Most active hours indicator v2

This topic has 4 replies, 2 voices, and was last updated 5 years ago by Vonasi.

Tagged: active hours, best time, hours to trade, market hours, trading hours

Viewing 5 posts - 1 through 5 (of 5 total)

12/11/2018 at 10:39 AM #86780

Vonasi

In another ProOrder discussion Nicolas pointed out this indicator in the library that I hadn’t spotted before:

https://www.prorealcode.com/prorealtime-indicators/active-hours-trading-indicator/

I thought that the output could be more easy to read graphically so I re-wrote it a little.

Now each hour is displayed under the hour it represents and an all time average is calculated and any hour above this average is highlighted with a darker colour.

I can post it in the library if Nicolas thinks that it is a worthwhile update on the original code.

Thanks to throwaway200 for the original idea.

//Most Active Hours v2
//By Vonasi (thanks to throwaway200 for the idea)
//20181211

//defparam calculateonlastbars = 1000

IF openhour = 0 THEN
H0 = (H0 + (High - Low))
H0Count = (H0Count + 1)
ThisHour = (H0 / H0Count)
drawvline(barindex) coloured(0,0,255)
ELSIF openhour = 1 THEN
H1 = (H1 + (High - Low))
H1Count = (H1Count + 1)
ThisHour = (H1 / H1Count)
ELSIF openhour = 2 THEN
H2 = (H2 + (High - Low))
H2Count = (H2Count + 1)
ThisHour = (H2 / H2Count)
ELSIF openhour = 3 THEN
H3 = (H3 + (High - Low))
H3Count = (H3Count + 1)
ThisHour = (H3 / H3Count)
ELSIF openhour = 4 THEN
H4 = (H4 + (High - Low))
H4Count = (H4Count + 1)
ThisHour = (H4 / H4Count)
ELSIF openhour = 5 THEN
H5 = (H5 + (High - Low))
H5Count = (H5Count + 1)
ThisHour = (H5 / H5Count)
ELSIF openhour = 6 THEN
H6 = (H6 + (High - Low))
H6Count = (H6Count + 1)
ThisHour = (H6 / H6Count)
ELSIF openhour = 7 THEN
H7 = (H7 + (High - Low))
H7Count = (H7Count + 1)
ThisHour = (H7 / H7Count)
ELSIF openhour = 8 THEN
H8 = (H8 + (High - Low))
H8Count = (H8Count + 1)
ThisHour = (H8 / H8Count)
ELSIF openhour = 9 THEN
H9 = (H9 + (High - Low))
H9Count = (H9Count + 1)
ThisHour = (H9 / H9Count)
ELSIF openhour = 10 THEN
H10 = (H10 + (High - Low))
H10Count = (H10Count + 1)
ThisHour = (H10 / H10Count)
ELSIF openhour = 11 THEN
H11 = (H11 + (High - Low))
H11Count = (H11Count + 1)
ThisHour = (H11 / H11Count)
ELSIF openhour = 12 THEN
H12 = (H12 + (High - Low))
H12Count = (H12Count + 1)
ThisHour = (H12 / H12Count)
ELSIF openhour = 13 THEN
H13 = (H13 + (High - Low))
H13Count = (H13Count + 1)
ThisHour = (H13 / H13Count)
ELSIF openhour = 14 THEN
H14 = (H14 + (High - Low))
H14Count = (H14Count + 1)
ThisHour = (H14 / H14Count)
ELSIF openhour = 15 THEN
H15 = (H15 + (High - Low))
H15Count = (H15Count + 1)
ThisHour = (H15 / H15Count)
ELSIF openhour = 16 THEN
H16 = (H16 + (High - Low))
H16Count = (H16Count + 1)
ThisHour = (H16 / H16Count)
ELSIF openhour = 17 THEN
H17 = (H17 + (High - Low))
H17Count = (H17Count + 1)
ThisHour = (H17 / H17Count)
ELSIF openhour = 18 THEN
H18 = (H18 + (High - Low))
H18Count = (H18Count + 1)
ThisHour = (H18 / H18Count)
ELSIF openhour = 19 THEN
H19 = (H19 + (High - Low))
H19Count = (H19Count + 1)
ThisHour = (H19 / H19Count)
ELSIF openhour = 20 THEN
H20 = (H20 + (High - Low))
H20Count = (H20Count + 1)
ThisHour = (H20 / H20Count)
ELSIF openhour = 21 THEN
H21 = (H21 + (High - Low))
H21Count = (H21Count + 1)
ThisHour = (H21 / H21Count)
ELSIF openhour = 22 THEN
H22 = (H22 + (High - Low))
H22Count = (H22Count + 1)
ThisHour = (H22 / H22Count)
ELSIF openhour = 23 THEN
H23 = (H23 + (High - Low))
H23Count = (H23Count + 1)
ThisHour = (H23 / H23Count)
ENDIF

