View: Toggle off unused levels to keep your chart clean.
Use Stats Wisely: Check the table to spot patterns (e.g., frequent hits on Wednesdays) and plan trades accordingly.
Experiment: Test different StdDev or Fibonacci levels to match your risk tolerance or trading style.
The Session Stat Map indicator combines pre-market analysis with actionable levels and data-driven insights, making it a versatile addition to any trader’s toolkit. Happy trading!

Apr 1

Release Notes

Updated to include price in the label for each level being plotted