HODAR - Hour Of Day Average Range Bands - Indicators

This indicator is a further adaptation of my DOWAR – Day Of Week Average Range Bands indicator that can be found here:

https://www.prorealcode.com/prorealtime-indicators/dowar-day-of-week-average-range-bands/

This version calculates an all time average range for each hour of the day and then applies it to the chart as bands or a background candle or both. So for example on candles that open at 1000 and close at 1100 the bands (or background candle) will represent the all time average range for all recorded hours of 1000 to 1100 up to that date.

The bands/candles can be made wider or narrower by adjusting the ‘Multiple’ setting.

The centre of the bands/candles can be based on any custom close such as median price, close, typical price, total price etc.

By adjusting the offset you can decide which hours custom close the bands/candles will be centred on. Zero = this hour’s, 1 = the previous hour’s etc.

You can set the start date from when the indicator should start calculating the hourly averages. Set StartDate to zero if you want to use all available history.

//HODAR Bands - Hour Of Day Average Range Bands
//By Vonasi
//20181219

//Multiple = 1
//Offset = 1
//Bands = 0
//Candles = 1
//StartDate = 0

if opendate >= StartDate or startdate = 0 then
IF openhour = 0 THEN
H0 = (H0 + (High - Low))
H0Count = (H0Count + 1)
ThisHour = (H0 / H0Count)
ELSIF openhour = 1 THEN
H1 = (H1 + (High - Low))
H1Count = (H1Count + 1)
ThisHour = (H1 / H1Count)
ELSIF openhour = 2 THEN
H2 = (H2 + (High - Low))
H2Count = (H2Count + 1)
ThisHour = (H2 / H2Count)
ELSIF openhour = 3 THEN
H3 = (H3 + (High - Low))
H3Count = (H3Count + 1)
ThisHour = (H3 / H3Count)
ELSIF openhour = 4 THEN
H4 = (H4 + (High - Low))
H4Count = (H4Count + 1)
ThisHour = (H4 / H4Count)
ELSIF openhour = 5 THEN
H5 = (H5 + (High - Low))
H5Count = (H5Count + 1)
ThisHour = (H5 / H5Count)
ELSIF openhour = 6 THEN
H6 = (H6 + (High - Low))
H6Count = (H6Count + 1)
ThisHour = (H6 / H6Count)
ELSIF openhour = 7 THEN
H7 = (H7 + (High - Low))
H7Count = (H7Count + 1)
ThisHour = (H7 / H7Count)
ELSIF openhour = 8 THEN
H8 = (H8 + (High - Low))
H8Count = (H8Count + 1)
ThisHour = (H8 / H8Count)
ELSIF openhour = 9 THEN
H9 = (H9 + (High - Low))
H9Count = (H9Count + 1)
ThisHour = (H9 / H9Count)
ELSIF openhour = 10 THEN
H10 = (H10 + (High - Low))
H10Count = (H10Count + 1)
ThisHour = (H10 / H10Count)
ELSIF openhour = 11 THEN
H11 = (H11 + (High - Low))
H11Count = (H11Count + 1)
ThisHour = (H11 / H11Count)
ELSIF openhour = 12 THEN
H12 = (H12 + (High - Low))
H12Count = (H12Count + 1)
ThisHour = (H12 / H12Count)
ELSIF openhour = 13 THEN
H13 = (H13 + (High - Low))
H13Count = (H13Count + 1)
ThisHour = (H13 / H13Count)
ELSIF openhour = 14 THEN
H14 = (H14 + (High - Low))
H14Count = (H14Count + 1)
ThisHour = (H14 / H14Count)
ELSIF openhour = 15 THEN
H15 = (H15 + (High - Low))
H15Count = (H15Count + 1)
ThisHour = (H15 / H15Count)
ELSIF openhour = 16 THEN
H16 = (H16 + (High - Low))
H16Count = (H16Count + 1)
ThisHour = (H16 / H16Count)
ELSIF openhour = 17 THEN
H17 = (H17 + (High - Low))
H17Count = (H17Count + 1)
ThisHour = (H17 / H17Count)
ELSIF openhour = 18 THEN
H18 = (H18 + (High - Low))
H18Count = (H18Count + 1)
ThisHour = (H18 / H18Count)
ELSIF openhour = 19 THEN
H19 = (H19 + (High - Low))
H19Count = (H19Count + 1)
ThisHour = (H19 / H19Count)
ELSIF openhour = 20 THEN
H20 = (H20 + (High - Low))
H20Count = (H20Count + 1)
ThisHour = (H20 / H20Count)
ELSIF openhour = 21 THEN
H21 = (H21 + (High - Low))
H21Count = (H21Count + 1)
ThisHour = (H21 / H21Count)
ELSIF openhour = 22 THEN
H22 = (H22 + (High - Low))
H22Count = (H22Count + 1)
ThisHour = (H22 / H22Count)
ELSIF openhour = 23 THEN
H23 = (H23 + (High - Low))
H23Count = (H23Count + 1)
ThisHour = (H23 / H23Count)
ENDIF

