Some traders focus on trading sessions during trading. Figure 1 shows the average price swing over one week. It can be seen that trading sessions differ in their duration and activity on different days.
This indicator is designed to estimate the average price movement at certain time intervals within a weekly cycle. It takes into account the price movement up and down separately from each other and makes it possible to determine the moments when high volatility is possible in the market.
On the chart, the upward movement is shown above the average line, the price movement down is below the average line. The green histogram shows the average movement calculated from historical data. The red histogram shows the actual price movement. The accumulated difference between the price movement in points is additionally displayed in the upper right corner. At the beginning of each week, the counter is reset to zero.
The indicator can work on all timeframes M1 – D1. All settings of the indicator relate to its appearance and do not affect its operation.
When working in real time, the indicator uses the available data from the symbol chart. And when using the indicator in the strategy tester, it is necessary to give it the opportunity to accumulate statistical data on the history.