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NQ Hourly Standard Deviation Zones
NQ Hourly Standard Deviation ZonesDescriptionThe NQ Hourly Standard Deviation Zones indicator is designed for traders analyzing the NASDAQ 100 futures (NQ) on an hourly timeframe. It plots dynamic support and resistance zones based on historical standard deviation (SD) levels calculated from the hourly open price. These zones represent the expected price range for each hour of the trading day, offering insights into potential price targets, reversals, or breakout levels. The indicator is highly customizable, allowing users to adjust the data period, display settings, and visual preferences to suit their trading style.The indicator calculates and displays:
• 0.5 SD Zones: Representing the price levels one-half standard deviation above and below the hourly open.
• 1.0 SD Zones: Representing the price levels one standard deviation above and below the hourly open.
• Hourly Open Line: A reference line marking the hourly open price.
These zones are derived from pre-calculated standard deviation data for the high and low price movements relative to the hourly open, segmented by each hour of the day (0–23). Users can select from multiple historical data periods (3 months to 17+ years) to align the zones with their preferred lookback period, accommodating both short-term and long-term trading strategies.Key Features
• Customizable Data Periods: Choose from 3 months, 6 months, 9 months, 1 year, 2 years, 3 years, 4 years, 5 years, 10 years, 15 years, or 17+ years of historical data to calculate standard deviation zones.
• RTH Filter: Option to display zones only during Regular Trading Hours (RTH, 9:00–15:59, America/New_York timezone) for traders focusing on the main trading session.
• Visual Customization:
• Toggle visibility of 0.5 SD and 1.0 SD labels.
• Customize line styles (Solid, Dotted, Dashed) and colors for 0.5 SD and 1.0 SD lines.
• Enable or disable shaded fills between the 0.5 SD and 1.0 SD zones, with customizable fill color.
• Timezone Support: Aligns with user-specified timezone (default: America/New_York) for accurate hourly calculations.
• Dynamic Updates: Zones are redrawn at the start of each new hourly bar, ensuring real-time relevance.
How It WorksThe indicator uses pre-computed standard deviation values for price movements (high and low) from the hourly open, based on the selected data period. For each hour of the day:
• High Zones: The +0.5 SD and +1.0 SD levels are plotted above the hourly open price.
• Low Zones: The -0.5 SD and -1.0 SD levels are plotted below the hourly open price.
• Hourly Open: A dotted line marks the open price for reference.
• Fills: Optional shaded areas between the 0.5 SD and 1.0 SD zones highlight the expected price range.
• Labels: Optional labels display "+0.5 σ," "-0.5 σ," "+1.0 σ," "-1.0 σ," and "h.o" (hourly open) at the end of each hourly bar for clarity.
The zones are plotted as horizontal lines spanning the duration of the hour, with fills and labels updated dynamically as new hourly bars form. The indicator clears previous lines and labels at the start of each new hour to maintain a clean chart.Usage
• Intraday Trading: Use the 0.5 SD and 1.0 SD zones as dynamic support and resistance levels for identifying potential entry/exit points, reversals, or breakout opportunities.
• Range Trading: The zones help visualize the expected price range for each hour, aiding in range-bound strategies.
• Risk Management: The 1.0 SD zones represent statistically significant levels, useful for setting stop-loss or take-profit levels.
• Session Filtering: Enable the "Show RTH Only" option to focus on high-liquidity hours, ideal for day traders.
• Historical Analysis: Select different data periods to analyze how price behavior varies over short-term (e.g., 3 months) versus long-term (e.g., 17+ years) market conditions.
Settings
• Settings:
• Show RTH Only (9:00–15:59): Toggle to display zones only during Regular Trading Hours (default: true).
• Timezone: Select the timezone for accurate hourly alignment (default: America/New_York).
• Select Data Period: Choose the historical data period for standard deviation calculations (options: 3 Months, 6 Months, 9 Months, 1 Year, 2 Years, 3 Years, 4 Years, 5 Years, 10 Years, 15 Years, 17+ Years; default: 17+ Years).