avg = (h0 + h1 + h2 + h3 + h4 + h5 + h6 + h7 + h8 + h9 + h10 + h11 + h12 + h13 + h14 + h15 + h16 + h17 + h18 + h19 + h20 + h21 + h22 + h23)/(h0count + h1count + h2count + h3count + h4count + h5count + h6count + h7count + h8count + h9count + h10count + h11count + h12count + h13count + h14count + h15count + h16count + h17count + h18count + h19count + h20count + h21count + h22count + h23count)

c = 155
if ThisHour > Avg then
c = 255
endif

RETURN thishour coloured (100,149,237,c) style(histogram, 2) as "Average Range", avg coloured(0,0,255) style(line,1) as "All Time Average"

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//Most Active Hours v2

//By Vonasi (thanks to throwaway200 for the idea)

//20181211

//defparam calculateonlastbars = 1000

IF openhour = 0 THEN

H0 = (H0 + (High - Low))

H0Count = (H0Count + 1)

ThisHour = (H0 / H0Count)

drawvline(barindex) coloured(0,0,255)

ELSIF openhour = 1 THEN

H1 = (H1 + (High - Low))

H1Count = (H1Count + 1)

ThisHour = (H1 / H1Count)

ELSIF openhour = 2 THEN

H2 = (H2 + (High - Low))

H2Count = (H2Count + 1)

ThisHour = (H2 / H2Count)

ELSIF openhour = 3 THEN

H3 = (H3 + (High - Low))

H3Count = (H3Count + 1)

ThisHour = (H3 / H3Count)

ELSIF openhour = 4 THEN

H4 = (H4 + (High - Low))

H4Count = (H4Count + 1)

ThisHour = (H4 / H4Count)

ELSIF openhour = 5 THEN

H5 = (H5 + (High - Low))

H5Count = (H5Count + 1)

ThisHour = (H5 / H5Count)

ELSIF openhour = 6 THEN

H6 = (H6 + (High - Low))

H6Count = (H6Count + 1)

ThisHour = (H6 / H6Count)

ELSIF openhour = 7 THEN

H7 = (H7 + (High - Low))

H7Count = (H7Count + 1)

ThisHour = (H7 / H7Count)

ELSIF openhour = 8 THEN

H8 = (H8 + (High - Low))

H8Count = (H8Count + 1)

ThisHour = (H8 / H8Count)

ELSIF openhour = 9 THEN

H9 = (H9 + (High - Low))

H9Count = (H9Count + 1)

ThisHour = (H9 / H9Count)

ELSIF openhour = 10 THEN

H10 = (H10 + (High - Low))

H10Count = (H10Count + 1)

ThisHour = (H10 / H10Count)

ELSIF openhour = 11 THEN

H11 = (H11 + (High - Low))

H11Count = (H11Count + 1)

ThisHour = (H11 / H11Count)

ELSIF openhour = 12 THEN

H12 = (H12 + (High - Low))

H12Count = (H12Count + 1)

ThisHour = (H12 / H12Count)

ELSIF openhour = 13 THEN

H13 = (H13 + (High - Low))

H13Count = (H13Count + 1)

ThisHour = (H13 / H13Count)

ELSIF openhour = 14 THEN

H14 = (H14 + (High - Low))

H14Count = (H14Count + 1)

ThisHour = (H14 / H14Count)

ELSIF openhour = 15 THEN

H15 = (H15 + (High - Low))

H15Count = (H15Count + 1)

ThisHour = (H15 / H15Count)

ELSIF openhour = 16 THEN

H16 = (H16 + (High - Low))

H16Count = (H16Count + 1)

ThisHour = (H16 / H16Count)

ELSIF openhour = 17 THEN

H17 = (H17 + (High - Low))

H17Count = (H17Count + 1)

ThisHour = (H17 / H17Count)

ELSIF openhour = 18 THEN

H18 = (H18 + (High - Low))

H18Count = (H18Count + 1)

ThisHour = (H18 / H18Count)

ELSIF openhour = 19 THEN

H19 = (H19 + (High - Low))

H19Count = (H19Count + 1)

ThisHour = (H19 / H19Count)

ELSIF openhour = 20 THEN

H20 = (H20 + (High - Low))

H20Count = (H20Count + 1)

ThisHour = (H20 / H20Count)

ELSIF openhour = 21 THEN

H21 = (H21 + (High - Low))

H21Count = (H21Count + 1)

