Session High/Low Average & Range [1CG]

4 déc.

The Session High/Low Average & Range indicator independently measures the average price movement from the opening price in each direction. It also displays the maximum high and low distance, called Range. Separating the averages and range into highs and lows helps analyze the volatility of the market as well as the direction.

USE EXAMPLES

Session Open


Session Close


Customization


Minimal - 1x and 2x Averages are replaced with custom lines, in order to show distance to3x.


Calculations

• Average High: (high price of session - session opening price) / (session period)
  
• Average Low: (session opening price - low price of session) / (session period)
  
• Range High: The highest price of the last (session period)
  
• Range Low: The lowest price of the last (session period)
  

INPUTS

Session

Here you can choose the hours for your session and time zone. The default is London session in New York time. Next, the session period determines how many sessions to sample from for the average and range lines, the default is 20. Lastly, you can choose the number of sessions to appear on the chart not including the current session if you are in one, 5 by default.

Lines

All of the lines allow you to change the color, width, and style. They also have a label option to choose to display the price. The bottom of the section allows you to change the location and size of the label text.

**Open Line** -Displays the opening price for the length of the session.

**Average Lines** - Displays the 1x, 2x, and 3x the average distance from open in each direction. Additionally, you can toggle a background color to highlight the area.

**Custom Lines** - Displays a customizable multiple of either the average or range. By default the first custom line displays the Range at a 1x multiplier and the second line displays an Average at a 1.5x multiplier

Display Distance

Here you can choose to display the distance from the lines to the open. This data is marked with a “Δ”. For the three Average lines this will display in the area between the line and the open in the position and size of your choice. The custom lines will have the distance information displayed on the line itself. This helps keep the data organized.

4 déc.

Notes de version

Added an error message for when there aren't enough sessions to sample from on the lower timeframes. Setting the session period to 14 seems to be ideal for the 1 minute timeframe.