• Visuals:
• Show Fill: Toggle shaded areas between 0.5 SD and 1.0 SD zones (default: true).
• Fill Color: Customize the color and transparency of the fill (default: light gray, 90% transparency).
• 0.5 SD Line: Set the color (default: gray, 50% transparency) and style (Solid, Dotted, Dashed; default: Dashed) for 0.5 SD lines.
• 1.0 SD Line: Set the color (default: gray, 0% transparency) and style (Solid, Dotted, Dashed; default: Solid) for 1.0 SD lines.
• Show 0.5 SD Labels: Toggle visibility of 0.5 SD labels (default: true) and set their text color (default: gray).
• Show 1.0 SD Labels: Toggle visibility of 1.0 SD labels (default: true) and set their text color (default: gray).
Notes
• The indicator is optimized for the NASDAQ 100 futures (NQ) on an hourly timeframe. Ensure the chart is set to a compatible timeframe (e.g., 1-hour) for accurate results.
• Standard deviation values are pre-calculated and stored for each hour of the day, based on historical data. They are not dynamically recalculated from live data, ensuring consistent performance.
• The indicator uses up to 500 lines and labels to comply with TradingView’s rendering limits, ensuring smooth operation even on extended charts.
• For best results, use on liquid instruments like NQ futures, and consider combining with other technical indicators for confirmation.
Example Use CaseA trader focusing on NQ day trading can enable "Show RTH Only" and select a 3-month data period to plot zones for the 9:00–15:59 session. During the 10:00 AM hour, if the price approaches the +1.0 SD zone, the trader might anticipate resistance and consider a short position, using the -1.0 SD zone as a potential target. Conversely, a break above the +1.0 SD zone could signal a breakout, prompting a long position.Limitations
• The indicator relies on pre-computed standard deviation values, which may not reflect real-time market volatility.
• It is designed specifically for hourly charts and may not function correctly on other timeframes.
• The RTH filter assumes a standard trading session (9:00–15:59); custom session times are not supported.
AuthorThis indicator is designed for traders seeking a statistical approach to intraday price analysis, leveraging historical volatility patterns to inform trading decisions.
• 0.5 SD Zones: Representing the price levels one-half standard deviation above and below the hourly open.
• 1.0 SD Zones: Representing the price levels one standard deviation above and below the hourly open.
• Hourly Open Line: A reference line marking the hourly open price.
These zones are derived from pre-calculated standard deviation data for the high and low price movements relative to the hourly open, segmented by each hour of the day (0–23). Users can select from multiple historical data periods (3 months to 17+ years) to align the zones with their preferred lookback period, accommodating both short-term and long-term trading strategies.Key Features
• Customizable Data Periods: Choose from 3 months, 6 months, 9 months, 1 year, 2 years, 3 years, 4 years, 5 years, 10 years, 15 years, or 17+ years of historical data to calculate standard deviation zones.
• RTH Filter: Option to display zones only during Regular Trading Hours (RTH, 9:00–15:59, America/New_York timezone) for traders focusing on the main trading session.
• Visual Customization:
• Toggle visibility of 0.5 SD and 1.0 SD labels.
• Customize line styles (Solid, Dotted, Dashed) and colors for 0.5 SD and 1.0 SD lines.
• Enable or disable shaded fills between the 0.5 SD and 1.0 SD zones, with customizable fill color.
• Timezone Support: Aligns with user-specified timezone (default: America/New_York) for accurate hourly calculations.
• Dynamic Updates: Zones are redrawn at the start of each new hourly bar, ensuring real-time relevance.
How It WorksThe indicator uses pre-computed standard deviation values for price movements (high and low) from the hourly open, based on the selected data period. For each hour of the day:
• High Zones: The +0.5 SD and +1.0 SD levels are plotted above the hourly open price.
