Time Based Range Candle

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This indicator creates a visual candle representation from price action during a specified time period.

Key Features:

Configurable Sessions: Set any calculation period (when range is measured) and display period (when visualization appears)
Candle Visualization: Draws a large candle showing open, close, high, low with proper body coloring
Wick/Tail Analysis: Displays wicks and tails with quarter-level subdivisions based on candle type (bullish vs bearish)
End Marker: Vertical line marks exactly when the calculation period ends
Quarter Lines: Optional dotted/dashed lines showing 25%, 50%, 75% levels within body, wicks, and tails

Common Use Cases:

Overnight range analysis (18:00 - 6:00 ET) displayed during regular hours
Session-based range trading (Asian, London, NY sessions)
Custom time period analysis for any market

The indicator follows proper candle terminology where wicks and tails are measured differently for bullish vs bearish candles, making it useful for precise level analysis and range trading strategies.

8 thg 9

Phát hành các Ghi chú

Added option of showing 10% and 50 - 400% deviation lines above and below the range.

23 thg 9

Phát hành các Ghi chú

This update gives you the option to use the entire previous day's candle and the hit rate of the deviations of the calculation session range. The Display Session sets the window of the hit rate.

Ex: If you have the Calculation Session set to 10:00 -11:00 and the Display Session as 12:00 - 13:00, when 12:00 opens the indicator will populate each deviation line with the percentage of 12-13:00 sessions that hit those respective deviations of the 11-12:00 session in your lookback period.

If you use the previous daily candle, the hit rate still applies to the Display Session window of time, if you want to use the entire day set the Display Session time to 18:01 - 16:XX.

23 thg 9

Phát hành các Ghi chú

Added range statistics. Min/Max/Median/Current for Calculated Session.

For the daily, current stat is for the previous day range (current range being tracked)... not current day.