Intraday vs Overnight Change Tracker

13 Nis

This indicator tracks a synthetic price path based on either intraday or overnight return behavior, allowing users to analyze which component of daily price movement is contributing more to long-term performance.

***THIS INDICATOR ONLY WORKS ON THE DAILY TIMEFRAME***

Intraday mode compounds price change from market open to close: close / open

Overnight mode compounds price change from previous close to current open: open / close[1]

The user can select one of these two modes using a dropdown input. The synthetic price series starts from the second bar of the chart and compounds forward bar-by-bar using the selected return type. The result is a line that reflects cumulative return based solely on either intraday or overnight activity.

⚙️ Inputs
Synthetic Price Type: Select between "Intraday" or "Overnight" to visualize the respective compounded price series.

📈 Usage Notes
This indicator is intended for visual comparison of intraday vs. overnight price dynamics over time. It can be useful for identifying behavioral patterns, session-based return anomalies, or testing session bias strategies.

Only one synthetic line is shown at a time based on user selection.

If you want to view both intraday and overnight lines, then you can add the indicator twice, which is shown above.

13 Nis

Sürüm Notları

Added third drop-down option to show both Intraday and Overnight charts on the same plot.

I made this as the default option when loading the indicator.