Tops & Bottoms - Time of Day Report

26. Sept. 2023

█ OVERVIEW

The indicator tracks and reports the percentage of occurrence of daily tops and bottoms by the time of the day.


█ CONCEPTS

At certain times during the trading day, the market reverses and marks the high or low of the day. Tops and bottoms are vital when entering a trade, as they will decide if you are catching the train or being straight offside. They are equally crucial when exiting a position, as they will determine if you are closing at the optimal price or seeing your unrealized profits vanish.

This indicator is before all for educational purposes. It aims to make the knowledge available to all traders, facilitate understanding of the various markets, and ultimately get to know your trading pairs by heart.


Tops and bottoms percentage of occurrence on EURGBP (London time).


Up days versus down days on EURUSD (London time).


█ FEATURES

Selectable time zones
Present the column chart in your local time zone (or other market participants).

Configurable time range filter
Select the period to report from.

Day type filter
Analyze all days, or filter only up days or down days.


█ HOW TO USE

Plot the indicator and visit the 1-hour or 30-minute timeframe.


█ NOTES

Timeframe choice
The 1-hour timeframe produces a higher number of days sampled. Prefer the usage of the 30-minute timeframe when your market starts at 9:30 AM.

Daylight Saving Time (⁣DST⁣)
The exchange time and geographical time zone options may observe Daylight Saving Time, unlike UTC+0.

15. Nov. 2023

Versionshinweise

v2

• Implemented custom sessions for analyzing tops and bottoms over different time ranges
  
• Enabled the support to the 15-minute timeframe to plot when the market starts at x:15 AM
  
• Added minor improvements