• Low Zones: The -0.5 SD and -1.0 SD levels are plotted below the hourly open price.
• Hourly Open: A dotted line marks the open price for reference.
• Fills: Optional shaded areas between the 0.5 SD and 1.0 SD zones highlight the expected price range.
• Labels: Optional labels display "+0.5 σ," "-0.5 σ," "+1.0 σ," "-1.0 σ," and "h.o" (hourly open) at the end of each hourly bar for clarity.
The zones are plotted as horizontal lines spanning the duration of the hour, with fills and labels updated dynamically as new hourly bars form. The indicator clears previous lines and labels at the start of each new hour to maintain a clean chart.Usage
• Intraday Trading: Use the 0.5 SD and 1.0 SD zones as dynamic support and resistance levels for identifying potential entry/exit points, reversals, or breakout opportunities.
• Range Trading: The zones help visualize the expected price range for each hour, aiding in range-bound strategies.
• Risk Management: The 1.0 SD zones represent statistically significant levels, useful for setting stop-loss or take-profit levels.
• Session Filtering: Enable the "Show RTH Only" option to focus on high-liquidity hours, ideal for day traders.
• Historical Analysis: Select different data periods to analyze how price behavior varies over short-term (e.g., 3 months) versus long-term (e.g., 17+ years) market conditions.
Settings
• Settings:
• Show RTH Only (9:00–15:59): Toggle to display zones only during Regular Trading Hours (default: true).
• Timezone: Select the timezone for accurate hourly alignment (default: America/New_York).
• Select Data Period: Choose the historical data period for standard deviation calculations (options: 3 Months, 6 Months, 9 Months, 1 Year, 2 Years, 3 Years, 4 Years, 5 Years, 10 Years, 15 Years, 17+ Years; default: 17+ Years).
• Visuals:
• Show Fill: Toggle shaded areas between 0.5 SD and 1.0 SD zones (default: true).
• Fill Color: Customize the color and transparency of the fill (default: light gray, 90% transparency).
• 0.5 SD Line: Set the color (default: gray, 50% transparency) and style (Solid, Dotted, Dashed; default: Dashed) for 0.5 SD lines.
• 1.0 SD Line: Set the color (default: gray, 0% transparency) and style (Solid, Dotted, Dashed; default: Solid) for 1.0 SD lines.
• Show 0.5 SD Labels: Toggle visibility of 0.5 SD labels (default: true) and set their text color (default: gray).
• Show 1.0 SD Labels: Toggle visibility of 1.0 SD labels (default: true) and set their text color (default: gray).
Notes
• The indicator is optimized for the NASDAQ 100 futures (NQ) on an hourly timeframe. Ensure the chart is set to a compatible timeframe (e.g., 1-hour) for accurate results.
• Standard deviation values are pre-calculated and stored for each hour of the day, based on historical data. They are not dynamically recalculated from live data, ensuring consistent performance.
• The indicator uses up to 500 lines and labels to comply with TradingView’s rendering limits, ensuring smooth operation even on extended charts.
• For best results, use on liquid instruments like NQ futures, and consider combining with other technical indicators for confirmation.
Example Use CaseA trader focusing on NQ day trading can enable "Show RTH Only" and select a 3-month data period to plot zones for the 9:00–15:59 session. During the 10:00 AM hour, if the price approaches the +1.0 SD zone, the trader might anticipate resistance and consider a short position, using the -1.0 SD zone as a potential target. Conversely, a break above the +1.0 SD zone could signal a breakout, prompting a long position.Limitations
• The indicator relies on pre-computed standard deviation values, which may not reflect real-time market volatility.
• It is designed specifically for hourly charts and may not function correctly on other timeframes.
• The RTH filter assumes a standard trading session (9:00–15:59); custom session times are not supported.
AuthorThis indicator is designed for traders seeking a statistical approach to intraday price analysis, leveraging historical volatility patterns to inform trading decisions.
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Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.