ThisHour = (H21 / H21Count)

ELSIF openhour = 22 THEN

H22 = (H22 + (High - Low))

H22Count = (H22Count + 1)

ThisHour = (H22 / H22Count)

ELSIF openhour = 23 THEN

H23 = (H23 + (High - Low))

H23Count = (H23Count + 1)

ThisHour = (H23 / H23Count)

ENDIF

avg = (h0 + h1 + h2 + h3 + h4 + h5 + h6 + h7 + h8 + h9 + h10 + h11 + h12 + h13 + h14 + h15 + h16 + h17 + h18 + h19 + h20 + h21 + h22 + h23)/(h0count + h1count + h2count + h3count + h4count + h5count + h6count + h7count + h8count + h9count + h10count + h11count + h12count + h13count + h14count + h15count + h16count + h17count + h18count + h19count + h20count + h21count + h22count + h23count)

c = 155

if ThisHour > Avg then

c = 255

endif

RETURN thishour coloured (100,149,237,c) style(histogram, 2) as "Average Range", avg coloured(0,0,255) style(line,1) as "All Time Average"

Vonasi

Moderator

Topics: 192

Replies: 5088

Been thanked: 1810 times

12/11/2018 at 11:09 AM #86797

Nicolas

Yes, that will be a good addition to the library, please do share it there, thanks.

Nicolas

Keymaster

Topics: 81

Replies: 20828

Been thanked: 4738 times

12/11/2018 at 11:14 AM #86798

Vonasi

I have also converted it to check for the most active months just for interest.

I will submit both versions to the library as one indicator.

1 user thanked author for this post.

Nicolas

Vonasi

Moderator

Topics: 192

Replies: 5088

Been thanked: 1810 times

12/14/2018 at 5:13 PM #87120

Vonasi

An interesting alternative is to based the indicator on hourly volume rather than hourly range. Potentially trading in only high volume hours and with take profit and stop loss values adjusted each hour based on the historical range from the first indicator. This might be a nice trading idea to test out rather than basing the levels on average true range – which will be taking into account out of hours, low volume, low range candles for their calculations – so the ATR will be lower than truly can be expected during the best trading hours. I feel another indicator coming on…..!

Here’s the adjusted code for the hourly chart:

//Most Active Hours Volume 
//By Vonasi (thanks to throwaway200 for the idea)
//20181211

//defparam calculateonlastbars = 1000

IF openhour = 0 THEN
H0 = (H0 + volume)
H0Count = (H0Count + 1)
ThisHour = (H0 / H0Count)
drawvline(barindex) coloured(0,0,255)
ELSIF openhour = 1 THEN
H1 = (H1 + volume)
H1Count = (H1Count + 1)
ThisHour = (H1 / H1Count)
ELSIF openhour = 2 THEN
H2 = (H2 + volume)
H2Count = (H2Count + 1)
ThisHour = (H2 / H2Count)
ELSIF openhour = 3 THEN
H3 = (H3 + volume)
H3Count = (H3Count + 1)
ThisHour = (H3 / H3Count)
ELSIF openhour = 4 THEN
H4 = (H4 + volume)
H4Count = (H4Count + 1)
ThisHour = (H4 / H4Count)
ELSIF openhour = 5 THEN
H5 = (H5 + volume)
H5Count = (H5Count + 1)
ThisHour = (H5 / H5Count)
ELSIF openhour = 6 THEN
H6 = (H6 + volume)
H6Count = (H6Count + 1)
ThisHour = (H6 / H6Count)
ELSIF openhour = 7 THEN
H7 = (H7 + volume)
H7Count = (H7Count + 1)
ThisHour = (H7 / H7Count)
ELSIF openhour = 8 THEN
H8 = (H8 + volume)
H8Count = (H8Count + 1)
ThisHour = (H8 / H8Count)
ELSIF openhour = 9 THEN
H9 = (H9 + volume)
H9Count = (H9Count + 1)
ThisHour = (H9 / H9Count)
ELSIF openhour = 10 THEN
H10 = (H10 + volume)
H10Count = (H10Count + 1)
ThisHour = (H10 / H10Count)
ELSIF openhour = 11 THEN
H11 = (H11 + volume)
H11Count = (H11Count + 1)
ThisHour = (H11 / H11Count)
ELSIF openhour = 12 THEN
H12 = (H12 + volume)
H12Count = (H12Count + 1)
ThisHour = (H12 / H12Count)
ELSIF openhour = 13 THEN
H13 = (H13 + volume)
H13Count = (H13Count + 1)
ThisHour = (H13 / H13Count)
ELSIF openhour = 14 THEN
H14 = (H14 + volume)
H14Count = (H14Count + 1)
ThisHour = (H14 / H14Count)
ELSIF openhour = 15 THEN
H15 = (H15 + volume)
H15Count = (H15Count + 1)
ThisHour = (H15 / H15Count)
ELSIF openhour = 16 THEN
H16 = (H16 + volume)
H16Count = (H16Count + 1)
ThisHour = (H16 / H16Count)
ELSIF openhour = 17 THEN
H17 = (H17 + volume)
H17Count = (H17Count + 1)
ThisHour = (H17 / H17Count)
ELSIF openhour = 18 THEN
H18 = (H18 + volume)
H18Count = (H18Count + 1)
ThisHour = (H18 / H18Count)
ELSIF openhour = 19 THEN
H19 = (H19 + volume)
H19Count = (H19Count + 1)
ThisHour = (H19 / H19Count)
ELSIF openhour = 20 THEN
H20 = (H20 + volume)
H20Count = (H20Count + 1)
ThisHour = (H20 / H20Count)
ELSIF openhour = 21 THEN
H21 = (H21 + volume)
H21Count = (H21Count + 1)
ThisHour = (H21 / H21Count)
ELSIF openhour = 22 THEN
H22 = (H22 + volume)
H22Count = (H22Count + 1)
ThisHour = (H22 / H22Count)
ELSIF openhour = 23 THEN
H23 = (H23 + volume)
H23Count = (H23Count + 1)
ThisHour = (H23 / H23Count)
ENDIF

