Daylight Saving Time [Open Source]Are you tired of manually tracking daylight saving time transitions on your trading charts? Say goodbye to confusion and hello to a smarter approach with our innovative indicator.
Designed to streamline your trading experience, this indicator automatically detects and highlights the exact moments when daylight saving time shifts occur, ensuring you stay on top of time changes without the hassle.
Key Features:
Customizable Display: Choose between two distinct display modes - "Flag" or "Emoticons" - to suit your visual preference and enhance your chart's clarity.
Global Compatibility: Tailor the indicator to your region by selecting your country for daylight saving time calculations. Choose from popular options like the European Union (EU) or the United States and Canada (US_CA).
Seamless Transitions: No more guessing when daylight saving time starts or ends. Our indicator will automatically mark the transition points, helping you to avoid costly trading mistakes due to incorrect time calculations.
Background Coloring: Elevate your chart's visibility by optionally coloring the background during the transition periods. With a simple toggle, you can make sure you never miss an important shift.
Experience a new level of trading precision and accuracy with the "Daylight Saving Time Indicator". Take control of your trading strategy by focusing on the market instead of time changes. Try it now and witness the difference it makes in your trading routine!
About Daylight Saving Time:
Daylight Saving Time (DST) is a practice observed by many countries to make better use of daylight during the longer days of summer. The EU and California (US_CA) have specific rules for DST transitions:
EU DST Rules:
DST begins on the last Sunday of March.
DST ends on the last Sunday of October.
US_CA DST Rules:
DST begins on the second Sunday of March.
DST ends on the first Sunday of November.
About the code
The code is briefly commented. Please feel free to use or further customize it ... And, of course, I would be happy to be named and/or linked. If you're satisfied, maybe buy me a coffee ;-)
I'm curious to see how this indicator will develop with more ideas - Please keep me updated by commenting below or by sending me a message.
Daylightsavings
Fusion: Forex sessions with daylight savingsThis has multiple ways to see Forex sessions as I found both on the main chart and on a separate chart useful at different times so this gives you the benefit of both.
When you want to use this separate from your main chart uncheck it the option "On main chart".
On the main chart we can show:
The legend
Boxes
Labels
Breakout check area
Start & end labels
On any other chart area we can show:
The legend
Horizontal bars representing the sessions.
All objects are color coded and the legend shows the color codes.
Credit:
Blended my own sessions indicator and "FX Market Sessions" by boidoki
The code is structured to easily drop into a bigger system so use it as a lone indicator or add the code to some bigger project you are creating.
Finally, if you find value please do make a comment, give thumbs up etc.
Enjoy and good luck!
RVOL Relative Volume - IntradayHello All,
Relative Volume is one of the most important indicators and Traders should check it while trading/analyzing. it is used to identify whether the volume flows are increasing or decreasing. Relative volume measures current volume in relation to the “usual” volume for this time of the day. What is considered “usual"? For that, we have to use a historical baseline known as the average daily volume. That means how much volume a security does on a daily basis over a defined period. (This scripts runs on the time frames greater or equal 1 minute and less than 1 day)
The common definition for real-time relative volume is: Current volume for this time of day / Average volume for this time of day. It does not mean taking the volume (for example) from 10:30 am to 10:45 am and comparing it to what it does from 10:30 am to 10:45 am every day. What it truly means is to compare cumulative volumes. Therefore, this is the precise definition of real-time relative volume:
Current cumulative volume up to this time of day / Average cumulative volume up to this time of day
What should we understand while checking RVOL;
- Relative volume tell us if volume flows are increasing or decreasing
- A high relative volume tells us that there is increased trading activity in a security today
- Increased volume flows often accompany higher volatility i.e. a significant price move
Let see an example:
P.S. if you want to get more info about RVOL/Relative Volume then you can search it on the net. While developing the script this was used as reference, you can also check it for more info.
Enjoy!
