The indicator tracks and reports the percentage of occurrence of daily tops and bottoms by the time of the day.
█ CONCEPTS
At certain times during the trading day, the market reverses and marks the high or low of the day. Tops and bottoms are vital when entering a trade, as they will decide if you are catching the train or being straight offside. They are equally crucial when exiting a position, as they will determine if you are closing at the optimal price or seeing your unrealized profits vanish.
This indicator is before all for educational purposes. It aims to make the knowledge available to all traders, facilitate understanding of the various markets, and ultimately get to know your trading pairs by heart.
Tops and bottoms percentage of occurrence on EURGBP (London time).
Up days versus down days on EURUSD (London time).
█ FEATURES
Selectable time zones Present the column chart in your local time zone (or other market participants).
Configurable time range filter Select the period to report from.
Day type filter Analyze all days, or filter only up days or down days.
█ HOW TO USE
Plot the indicator and visit the 1-hour or 30-minute timeframe.
█ NOTES
Timeframe choice The 1-hour timeframe produces a higher number of days sampled. Prefer the usage of the 30-minute timeframe when your market starts at 9:30 AM.
Daylight Saving Time (DST) The exchange time and geographical time zone options may observe Daylight Saving Time, unlike UTC+0.
Informacje o Wersji
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v2
Implemented custom sessions for analyzing tops and bottoms over different time ranges
Enabled the support to the 15-minute timeframe to plot when the market starts at x:15 AM
In the name of all TradingViewers, thank you for your valuable contribution to the community, and congrats!
sbtnc
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Thank you very much, I appreciate your support!
NandaRa
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@sbtnc, hola, como puedo ponerme en contacto de forma privada para realizar unos cambios sobre un indicador?
Honestcowboy
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Beat me to the concept. Had been procrastinating on making this for a while. Very useful to intraday traders but could use some flexibility in timeframe options.
sbtnc
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Thanks for your feedback. The v2 should bring more flexibility.
Lunatic_Fringe
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How to read this indicator ? Explain.
randyfocht91
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Super idea that I have been looking for for the last couple of years...but didn't have the knowledge to code! Thank you