avg = (h0 + h1 + h2 + h3 + h4 + h5 + h6 + h7 + h8 + h9 + h10 + h11 + h12 + h13 + h14 + h15 + h16 + h17 + h18 + h19 + h20 + h21 + h22 + h23)/(h0count + h1count + h2count + h3count + h4count + h5count + h6count + h7count + h8count + h9count + h10count + h11count + h12count + h13count + h14count + h15count + h16count + h17count + h18count + h19count + h20count + h21count + h22count + h23count)

c = 155
if ThisHour > Avg then
c = 255
endif

RETURN thishour coloured (100,149,237,c) style(histogram, 2) as "Average Volume", avg coloured(0,0,255) style(line,1) as "All Time Average"

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//Most Active Hours Volume

//By Vonasi (thanks to throwaway200 for the idea)

//20181211

//defparam calculateonlastbars = 1000

IF openhour = 0 THEN

H0 = (H0 + volume)

H0Count = (H0Count + 1)

ThisHour = (H0 / H0Count)

drawvline(barindex) coloured(0,0,255)

ELSIF openhour = 1 THEN

H1 = (H1 + volume)

H1Count = (H1Count + 1)

ThisHour = (H1 / H1Count)

ELSIF openhour = 2 THEN

H2 = (H2 + volume)

H2Count = (H2Count + 1)

ThisHour = (H2 / H2Count)

ELSIF openhour = 3 THEN

H3 = (H3 + volume)

H3Count = (H3Count + 1)

ThisHour = (H3 / H3Count)

ELSIF openhour = 4 THEN

H4 = (H4 + volume)

H4Count = (H4Count + 1)

ThisHour = (H4 / H4Count)

ELSIF openhour = 5 THEN

H5 = (H5 + volume)

H5Count = (H5Count + 1)

ThisHour = (H5 / H5Count)

ELSIF openhour = 6 THEN

H6 = (H6 + volume)

H6Count = (H6Count + 1)

ThisHour = (H6 / H6Count)

ELSIF openhour = 7 THEN

H7 = (H7 + volume)

H7Count = (H7Count + 1)

ThisHour = (H7 / H7Count)

ELSIF openhour = 8 THEN

H8 = (H8 + volume)

H8Count = (H8Count + 1)

ThisHour = (H8 / H8Count)

ELSIF openhour = 9 THEN

H9 = (H9 + volume)

H9Count = (H9Count + 1)

ThisHour = (H9 / H9Count)

ELSIF openhour = 10 THEN

H10 = (H10 + volume)

H10Count = (H10Count + 1)

ThisHour = (H10 / H10Count)

ELSIF openhour = 11 THEN

H11 = (H11 + volume)

H11Count = (H11Count + 1)

ThisHour = (H11 / H11Count)

ELSIF openhour = 12 THEN

H12 = (H12 + volume)

H12Count = (H12Count + 1)

ThisHour = (H12 / H12Count)

ELSIF openhour = 13 THEN

H13 = (H13 + volume)

H13Count = (H13Count + 1)

ThisHour = (H13 / H13Count)

ELSIF openhour = 14 THEN

H14 = (H14 + volume)

