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
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I had to reduce the look back period by 50 bars because the script just stopped running
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- 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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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.
sepehrtrd
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bug report , tnx , valuable script , when is adjust session1 open time 22 close time 7 . moving become zero , but its ok when 22 to 23:30 , so please check this bug , and let us to change minutes more ( 1~59) , also average of each session by adjustable sma , regards
jhonconnor101
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Hi John, thank you for this tool in advance! i have a problem when i uset it; its gave me this error: Study Error Pine cannot determine the referencing length of a series. Try using max_bars_back in he study or strategy function. Can you fix it? If not, please can you guide me what to do? Thank you so much!
giancapino
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Hi!
Thanks for this script.
Apart from being very useful by itself, i stumbled on it while searching for a script to adopt as a base (I always try to start programming from someone elses' code) for a 'vol-by-day-hours', 'vol-by-day-of-week', 'vol-by-week-of-month' ,'vol-by-month-of-year', and this gives me good hints.
Dmitryyi
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Hey - this looks awesome I really want to try it but it doesn't seem to be working with crypto / binance coins?
FXBombSquadron
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For some reason, your indicator isn't working. It's been this way for weeks now it seems.
rahulbkonde
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Hi can i use in india market & I'm unable to find your script can u pls send link..