OPEN-SOURCE SCRIPT
已更新 Average hourly move by @zeusbottrading
This Pine Script called "Average hourly move by zeusbottrading" calculates and displays the average percentage price movement for each hour of the day using the full available historical data.
How the script works:
It tracks the high and low price within each full hour (e.g., 10:00–10:59).
It calculates the percentage move as the range between high and low relative to the average price during that hour.
For each hour of the day, it stores the total of all recorded moves and the count of occurrences across the full history.
At the end, the script computes the average move for each hour (0 to 23) and determines the minimum and maximum averages.
Using these values, it creates a color gradient, where the hours with the lowest average volatility are red and the highest are green.
It then displays a table in the top-right corner of the chart showing each hour and its average percentage move, color‑coded according to volatility.
What it can be used for:
In short, this script is a useful tool for traders who want to fine‑tune their trading strategies and risk management by analyzing time‑based volatility profiles.
How the script works:
It tracks the high and low price within each full hour (e.g., 10:00–10:59).
It calculates the percentage move as the range between high and low relative to the average price during that hour.
For each hour of the day, it stores the total of all recorded moves and the count of occurrences across the full history.
At the end, the script computes the average move for each hour (0 to 23) and determines the minimum and maximum averages.
Using these values, it creates a color gradient, where the hours with the lowest average volatility are red and the highest are green.
It then displays a table in the top-right corner of the chart showing each hour and its average percentage move, color‑coded according to volatility.
What it can be used for:
- Identifying when the market is historically most volatile or calm during the day.
- Helping plan trade entries and exits based on expected volatility.
- Comparing hourly volatility patterns across different markets or instruments.
- Adjusting position size and risk management according to the anticipated volatility in a particular hour.
- Using long-term historical data to understand recurring daily volatility patterns.
In short, this script is a useful tool for traders who want to fine‑tune their trading strategies and risk management by analyzing time‑based volatility profiles.
發行說明
+ option to show days of the week and their hours in detail發行說明
+ minor edits開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。