M-Alpha-Session Edge - Hourly Activity and Real Hour Bias
What it does
M-Alpha-Session Edge shows when this market really moves and whether any hour of the day truly leans up or down. The coming 12 hours (up to 24) are listed to the right of price, the next hour on top: the longer and brighter a bar, the more that hour usually moves. A direction is printed only when it is stronger than chance; everything else says "no lean".
How it works
1. For every hour of the day (time zone selectable) the script collects all closed hours of the chart history.
2. Activity: the average range of that hour (high minus low, in percent of its open).
3. Lean: the share of hours that closed above their open. It only counts as a lean when it is at least three standard errors away from 50 % and at least 100 hours were seen. The bar is high on purpose: with 24 hours tested at once, one of them would look special by luck alone at two standard errors.
4. The coming hours are listed to the right of price, one row per hour with time, average range and lean. Past hours can be tinted by activity.
Closed hours only, nothing repaints. Works on 1 hour and lower timeframes.
How to use it
- Plan entries for the active hours, or avoid them if you prefer quiet markets.
- Treat "no lean" literally: on most markets most hours are coin flips, and the script says so instead of painting colors.
What makes it different
- Session tools usually color every hour. This one separates real activity, which is very stable, from direction, which is rarely more than chance.
Limitations
- Statistics come from the loaded history; a short history gives few hours per slot.
- Daylight saving time shifts in some time zones can move an hour slot.
M-Alpha-Session Edge shows when this market really moves and whether any hour of the day truly leans up or down. The coming 12 hours (up to 24) are listed to the right of price, the next hour on top: the longer and brighter a bar, the more that hour usually moves. A direction is printed only when it is stronger than chance; everything else says "no lean".
How it works
1. For every hour of the day (time zone selectable) the script collects all closed hours of the chart history.
2. Activity: the average range of that hour (high minus low, in percent of its open).
3. Lean: the share of hours that closed above their open. It only counts as a lean when it is at least three standard errors away from 50 % and at least 100 hours were seen. The bar is high on purpose: with 24 hours tested at once, one of them would look special by luck alone at two standard errors.
4. The coming hours are listed to the right of price, one row per hour with time, average range and lean. Past hours can be tinted by activity.
Closed hours only, nothing repaints. Works on 1 hour and lower timeframes.
How to use it
- Plan entries for the active hours, or avoid them if you prefer quiet markets.
- Treat "no lean" literally: on most markets most hours are coin flips, and the script says so instead of painting colors.
What makes it different
- Session tools usually color every hour. This one separates real activity, which is very stable, from direction, which is rarely more than chance.
Limitations
- Statistics come from the loaded history; a short history gives few hours per slot.
- Daylight saving time shifts in some time zones can move an hour slot.
Tested on unseen data, honest weekly results, no promises. malphacore.com · Shop: t.me/MAlphaCoreShopBot?start=tv
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Tested on unseen data, honest weekly results, no promises. malphacore.com · Shop: t.me/MAlphaCoreShopBot?start=tv
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.