Intraday Background Time Ranges

24 sie 2022

This simple script was written for studying recurring intraday behaviours of financial instruments. With it, you can highlight up to 13 customizable time ranges on your chart, filling the corresponding background space with colors you prefer. You can then write a note for each range and it will be shown in the optional related table.

The experience shows that every financial instrument has its own personality. With this in mind, the script can be useful to study intraday charts with the purpose of discovering recurring behaviours of specific instruments over a certain time range and under specific circumstances (normal days, earnings days, days with catalysts, etc.) This can help the trader to deeply understand the instrument personality, and therefore also to decide whether to enter or exit the market if its behaviour meets or not his expectations.

Please note that this script only works on minute/hourly charts.

17 lut 2023

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Minor fix: Now the table won't appear without any text.

Cleaned the code.

25 lut 2023

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Update:

1) Shortened the short title, which now is "Time Ranges".

2) Removed the seconds time frame limitation.

3) Cleaned, simplified and improved the overall appearance of the code.

7 cze 2023

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UPDATE:

Added 17 additional time ranges, bringing the total to 30.

20 lip 2023

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UPDATE:

This new version includes the option to choose whether to project the colors ahead of time, allowing you to see them even before the price reaches the specified time.
In order to achieve this purpose, I had to modify the input mode for the time ranges.