OPEN-SOURCE SCRIPT
Session Range & Volatility Monitor
Session Range & Volatility Monitor is an intraday chart overlay that tracks the Asia, London, and New York sessions and compares each session's developing range with what was historically typical at the same stage of that session. It is designed to answer not only "How wide is this session?" but also "Is its range developing faster or slower than usual right now?"
WHAT IT SHOWS
The indicator displays:
• Configurable Asia, London, and New York session boxes
• Each session's developing high-to-low range
• Range Pace states: Quiet, On Pace, Active, Extended, or Learning
• Current Range and Typical Range Now in a compact dashboard
• Session progress and the completed-session median range
• Optional Initial Balance boxes
• Optional session midpoint references
• Up to 20 recent session days on the chart, with 3 shown by default
The colored session boxes provide time and range context. The Range Pace percentage and state provide the main comparison with recent completed sessions.
WHAT RANGE PACE MEANS
Range Pace compares:
current session range ÷ historically typical range at the same elapsed session stage
For example, a reading of 106% means the current session range is 6% larger than the historical median range expected at this point in the session.
It does not mean there is a 106% probability of any outcome. It is not a forecast of the final session range and does not predict future price direction.
The default Range Pace states are:
• Quiet: below 75% of the typical range at this stage
• On Pace: from 75% to below 115%
• Active: from 115% to below 150%
• Extended: 150% or more
• Learning: insufficient completed-session history or the session has only just started
All thresholds are configurable.
HOW IT WORKS
For each enabled session, the script tracks the running high, low, range, elapsed progress, and Initial Balance.
When a session completes, its range is stored at four checkpoints:
• 25% of the session
• 50% of the session
• 75% of the session
• Full session
The script calculates historical medians for those checkpoints and interpolates between them. This produces a same-stage reference range for the currently active session instead of comparing an early-session range with a full-session average.
The default calculation retains 20 completed sessions and requires at least 5 before Range Pace leaves the Learning state.
Session windows use IANA timezones such as Asia/Tokyo, Europe/London, and America/New_York, allowing TradingView to account for daylight-saving changes. The script also detects long gaps in chart data so regular-hours feeds can start a fresh session correctly even when no overnight bars are available.
HOW TO USE IT
Use the indicator as a session-volatility context tool alongside your own market analysis:
• Quiet means the session range is developing more slowly than its recent same-stage norm.
• On Pace means the range is close to its recent same-stage norm.
• Active means the range is developing faster than usual.
• Extended means the range is substantially larger than usual for this point in the session.
• Learning means more completed sessions or more elapsed session time is required.
WHAT IT SHOWS
The indicator displays:
• Configurable Asia, London, and New York session boxes
• Each session's developing high-to-low range
• Range Pace states: Quiet, On Pace, Active, Extended, or Learning
• Current Range and Typical Range Now in a compact dashboard
• Session progress and the completed-session median range
• Optional Initial Balance boxes
• Optional session midpoint references
• Up to 20 recent session days on the chart, with 3 shown by default
The colored session boxes provide time and range context. The Range Pace percentage and state provide the main comparison with recent completed sessions.
WHAT RANGE PACE MEANS
Range Pace compares:
current session range ÷ historically typical range at the same elapsed session stage
For example, a reading of 106% means the current session range is 6% larger than the historical median range expected at this point in the session.
It does not mean there is a 106% probability of any outcome. It is not a forecast of the final session range and does not predict future price direction.
The default Range Pace states are:
• Quiet: below 75% of the typical range at this stage
• On Pace: from 75% to below 115%
• Active: from 115% to below 150%
• Extended: 150% or more
• Learning: insufficient completed-session history or the session has only just started
All thresholds are configurable.
HOW IT WORKS
For each enabled session, the script tracks the running high, low, range, elapsed progress, and Initial Balance.
When a session completes, its range is stored at four checkpoints:
• 25% of the session
• 50% of the session
• 75% of the session
• Full session
The script calculates historical medians for those checkpoints and interpolates between them. This produces a same-stage reference range for the currently active session instead of comparing an early-session range with a full-session average.
The default calculation retains 20 completed sessions and requires at least 5 before Range Pace leaves the Learning state.
Session windows use IANA timezones such as Asia/Tokyo, Europe/London, and America/New_York, allowing TradingView to account for daylight-saving changes. The script also detects long gaps in chart data so regular-hours feeds can start a fresh session correctly even when no overnight bars are available.
HOW TO USE IT
Use the indicator as a session-volatility context tool alongside your own market analysis:
• Quiet means the session range is developing more slowly than its recent same-stage norm.
• On Pace means the range is close to its recent same-stage norm.
• Active means the range is developing faster than usual.
• Extended means the range is substantially larger than usual for this point in the session.
• Learning means more completed sessions or more elapsed session time is required.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.