Intraday vs Overnight Change Tracker

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This indicator tracks a synthetic price path based on either intraday or overnight return behavior, allowing users to analyze which component of daily price movement is contributing more to long-term performance.

***THIS INDICATOR ONLY WORKS ON THE DAILY TIMEFRAME***

Intraday mode compounds price change from market open to close: close / open

Overnight mode compounds price change from previous close to current open: open / close[1]

The user can select one of these two modes using a dropdown input. The synthetic price series starts from the second bar of the chart and compounds forward bar-by-bar using the selected return type. The result is a line that reflects cumulative return based solely on either intraday or overnight activity.

⚙️ Inputs
Synthetic Price Type: Select between "Intraday" or "Overnight" to visualize the respective compounded price series.

📈 Usage Notes
This indicator is intended for visual comparison of intraday vs. overnight price dynamics over time. It can be useful for identifying behavioral patterns, session-based return anomalies, or testing session bias strategies.

Only one synthetic line is shown at a time based on user selection.

If you want to view both intraday and overnight lines, then you can add the indicator twice, which is shown above.

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Phát hành các Ghi chú

Added third drop-down option to show both Intraday and Overnight charts on the same plot.

I made this as the default option when loading the indicator.