session statistics

This video explains a better method of computing volatility which has several advantages over the more tradition methods such as average true range. This method computes the expected volatility at each bar based on the average range of bars at the same time of day over the previous 20 days. Instead of relying on the previous 20 bars to predict what will happen on the next bar, it uses the same time period over the past 20 days to do so, avoiding the major pitfall of possibly using low range overnight bars to compute volatility of the first bar of the day session or vice versa.

This webinar covers the following topics:

This video details how to use a combination of the MPD and Session Statistics Indicators to plot the overnight high and low historically on a day session chart. It also documents a more complex requirement of plotting the high and low of a subset of the overnight period (1am to 8:30am ET) on a day session chart.

This video demonstrates a new Stepped Blocks drawing style for the Price Bands Indicator which allows user to draw retracements and multiples between any two prices historically. This is a very powerful feature especially when combined with the flexibilty of the Session Statistics Indicator to compute key prices of various durations.

This video demonstrates various uses for the Session Statistics Indicator, including average volume or range of each bar or time period, and plotting the highest high / lowest low of first x bars/minutes.

This video demonstrates some new functionality added to Session Statistics in 9.2.13 and beyond including the ability to compare the volume of each bar or time period with average volumes over the same time periods on same day of week during previous weeks. It also discusses projecting the current bars volume when computing relative strengths of volume.