A statistical indicator tracking the hourly likelihood of an asset's highest and lowest price points throughout the trading day, providing insights into price timing patterns.
Explore complementary indicator rolesHow it works
The indicator calculates the High of Day (HoD) and Low of Day (LoD) for each trading day, sorting these extreme points into hourly 'buckets' from 0-23. By tracking the frequency of these occurrences across historical data, the system generates percentages showing the likelihood of an asset reaching its daily high or low during specific hours.
Each hour is represented as a starting point, meaning hour 14 captures all HoD or LoD events between 14:00 and 15:00. The indicator allows customization of timezone and day start time to ensure accurate statistical representation, with options to verify data accuracy through visual aids and bar replay functionality.
Why it may be useful
Understanding the temporal patterns of an asset's price extremes can provide traders with strategic insights into potential market behavior and timing opportunities. By revealing statistically significant hours when prices are more likely to reach their daily highs or lows, traders can optimize their entry and exit strategies.
This analysis helps traders anticipate potential market movements, adjust their trading schedules, and develop more precise timing strategies. The indicator's ability to show consistent patterns across different assets can enhance decision-making and provide a data-driven approach to understanding market dynamics.
When to explore it
This indicator is most effective when used on hourly charts with substantial historical data, ideally for 24-hour assets like cryptocurrencies or major index futures. It works best with assets that have consistent trading volumes and patterns, allowing for more meaningful statistical analysis.
Traders should apply this tool when seeking to understand subtle market timing nuances, particularly for day trading and scalping strategies. It is particularly useful when combined with other technical indicators and when used on markets with clear, repeatable intraday patterns such as stock index futures or major forex pairs.
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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.
