A Pine Script that calculates and displays average prices for two specific time ranges during a trading day, tracking price performance from 09:00 to 22:30 and 22:30 to 09:00.
Explore complementary indicator rolesHow it works
The script dynamically calculates average prices by summing closing prices within two predefined time ranges: 09:00 to 22:30 and 22:30 to 09:00. It continuously updates these averages as new price data becomes available, plotting them as color-coded lines on the chart.
The green line represents the average from 09:00 to 22:30, while the red line represents the average from 22:30 to 09:00. Black lines are used to maintain visual continuity during off-peak hours, ensuring a seamless representation of price performance across different trading periods.
Why it may be useful
This indicator provides traders with a clear visual representation of average price performance across specific time intervals, helping them understand market dynamics during different trading sessions.
By distinguishing between two distinct time ranges, traders can identify potential patterns and shifts in price movement. The color-coded approach allows for quick and intuitive interpretation of price trends, enabling traders to make more informed decisions based on average price behavior during different market hours.
When to explore it
This signal is most effective for traders focusing on intraday and short-term trading strategies, particularly in markets with well-defined trading hours. It is especially useful for assets with distinct performance characteristics during different time ranges, such as forex or cryptocurrency markets.
Traders should use this indicator when they want to compare price performance between specific time intervals and gain insights into potential market trends and momentum shifts within a single trading day.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
