~~Shown here on SPX 5min chart. Works all variants of the US indices. SPX and SPY typically show more days of history (non-extended session =>> more bars).
-To get statistics on the timings of the high and low of the opening hour and the high & low of the closing hour.
//Design & Limitations:
-Designed for the 5minute chart ONLY. Need a sweet spot of 'bucket' size for the statistics: to allow meaningful comparison between times.
-Will also display on 1min chart but NOT the statistics panel, only the realtime data (today's opening hour/ closing hour timings).
-Can be slow to load depending on server load at the time. This is becasue of the multiple usage of looping array functions. Please be patient when loading or changing settings.
-Standard formatting options: highlight color, table text color. Toggle on/off independently
-Decimal % percision (default = 0, i.e. 23%. If set to 1 => 22.8%)
-Show statistics: Show Opening hour statistics, Show Closing hour statistics
-Days of history shown at top of table; this is the size of the dataset. i.e. 254 here (254 trading days) =>> 254 opening hour highs, 254 closing hour lows etc.
--to illustrate with the above: 18% of those 254 closing hour highs occured on the 15:00 5min candle (i.e. between 15:00 and 15:05).
-SPY or SPX offer the largest history/dataset (circa 254 trading days).
-Note that the final timing in each hour is 10:25am and 15:55pm respectively: this is because the 10:25am 5min candle essentially ends at 10:30am =>> we properly captures the opening hour this way
-Pro+ users will get less data history than Premium users (half as much, due to 10k vs 20k bars history limit).
-Added Timezone support.
Example usage with User hour#2 ONLY selected and set to 8am-9am; for Bond opening hour: ZB1! 5min (US 30yr treasury bonds)
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.