Indicator Showing Price Ranges by Day of the Week and Time of Day (Titan_VolatilityClock)
Indicator Overview
A volatility heat map that shows at a glance how actively the market moves on each day and hour
This indicator aggregates past H1 bars by day of the week and hour of the day, and displays in a table "on which day and at what hour, and by how much, the price has moved". The rows of the table are days of the week (Mon to Fri) and the columns are hours (0 to 23). Each cell shows the average range of that hour (the difference between the high and the low of the H1 bar). The larger the range, the brighter the blue; the smaller the range, the darker the color, so you can tell active hours from quiet hours at a glance.
This makes it a useful guide when deciding which hours to trade, when checking how much the market moves as the Tokyo, London and New York sessions open, or when deciding how wide to set your stop loss and take profit.
In addition, below the table the indicator shows in real time "how much the current H1 bar has moved compared with the usual range for the same day and hour". You can judge on the spot whether the market is more active than usual or unusually quiet.
*The range is a statistic based on past price movements and does not indicate future price movements.
[Example of the last 12 weeks of USDJPY displayed]
How to Use
①Open a chart for the heat map and apply this indicator. By default the heat map uses the entire chart area, so we recommend preparing a dedicated chart. By default the symbol of the chart the indicator is applied to is analyzed (you can specify another symbol with the "Symbol (blank = chart symbol)" parameter).
②Each cell of the table shows the average range for that day and hour. The brighter the blue, the more active the hour; the darker the color, the quieter the hour. The cell for the current day and hour is shown with a white frame.
③The "Average" column at the right end of the table shows the average for each day, and the "Average" row at the bottom shows the average for each hour (across all days).
④You can switch the aggregation conditions on the fly with the buttons at the top of the panel.
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Period: Selects the period to aggregate from "4w", "12w", "26w" and "52w" (weeks).
-
Stat: Switches between "Avg" (average) and "Med" (median). "Med" is recommended if you want to reduce the influence of days with extreme moves, such as economic releases.
-
Unit: Switches the range unit between "pips" and "%" (range / open). "%" is recommended when comparing different symbols, or for stock indices, gold and cryptocurrencies.
⑤Clicking a cell displays the details for that day and hour (average, maximum, minimum and number of samples aggregated) below the table. The selected cell is shown with a gold frame. Click the same cell again to return to the normal display.
⑥Click the "-" button at the upper right of the panel to collapse the panel, and the "+" button to restore it.
The bottom line of the panel shows the range of the current H1 bar and compares it with the average for the same day and hour.
now Wed 21:00 18.2 pips (45 min) 107% of avg 17.0 pips
In this example, 45 minutes into the 21:00 hour, the price has already moved more than the usual range for the whole hour (17.0 pips), meaning that the market is "more active than usual".
Because the range of an H1 bar is still growing in the middle of the hour, it is normal for the percentage to be low while the elapsed time is short.
Use 30 minutes or more of elapsed time as a guide when judging whether the market is quiet. Conversely, if the percentage exceeds 100% while the elapsed time is still short, you can clearly judge that the market is "moving more than usual".
When the market is closed, or there has been no price movement in the current hour yet, "no data for this hour yet" is displayed.
About the hour offset
The aggregation is based on TitanFX server time. TitanFX server time is GMT+2 (GMT+3 during US daylight saving time).
To view the table in your local time, set the "Hour offset (hours from server time)" parameter to the difference between your local time and server time.
For example, to view it in Japan time, set the following values.
| Period | Value to set for Hour offset |
|---|---|
| US daylight saving time (2nd Sunday of March to 1st Sunday of November) | 6 |
| US standard time (other periods) | 7 |
When the table is shifted to Japan time, Friday's New York session falls into "Saturday 0:00 to 6:00", so a Saturday row is displayed even for FX symbols.
For the same reason, Monday 0:00 to 6:00 is shown as "-". If you do not need the Saturday row, set the "Weekend rows" parameter to "Always hide".
*If the aggregation period spans a daylight saving time change, data shifted by one hour before and after the change are mixed. If this matters to you, use a shorter aggregation period.