H14Count = (H14Count + 1)

ThisHour = (H14 / H14Count)

ELSIF openhour = 15 THEN

H15 = (H15 + volume)

H15Count = (H15Count + 1)

ThisHour = (H15 / H15Count)

ELSIF openhour = 16 THEN

H16 = (H16 + volume)

H16Count = (H16Count + 1)

ThisHour = (H16 / H16Count)

ELSIF openhour = 17 THEN

H17 = (H17 + volume)

H17Count = (H17Count + 1)

ThisHour = (H17 / H17Count)

ELSIF openhour = 18 THEN

H18 = (H18 + volume)

H18Count = (H18Count + 1)

ThisHour = (H18 / H18Count)

ELSIF openhour = 19 THEN

H19 = (H19 + volume)

H19Count = (H19Count + 1)

ThisHour = (H19 / H19Count)

ELSIF openhour = 20 THEN

H20 = (H20 + volume)

H20Count = (H20Count + 1)

ThisHour = (H20 / H20Count)

ELSIF openhour = 21 THEN

H21 = (H21 + volume)

H21Count = (H21Count + 1)

ThisHour = (H21 / H21Count)

ELSIF openhour = 22 THEN

H22 = (H22 + volume)

H22Count = (H22Count + 1)

ThisHour = (H22 / H22Count)

ELSIF openhour = 23 THEN

H23 = (H23 + volume)

H23Count = (H23Count + 1)

ThisHour = (H23 / H23Count)

ENDIF

c = 155

if ThisHour > Avg then

c = 255

endif

RETURN thishour coloured (100,149,237,c) style(histogram, 2) as "Average Volume", avg coloured(0,0,255) style(line,1) as "All Time Average"

Vonasi

Moderator

Topics: 192

Replies: 5088

Been thanked: 1810 times

12/14/2018 at 6:58 PM #87133

Vonasi

So here is my first attempt at something to make ATR more useful. I call it HODATR Bands which stands for Hour Of Day Average True Range.

It calculates the all time average range for every hour and the all time average volume for every hour. It then uses that HODATR to draw bands on each hourly candle. So it can be seen that during non high volume hours the bands are much closer and during high volume hours they are further apart. I have also added the options to expand the bands further out with a multiplier and also to be able to turn on or off colour highlighting for when the high volume best hours to trade are. The bands on each hour can be centred around any custom close from the previous hour so on closing price, median price etc.

At the moment it can only be used on hourly charts.

Any thoughts or ideas are welcome.

…and yes I know it should technically be called HODAR as the range calculation is not at all like an ATR calculation but I couldn’t be bothered to change it after I realised.

