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UnknownUnicorn508364

Average Movement per Hour

UnknownUnicorn508364 Updated   
Volatility ironbutterfly strangle Forex hourly movement range
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volatility ironbutterfly strangle forex hourly movement range
This script shows average absolute values of the open minus close (or largest of open to high/low if option is selected), for each hour of the day. It can be used to find high and low volatility hours for strangles and butterflies.

You must have the daily time frame selected for it to work properly.

The "mul" multiplier will show "whole pips" (i.e. 10 instead of 0.0010) for those selected forex pairs. Add more to your liking, if you wish.

IMPORTANT: this script was built with Central Time USA in mind. You must alter the titles of each plot to adjust for your own time zone!
Release Notes:
Updated coloring for easy recognition of the current hour.
Open-source script

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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