john_everist

Volume by Session

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This indicator shows volume separated by session. The aim is clarify which session a volume bar occurred in and how it compares to the average of that session - NOT ALL SESSIONS.

The logic is that there is little value comparing for example the volume of the London session against volume of the London-NY session - the London-NY will always have higher volume . But how does today's london compare to yesterdays london or the london average.

The indicator has moving averages that only consider the average of previous episodes of the same session - so the average on the london session is the average of the past 5 london sessions (NY and asia and London-NY are not included in the calculation of the MA).

The indicator goes as high as 1H timeframe and the average line does not function below 5 mins - thats a limitation on available data to calculate it.

There's also a 'dark screen' function. Thats because I like a black background so the colours need to be inverted.

Hope its useful. Good luck.

John

Notes de version: I had to reduce the look back period by 50 bars because the script just stopped running
Notes de version: - added the option to not show price higher/lower candle closes.
- added the option to show a simple moving average for all bars
- added the option to show/hide the session average or simple average

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Commentaires

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+14 Répondre
is this free
+5 Répondre
@thebaci, hello thebaci - yes its free.

It does not affect my performance if my fellow retail traders do good or bad so I just share if i think others will use it. Its also a good way to back the script up in case i delete it by accident.
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Hi can i use in india market & I'm unable to find your script can u pls send link..
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thx
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quite interesting
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DUDE
thanks for this!!! God Bless Brother
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Knightrader92 SKYLOBSTER
@SKYLOBSTER, Is it working on 5 mins ?
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john_everist Knightrader92
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john_everist Knightrader92
@Knightrader92, no sorry knightrader - i dont use 5 mins so i never coded that
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