Hourly Range Statistics

Volatility-by-hour indicators usually plot a per-bar oscillator: useful for reading one bar against its hour's history, but slow for answering the simpler question "which hours on this symbol are worth being at the screen for." This is a snapshot table instead - 24 rows, one per broker- time hour, each showing the average high-low range in points, the number of bars sampled and the percentage that closed above their open, built from the last InpLookbackBars closed bars. Because it is a table rather than a plotted series, it recomputes from a full scan each time it refreshes rather than maintaining a running per-bar average - and it only refreshes when a new bar actually closes, not on every tick, which is what keeps a two-thousand-bar scan cheap on a live chart. Notes and limitations - Hours are broker (server) time, not the trader's local time. - A row with a low bar count is a thin sample; treat it as informational, not a statistically solid edge, especially on short InpLookbackBars values or symbols with limited history loaded in the terminal. - This has no plotted buffer and no signal, so nothing here can repaint - the panel simply restates what the loaded history already shows. - On weekly or monthly charts every bar spans many hours, so this indicator is only meaningful on intraday timeframes.

Indicator · MT5 · v1.0 · Free

Tags: Oscillator · MT5 Indicator · MQL5 Source Code

MetaTrader 4 & 5 indicators · PolyMaria