HODATR-Bands

//HODATR bands
//By Vonasi 
//20181214

// BackGroundColour = 1
//Multiple = 1

IF openhour = 0 THEN
H0 = (H0 + (High - Low))
H0Count = (H0Count + 1)
ThisHour = (H0 / H0Count)
V0 = (V0 + volume)
V0Count = (V0Count + 1)
ThisHourVol = (V0 / V0Count)
ELSIF openhour = 1 THEN
H1 = (H1 + (High - Low))
H1Count = (H1Count + 1)
ThisHour = (H1 / H1Count)
V1 = (V1 + volume)
V1Count = (V1Count + 1)
ThisHourVol = (V1 / V1Count)
ELSIF openhour = 2 THEN
H2 = (H2 + (High - Low))
H2Count = (H2Count + 1)
ThisHour = (H2 / H2Count)
V2 = (V2 + volume)
V2Count = (V2Count + 1)
ThisHourVol = (V2 / V2Count)
ELSIF openhour = 3 THEN
H3 = (H3 + (High - Low))
H3Count = (H3Count + 1)
ThisHour = (H3 / H3Count)
V3 = (V3 + volume)
V3Count = (V3Count + 1)
ThisHourVol = (V3 / V3Count)
ELSIF openhour = 4 THEN
H4 = (H4 + (High - Low))
H4Count = (H4Count + 1)
ThisHour = (H4 / H4Count)
V4 = (V4 + volume)
V4Count = (V4Count + 1)
ThisHourVol = (V4 / V4Count)
ELSIF openhour = 5 THEN
H5 = (H5 + (High - Low))
H5Count = (H5Count + 1)
ThisHour = (H5 / H5Count)
V5 = (V5 + volume)
V5Count = (V5Count + 1)
ThisHourVol = (V5 / V5Count)
ELSIF openhour = 6 THEN
H6 = (H6 + (High - Low))
H6Count = (H6Count + 1)
ThisHour = (H6 / H6Count)
V6 = (V6 + volume)
V6Count = (V6Count + 1)
ThisHourVol = (V6 / V6Count)
ELSIF openhour = 7 THEN
H7 = (H7 + (High - Low))
H7Count = (H7Count + 1)
ThisHour = (H7 / H7Count)
V7 = (V7 + volume)
V7Count = (V7Count + 1)
ThisHourVol = (V7 / V7Count)
ELSIF openhour = 8 THEN
H8 = (H8 + (High - Low))
H8Count = (H8Count + 1)
ThisHour = (H8 / H8Count)
V8 = (V8 + volume)
V8Count = (V8Count + 1)
ThisHourVol = (V8 / V8Count)
ELSIF openhour = 9 THEN
H9 = (H9 + (High - Low))
H9Count = (H9Count + 1)
ThisHour = (H9 / H9Count)
V9 = (V9 + volume)
V9Count = (V9Count + 1)
ThisHourVol = (V9 / V9Count)
ELSIF openhour = 10 THEN
H10 = (H10 + (High - Low))
H10Count = (H10Count + 1)
ThisHour = (H10 / H10Count)
V10 = (V10 + volume)
V10Count = (V10Count + 1)
ThisHourVol = (V10 / V10Count)
ELSIF openhour = 11 THEN
H11 = (H11 + (High - Low))
H11Count = (H11Count + 1)
ThisHour = (H11 / H11Count)
V11 = (V11 + volume)
V11Count = (V11Count + 1)
ThisHourVol = (V11 / V11Count)
ELSIF openhour = 12 THEN
H12 = (H12 + (High - Low))
H12Count = (H12Count + 1)
ThisHour = (H12 / H12Count)
V12 = (V12 + volume)
V12Count = (V12Count + 1)
ThisHourVol = (V12 / V12Count)
ELSIF openhour = 13 THEN
H13 = (H13 + (High - Low))
H13Count = (H13Count + 1)
ThisHour = (H13 / H13Count)
V13 = (V13 + volume)
V13Count = (V13Count + 1)
ThisHourVol = (V13 / V13Count)
ELSIF openhour = 14 THEN
H14 = (H14 + (High - Low))
H14Count = (H14Count + 1)
ThisHour = (H14 / H14Count)
V14 = (V14 + volume)
V14Count = (V14Count + 1)
ThisHourVol = (V14 / V14Count)
ELSIF openhour = 15 THEN
H15 = (H15 + (High - Low))
H15Count = (H15Count + 1)
ThisHour = (H15 / H15Count)
V15 = (V15 + volume)
V15Count = (V15Count + 1)
ThisHourVol = (V15 / V15Count)
ELSIF openhour = 16 THEN
H16 = (H16 + (High - Low))
H16Count = (H16Count + 1)
ThisHour = (H16 / H16Count)
V16 = (V16 + volume)
V16Count = (V16Count + 1)
ThisHourVol = (V16 / V16Count)
ELSIF openhour = 17 THEN
H17 = (H17 + (High - Low))
H17Count = (H17Count + 1)
ThisHour = (H17 / H17Count)
V17 = (V17 + volume)
V17Count = (V17Count + 1)
ThisHourVol = (V17 / V17Count)
ELSIF openhour = 18 THEN
H18 = (H18 + (High - Low))
H18Count = (H18Count + 1)
ThisHour = (H18 / H18Count)
V18 = (V18 + volume)
V18Count = (V18Count + 1)
ThisHourVol = (V18 / V18Count)
ELSIF openhour = 19 THEN
H19 = (H19 + (High - Low))
H19Count = (H19Count + 1)
ThisHour = (H19 / H19Count)
V19 = (V19 + volume)
V19Count = (V19Count + 1)
ThisHourVol = (V19 / V19Count)
ELSIF openhour = 20 THEN
H20 = (H20 + (High - Low))
H20Count = (H20Count + 1)
ThisHour = (H20 / H20Count)
V20 = (V20 + volume)
V20Count = (V20Count + 1)
ThisHourVol = (V20 / V20Count)
ELSIF openhour = 21 THEN
H21 = (H21 + (High - Low))
H21Count = (H21Count + 1)
ThisHour = (H21 / H21Count)
V21 = (V21 + volume)
V21Count = (V21Count + 1)
ThisHourVol = (V21 / V21Count)
ELSIF openhour = 22 THEN
H22 = (H22 + (High - Low))
H22Count = (H22Count + 1)
ThisHour = (H22 / H22Count)
V22 = (V22 + volume)
V22Count = (V22Count + 1)
ThisHourVol = (V22 / V22Count)
ELSIF openhour = 23 THEN
H23 = (H23 + (High - Low))
H23Count = (H23Count + 1)
ThisHour = (H23 / H23Count)
V23 = (V23 + volume)
V23Count = (V23Count + 1)
ThisHourVol = (V23 / V23Count)
ENDIF