upper = customclose[offset] + ((ThisHour * multiple)/2)
lower = customclose[offset] - ((ThisHour * multiple)/2)

if candles then
drawcandle(lower,upper,lower,upper) COLOURED(100,149,237,20) BORDERCOLOR(0,0,0,100)
endif

c = 0
if bands then
c = 255
endif
else
upper = close
lower = close
c = 0
endif

RETURN upper coloured (100,149,237,c) style(line, 1) as "Upper Band", lower coloured (100,149,237,c) style(line, 1) as "Lower Band"

100

101

102

103

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

126

127

//HODAR Bands - Hour Of Day Average Range Bands

//By Vonasi

//20181219

//Multiple = 1

//Offset = 1

//Bands = 0

//Candles = 1

//StartDate = 0

if opendate >= StartDate or startdate = 0 then

IF openhour = 0 THEN

H0 = (H0 + (High - Low))

H0Count = (H0Count + 1)

ThisHour = (H0 / H0Count)

ELSIF openhour = 1 THEN

H1 = (H1 + (High - Low))

H1Count = (H1Count + 1)

ThisHour = (H1 / H1Count)

ELSIF openhour = 2 THEN

H2 = (H2 + (High - Low))

H2Count = (H2Count + 1)

ThisHour = (H2 / H2Count)

ELSIF openhour = 3 THEN

H3 = (H3 + (High - Low))

H3Count = (H3Count + 1)

ThisHour = (H3 / H3Count)

ELSIF openhour = 4 THEN

H4 = (H4 + (High - Low))

H4Count = (H4Count + 1)

ThisHour = (H4 / H4Count)

ELSIF openhour = 5 THEN

H5 = (H5 + (High - Low))

H5Count = (H5Count + 1)

ThisHour = (H5 / H5Count)

ELSIF openhour = 6 THEN

H6 = (H6 + (High - Low))

H6Count = (H6Count + 1)

ThisHour = (H6 / H6Count)

ELSIF openhour = 7 THEN

H7 = (H7 + (High - Low))

H7Count = (H7Count + 1)

ThisHour = (H7 / H7Count)

ELSIF openhour = 8 THEN

H8 = (H8 + (High - Low))

H8Count = (H8Count + 1)

ThisHour = (H8 / H8Count)

ELSIF openhour = 9 THEN

H9 = (H9 + (High - Low))

H9Count = (H9Count + 1)

ThisHour = (H9 / H9Count)

ELSIF openhour = 10 THEN

H10 = (H10 + (High - Low))

H10Count = (H10Count + 1)

ThisHour = (H10 / H10Count)

ELSIF openhour = 11 THEN

H11 = (H11 + (High - Low))

H11Count = (H11Count + 1)

ThisHour = (H11 / H11Count)

ELSIF openhour = 12 THEN

H12 = (H12 + (High - Low))

H12Count = (H12Count + 1)

ThisHour = (H12 / H12Count)

ELSIF openhour = 13 THEN

H13 = (H13 + (High - Low))

H13Count = (H13Count + 1)

ThisHour = (H13 / H13Count)

ELSIF openhour = 14 THEN

H14 = (H14 + (High - Low))

H14Count = (H14Count + 1)

ThisHour = (H14 / H14Count)

ELSIF openhour = 15 THEN

H15 = (H15 + (High - Low))

H15Count = (H15Count + 1)