*The aggregation uses the H1 history. Right after startup, or while the history has not been loaded, the cells show "...", and they are aggregated automatically once the history has been downloaded. On MT5 in particular, the first download of the history may take some time.
*A cell shows "-" when the number of samples aggregated for that hour is below "Min samples per cell (fewer = -)" (3 by default). Also, because the values become large when stock indices, gold, cryptocurrencies and the like are displayed in pips, values of 1,000 or more are shown in thousands, such as "1.2k".
*The aggregation is updated automatically each time a new H1 bar starts. When the indicator is removed, the chart display returns to its original state.
*This indicator only works on the Windows version of TitanFX MT5 and MT4.
Indicator Terms of Use
Only those who agree to all the following items may use the indicators distributed on this website (https://research.titanfx.com):
1.The indicators and related descriptions are based on various data believed to be reliable, but their accuracy and completeness are not guaranteed.
2.The data displayed by the indicators do not guarantee your investment results. Also, the displayed content may vary due to market conditions and communication environments.
3.Please make investment decisions using indicators at your own risk. We are not responsible for any disadvantages or damages arising from the use of indicators.
4.Specifications of the indicators are subject to change without notice. Changes will be announced on the indicator description pages, etc.
5.Indicators should only be used by customers who have downloaded them. Transferring or selling the indicators to third parties is prohibited.
Indicator Settings
Settings on the Inputs tab
| Parameter | Description | Default |
|---|---|---|
| Symbol (blank = chart symbol) | Sets the symbol to aggregate. If left blank, the symbol of the chart the indicator is applied to is aggregated. | (blank) |
| Weeks to analyze (4-52) | Sets the aggregation period at startup in weeks. It can also be changed with the buttons on the panel. | 12 |
| Statistic | Sets the value shown in the cells: "Average" or "Median". It can also be changed with the buttons on the panel. | Average |
| Range unit | Sets the range unit: "pips" or "% (range / open)". It can also be changed with the buttons on the panel. | pips |
| Hour offset (hours from server time) | Sets how many hours to shift from server time for the aggregation (-23 to 23). To display in Japan time, set 6 during US daylight saving time and 7 otherwise. | 0 |
| Weekend rows | Sets whether to show the Saturday and Sunday rows: "Auto (show days with data)", "Always show" or "Always hide". | Auto (show days with data) |
| Min samples per cell (fewer = -) | Cells with fewer aggregated samples than this value are shown as "-". | 3 |
| Language | Sets the language displayed on the panel: "Japanese", "English", "Chinese (Simplified)" or "Chinese (Traditional)". | English |
| Fill the whole chart | If set to true, the heat map uses the entire chart area. Cell and text sizes are adjusted automatically to fit the window. | true |
| Hide price chart in full screen | If set to true, candlesticks and other chart elements are hidden in full screen mode, making the chart dedicated to the heat map. | true |
| Panel corner (ignored in full screen) | Sets the chart corner used as the reference for the panel position. | Upper left |
| Panel X (px) | Sets the horizontal distance from the reference corner to the panel (ignored in full screen mode). | 10 |
| Panel Y (px) | Sets the vertical distance from the reference corner to the panel (ignored in full screen mode). | 20 |
| Cell width (px) | Sets the width of the table cells (ignored in full screen mode). | 42 |
| Cell height (px) | Sets the height of the table cells (ignored in full screen mode). | 20 |
| Header column width (px) | Sets the width of the header column showing the days of the week (ignored in full screen mode). | 48 |
| Font | Sets the font of the text displayed on the panel. | Meiryo UI |
| Font size | Sets the size of the text displayed on the panel. | 8 |
| Color for small range | Sets the color of the cell with the smallest range. | 38,42,52 |
| Color for large range | Sets the color of the cell with the largest range. Cell colors change between these two colors according to the range. | 0,132,210 |
| Panel background color | Sets the background color of the panel. | 32,36,44 |
| Text color | Sets the color of the text displayed on the panel. | WhiteSmoke |
| Border color | Sets the color of the panel and cell borders. | 84,92,106 |
| Current cell frame color | Sets the color of the frame that marks the cell for the current day and hour. | White |
| Start minimized | If set to true, the panel starts in the collapsed state. | false |
Settings on the Colors tab
This indicator does not use this tab.