Pre-Close Hourly Signal
What it does
Waiting for a 1-hour candle to close often means missing the move. This indicator builds the current 1-hour candle in real time from 5-minute bars and checks, every 5 minutes, whether the hour is moving unusually strongly compared to normal volatility.
How it works
Z-score: Measures how far price has moved since the hour opened, relative to what is normal for that point in the hour. A Z of 2 means the move is about twice what you would typically expect.
Volume pace: Compares the volume traded so far this hour to the historical average at the same point in the hour.
Partial CLV: Checks whether price is holding near the top of the developing candle’s range.
A green triangle appears when all three conditions are met for consecutive bars. It fires at most once per hour.
How to use it
Works on the 5-minute chart only (it will show an error on other timeframes).
Green columns show the developing 1H Z-score. The orange line shows a rolling 60-minute Z-score with no hour-boundary reset.
A green triangle and highlighted background mark a potential early move.
The statistics table (top right) tracks past signals by bar position within the hour: actual green-close rate vs. theoretical rate, average return to the hour close, and average return of the following hour. Use it to judge whether signals have had any edge on your chosen market. Small sample sizes (low N) are not reliable.
Data Window shows k, volume pace, partial CLV, and theoretical green-close probability.
Settings
Z threshold, min/max bar position in the hour, volume pace threshold, CLV threshold, confirmation bars, and the volatility lookback are all adjustable. Defaults are a starting point, so tune them per asset.
Notes
Designed with 24/7 markets like crypto in mind.
Signals are generated on bar close, so they do not flicker intra-bar.
This is an analysis tool, not a guarantee. Always use proper risk management.
Disclaimer: For educational purposes only. Not financial advice.
Waiting for a 1-hour candle to close often means missing the move. This indicator builds the current 1-hour candle in real time from 5-minute bars and checks, every 5 minutes, whether the hour is moving unusually strongly compared to normal volatility.
How it works
Z-score: Measures how far price has moved since the hour opened, relative to what is normal for that point in the hour. A Z of 2 means the move is about twice what you would typically expect.
Volume pace: Compares the volume traded so far this hour to the historical average at the same point in the hour.
Partial CLV: Checks whether price is holding near the top of the developing candle’s range.
A green triangle appears when all three conditions are met for consecutive bars. It fires at most once per hour.
How to use it
Works on the 5-minute chart only (it will show an error on other timeframes).
Green columns show the developing 1H Z-score. The orange line shows a rolling 60-minute Z-score with no hour-boundary reset.
A green triangle and highlighted background mark a potential early move.
The statistics table (top right) tracks past signals by bar position within the hour: actual green-close rate vs. theoretical rate, average return to the hour close, and average return of the following hour. Use it to judge whether signals have had any edge on your chosen market. Small sample sizes (low N) are not reliable.
Data Window shows k, volume pace, partial CLV, and theoretical green-close probability.
Settings
Z threshold, min/max bar position in the hour, volume pace threshold, CLV threshold, confirmation bars, and the volatility lookback are all adjustable. Defaults are a starting point, so tune them per asset.
Notes
Designed with 24/7 markets like crypto in mind.
Signals are generated on bar close, so they do not flicker intra-bar.
This is an analysis tool, not a guarantee. Always use proper risk management.
Disclaimer: For educational purposes only. Not financial advice.
For help and support, feel free to contact:
wa.me/905469061306
wa.me/905469061306
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For help and support, feel free to contact:
wa.me/905469061306
wa.me/905469061306
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.