This indicator creates a statistic to track the average range per hourly candle. Distribution for bullish candles is the range between open to high. Manipulation for bullish candles is the range between open to low. Distribution for bearish candles is the range between open to low. Manipulation for bearish candles is the range between open to high.
It has the option to filter specific days to see if price behaves differently depending of the day of the week. monday in the menu is 2, tuesday number 3, wednesday number 4, ... It has the option to show the range in pips (for forex) or points (for indices).
One can use that data to find the hour with the biggest range to try to catch the greatest range.
Release Notes
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complete rewrite of the code - visualization of the hourly candles - added „retracement“ value. example for the retracement value of a bullish candle would be high to close - to show the actual values you can hover the mouse above the hour you‘re interested in - shows error message when not using the hourly timeframe - NY Timezone - Better UX for day_filter option
for Bullish candle's the Range between Open to Low is manipulation and the range between Open to High is Distribution but since there is no option for bearish candles, how do we know that for bearish (red candles)
but since there is no option for bearish candles, how do we know that for bearish (red candles)