Session Statistics

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This Pine Script indicator, "Session Statistics," is a comprehensive volatility analysis tool designed for intraday and daily trading on TradingView. Here's what it does:
It continuously tracks each session's opening price, highest point, and lowest point throughout the trading day
Historical Data Storage: As each trading session completes, the script saves that session's high and low values into arrays. It maintains a rolling database of completed sessions, allowing it to analyze the last N sessions (user-defined, default 20)
Statistics Table
A comprehensive table displays in the top-right corner showing:​

Sessions analyzed (e.g., "200 of 269")

Standard deviation (absolute points and percentage)

Variance (absolute and percentage)

Average range (absolute and percentage)

Current session's range in progress (highlighted in yellow)
Practical Trading Applications
Expected Move Calculations: The standard deviation levels help traders set realistic profit targets and stop losses based on how far price typically moves in a session.​

Volatility Context: By comparing today's current range to the average range, traders can identify whether the market is experiencing normal, low, or high volatility.​

Mean Reversion Trading: When price reaches ±2σ or ±3σ levels, it indicates an unusually large move that may reverse back toward the mean.​

Breakout Identification: If price breaks through the standard deviation bands, it signals potentially significant directional moves beyond normal range expectations.

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Phát hành các Ghi chú

some visual improvements from the prev version