VolAvg = (V0 + V1 + V2 + V3 + V4 + V5 + V6 + V7 + V8 + V9 + V10 + V11 + V12 + V13 + V14 + V15 + V16 + V17 + V18 + V19 + V20 + V21 + V22 + V23)/(V0count + V1count + V2count + V3count + V4count + V5count + V6count + V7count + V8count + V9count + V10count + V11count + V12count + V13count + V14count + V15count + V16count + V17count + V18count + V19count + V20count + V21count + V22count + V23count)

upper = customclose[1] + ((ThisHour/2) * multiple)
lower = customclose[1] - ((ThisHour/2) * multiple)

r = 128
g = 0
b = 0
c = 0

if ThisHourVol > VolAvg then
r = 0
g = 128
b = 0
c = 25
endif

if backgroundcolour then
backgroundcolor (r,g,b,c)
else 
if not backgroundcolour then
r = 100
g = 149
b = 237
endif
endif

RETURN upper coloured (r,g,b) style(line, 1) as "Upper HODATR Band", lower coloured (r,g,b) style(line, 1) as "Lower HODATR Band"

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//HODATR bands

//By Vonasi

//20181214

// BackGroundColour = 1

//Multiple = 1

IF openhour = 0 THEN

H0 = (H0 + (High - Low))

H0Count = (H0Count + 1)

ThisHour = (H0 / H0Count)

V0 = (V0 + volume)

V0Count = (V0Count + 1)

ThisHourVol = (V0 / V0Count)

ELSIF openhour = 1 THEN

H1 = (H1 + (High - Low))

H1Count = (H1Count + 1)

ThisHour = (H1 / H1Count)

V1 = (V1 + volume)

V1Count = (V1Count + 1)

ThisHourVol = (V1 / V1Count)

ELSIF openhour = 2 THEN

H2 = (H2 + (High - Low))

H2Count = (H2Count + 1)

ThisHour = (H2 / H2Count)

V2 = (V2 + volume)

V2Count = (V2Count + 1)

ThisHourVol = (V2 / V2Count)

ELSIF openhour = 3 THEN

H3 = (H3 + (High - Low))

H3Count = (H3Count + 1)

ThisHour = (H3 / H3Count)

V3 = (V3 + volume)

V3Count = (V3Count + 1)

ThisHourVol = (V3 / V3Count)

ELSIF openhour = 4 THEN

H4 = (H4 + (High - Low))

H4Count = (H4Count + 1)

ThisHour = (H4 / H4Count)

V4 = (V4 + volume)

V4Count = (V4Count + 1)

ThisHourVol = (V4 / V4Count)

ELSIF openhour = 5 THEN

H5 = (H5 + (High - Low))

H5Count = (H5Count + 1)

ThisHour = (H5 / H5Count)

V5 = (V5 + volume)

V5Count = (V5Count + 1)

ThisHourVol = (V5 / V5Count)

ELSIF openhour = 6 THEN

H6 = (H6 + (High - Low))

H6Count = (H6Count + 1)

ThisHour = (H6 / H6Count)

V6 = (V6 + volume)

V6Count = (V6Count + 1)

ThisHourVol = (V6 / V6Count)

ELSIF openhour = 7 THEN

H7 = (H7 + (High - Low))

H7Count = (H7Count + 1)

ThisHour = (H7 / H7Count)

V7 = (V7 + volume)

V7Count = (V7Count + 1)

ThisHourVol = (V7 / V7Count)

ELSIF openhour = 8 THEN

H8 = (H8 + (High - Low))

H8Count = (H8Count + 1)

ThisHour = (H8 / H8Count)

V8 = (V8 + volume)

V8Count = (V8Count + 1)

ThisHourVol = (V8 / V8Count)

ELSIF openhour = 9 THEN

H9 = (H9 + (High - Low))

H9Count = (H9Count + 1)

ThisHour = (H9 / H9Count)

V9 = (V9 + volume)

V9Count = (V9Count + 1)

ThisHourVol = (V9 / V9Count)

ELSIF openhour = 10 THEN

H10 = (H10 + (High - Low))

H10Count = (H10Count + 1)

ThisHour = (H10 / H10Count)

V10 = (V10 + volume)

V10Count = (V10Count + 1)

ThisHourVol = (V10 / V10Count)

ELSIF openhour = 11 THEN

H11 = (H11 + (High - Low))

H11Count = (H11Count + 1)

ThisHour = (H11 / H11Count)

