INVITE-ONLY SCRIPT
Day of Week - Volatility Report
Updated
█ OVERVIEW
The indicator analyses the volatility and reports statistics by the days of the week.
█ CONCEPTS
On business days and weekends, different market participants get involved in the markets. How does this affect the markets during the week?
Here are some ideas to explore:
Ethereum
USDCAD
NZDUSD
█ FEATURES
Configurable outputs
Output the report statistics as mean or median.
█ HOW TO USE
Plot the indicator and visit the 1D, 24H, or 1440 minutes timeframe.
█ NOTES
Gaps
The indicator includes the volatility from gaps.
Calculation
The statistics are not reported from absolute prices (does not favor trending markets) nor percentage prices (does not depict the different periods of volatility that markets can go through). Instead, the script uses the prices relative to the average range of previous weeks (weekly ATR).
Trading session
The indicator analyses weekdays from the daily chart, defined by the exchange trading session (see Symbol Info).
Extended trading session
The indicator can include the extended hours when activated on the chart, using the 24H or 1440 minutes timeframe.
Overnight session
The indicator supports overnight sessions (open and close on different calendar days). For example, EURUSD will report Monday’s volatility from Sunday open at 17:00 to Monday close at 17:00.
This is a PREMIUM indicator. In complement, you might find useful my free Time of Day - Volatility Report.
The indicator analyses the volatility and reports statistics by the days of the week.
█ CONCEPTS
On business days and weekends, different market participants get involved in the markets. How does this affect the markets during the week?
Here are some ideas to explore:
- When are the best days for trading?
- Which day of the week is the market the most volatile?
- Should you trade on business days? Is it worth trading during the weekend?
- How does this relate to your most profitable trades?
- Is there a confluence with the days having the highest win rate?
- Which days of the week should you stop trading?
Ethereum
USDCAD
NZDUSD
█ FEATURES
Configurable outputs
Output the report statistics as mean or median.
█ HOW TO USE
Plot the indicator and visit the 1D, 24H, or 1440 minutes timeframe.
█ NOTES
Gaps
The indicator includes the volatility from gaps.
Calculation
The statistics are not reported from absolute prices (does not favor trending markets) nor percentage prices (does not depict the different periods of volatility that markets can go through). Instead, the script uses the prices relative to the average range of previous weeks (weekly ATR).
Trading session
The indicator analyses weekdays from the daily chart, defined by the exchange trading session (see Symbol Info).
Extended trading session
The indicator can include the extended hours when activated on the chart, using the 24H or 1440 minutes timeframe.
Overnight session
The indicator supports overnight sessions (open and close on different calendar days). For example, EURUSD will report Monday’s volatility from Sunday open at 17:00 to Monday close at 17:00.
This is a PREMIUM indicator. In complement, you might find useful my free Time of Day - Volatility Report.
Release Notes
v2.0- Added new modes of comparison (weekly distribution and comparison to an average day)
- Allowed the range selection for analyzing the data over a defined period
- Fixed an error related to `str.format_time()`
- Added minor improvements
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact sbtnc for more information, or follow the author's instructions below.
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👨💻 Pine Script developer for hire
⭐️ Listed as "Trusted Pine Programmer"
🔒 Premium indicators: sbtnc.gumroad.com
⭐️ Listed as "Trusted Pine Programmer"
🔒 Premium indicators: sbtnc.gumroad.com
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.