V11 = (V11 + volume)

V11Count = (V11Count + 1)

ThisHourVol = (V11 / V11Count)

ELSIF openhour = 12 THEN

H12 = (H12 + (High - Low))

H12Count = (H12Count + 1)

ThisHour = (H12 / H12Count)

V12 = (V12 + volume)

V12Count = (V12Count + 1)

ThisHourVol = (V12 / V12Count)

ELSIF openhour = 13 THEN

H13 = (H13 + (High - Low))

H13Count = (H13Count + 1)

ThisHour = (H13 / H13Count)

V13 = (V13 + volume)

V13Count = (V13Count + 1)

ThisHourVol = (V13 / V13Count)

ELSIF openhour = 14 THEN

H14 = (H14 + (High - Low))

H14Count = (H14Count + 1)

ThisHour = (H14 / H14Count)

V14 = (V14 + volume)

V14Count = (V14Count + 1)

ThisHourVol = (V14 / V14Count)

ELSIF openhour = 15 THEN

H15 = (H15 + (High - Low))

H15Count = (H15Count + 1)

ThisHour = (H15 / H15Count)

V15 = (V15 + volume)

V15Count = (V15Count + 1)

ThisHourVol = (V15 / V15Count)

ELSIF openhour = 16 THEN

H16 = (H16 + (High - Low))

H16Count = (H16Count + 1)

ThisHour = (H16 / H16Count)

V16 = (V16 + volume)

V16Count = (V16Count + 1)

ThisHourVol = (V16 / V16Count)

ELSIF openhour = 17 THEN

H17 = (H17 + (High - Low))

H17Count = (H17Count + 1)

ThisHour = (H17 / H17Count)

V17 = (V17 + volume)

V17Count = (V17Count + 1)

ThisHourVol = (V17 / V17Count)

ELSIF openhour = 18 THEN

H18 = (H18 + (High - Low))

H18Count = (H18Count + 1)

ThisHour = (H18 / H18Count)

V18 = (V18 + volume)

V18Count = (V18Count + 1)

ThisHourVol = (V18 / V18Count)

ELSIF openhour = 19 THEN

H19 = (H19 + (High - Low))

H19Count = (H19Count + 1)

ThisHour = (H19 / H19Count)

V19 = (V19 + volume)

V19Count = (V19Count + 1)

ThisHourVol = (V19 / V19Count)

ELSIF openhour = 20 THEN

H20 = (H20 + (High - Low))

H20Count = (H20Count + 1)

ThisHour = (H20 / H20Count)

V20 = (V20 + volume)

V20Count = (V20Count + 1)

ThisHourVol = (V20 / V20Count)

ELSIF openhour = 21 THEN

H21 = (H21 + (High - Low))

H21Count = (H21Count + 1)

ThisHour = (H21 / H21Count)

V21 = (V21 + volume)

V21Count = (V21Count + 1)

ThisHourVol = (V21 / V21Count)

ELSIF openhour = 22 THEN

H22 = (H22 + (High - Low))

H22Count = (H22Count + 1)

ThisHour = (H22 / H22Count)

V22 = (V22 + volume)

V22Count = (V22Count + 1)

ThisHourVol = (V22 / V22Count)

ELSIF openhour = 23 THEN

H23 = (H23 + (High - Low))

H23Count = (H23Count + 1)

ThisHour = (H23 / H23Count)

V23 = (V23 + volume)

V23Count = (V23Count + 1)

ThisHourVol = (V23 / V23Count)

ENDIF

VolAvg = (V0 + V1 + V2 + V3 + V4 + V5 + V6 + V7 + V8 + V9 + V10 + V11 + V12 + V13 + V14 + V15 + V16 + V17 + V18 + V19 + V20 + V21 + V22 + V23)/(V0count + V1count + V2count + V3count + V4count + V5count + V6count + V7count + V8count + V9count + V10count + V11count + V12count + V13count + V14count + V15count + V16count + V17count + V18count + V19count + V20count + V21count + V22count + V23count)

upper = customclose[1] + ((ThisHour/2) * multiple)

lower = customclose[1] - ((ThisHour/2) * multiple)

r = 128

g = 0

b = 0

c = 0

if ThisHourVol > VolAvg then

r = 0

g = 128

b = 0

c = 25

endif

if backgroundcolour then

backgroundcolor (r,g,b,c)

else

if not backgroundcolour then

r = 100

g = 149

b = 237

endif

RETURN upper coloured (r,g,b) style(line, 1) as "Upper HODATR Band", lower coloured (r,g,b) style(line, 1) as "Lower HODATR Band"

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AlgoAlex

Vonasi

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