ThisHour = (H15 / H15Count)

ELSIF openhour = 16 THEN

H16 = (H16 + (High - Low))

H16Count = (H16Count + 1)

ThisHour = (H16 / H16Count)

ELSIF openhour = 17 THEN

H17 = (H17 + (High - Low))

H17Count = (H17Count + 1)

ThisHour = (H17 / H17Count)

ELSIF openhour = 18 THEN

H18 = (H18 + (High - Low))

H18Count = (H18Count + 1)

ThisHour = (H18 / H18Count)

ELSIF openhour = 19 THEN

H19 = (H19 + (High - Low))

H19Count = (H19Count + 1)

ThisHour = (H19 / H19Count)

ELSIF openhour = 20 THEN

H20 = (H20 + (High - Low))

H20Count = (H20Count + 1)

ThisHour = (H20 / H20Count)

ELSIF openhour = 21 THEN

H21 = (H21 + (High - Low))

H21Count = (H21Count + 1)

ThisHour = (H21 / H21Count)

ELSIF openhour = 22 THEN

H22 = (H22 + (High - Low))

H22Count = (H22Count + 1)

ThisHour = (H22 / H22Count)

ELSIF openhour = 23 THEN

H23 = (H23 + (High - Low))

H23Count = (H23Count + 1)

ThisHour = (H23 / H23Count)

ENDIF

upper = customclose[offset] + ((ThisHour * multiple)/2)

lower = customclose[offset] - ((ThisHour * multiple)/2)

if candles then

drawcandle(lower,upper,lower,upper) COLOURED(100,149,237,20) BORDERCOLOR(0,0,0,100)

endif

c = 0

if bands then

c = 255

endif

else

upper = close

lower = close

c = 0

endif

RETURN upper coloured (100,149,237,c) style(line, 1) as "Upper Band", lower coloured (100,149,237,c) style(line, 1) as "Lower Band"

Apply the indicator only to the hourly price chart.

I recommend that you download the itf file and import it to get full functionality rather than cut and pasting the code.

average range bands Hour of day range range bands

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments :

Filename : download the ITF files

How to import ITF files into ProRealTime platform?

Find other exclusive trading pro-tools on

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials

f1_maik Well programmed, but in my eyes ‘only’ better Bollinger Bands with all their quirks and fals...

groelandes Me uno al comentario de Edelmiro. Un millón de gracias por el trabajo constante, dándonos in...

JohnScher Ja, das würde mich auch interessieren

larouedegann TIMEFRAME(15minutes) apparemment ne fonctionne pas

Iván Bonjour Je ne comprends pas bien le problème. L'indicateur fonctionne dans n'importe quelle...

larouedegann OUI je le sais, il fonctionne dans toutes les unités de temps. Mais je souhaite utiliser l'i...

finplus Bonjour, une petite demande concernant cet indicateur : comment faire pour que lorsque la bo...

LucasBest Bonjour, la coloration des bandes se fait ligne 111 et 112 à l'aide des instructions colorbe...

YvesRobert Bonjour Nicolas, en effet ca marche, je me suis trompé, j'ai bien tout le tracé. C'est parce...

oliTR Bonjour, les conditions longCond et shortCond ne contiennent-elles pas une condition qui s'a...

xpe74 Utilitaire vraiment top, d'autant qu'ajouter des filtres de seuil peux aider a limiter le no...

Boris Hi IVMcm, thanks for your amazing work. I have tested all of your indicators and use some of...

IV Mcm With pleasure and thanks!

ashiash how to use this indicator can i use tradingview platform

Nicolas Sorry there was a small issue in the code, i have changed the attached itf file and updated ...

Mitchy14 Hi Nicholas, apologies, I am usually fairly good at implementing your creations (for which I...

Nicolas Are you using PRT version pre-v11? TIMEFRAME for indicators is possible since months for pro...

Seabiscuit Hi! I like this indicator a lot, been using it on a 30 min timeframe and usually confirms my...

Ramahu Bonjour et merci pour cet indicateur ! je l'observe sur les actions du Nasdaq et la plupart ...

IV Mcm Line 68 and 70, you must delete the instruction at the end of the line "" Bordercolor(0,0,0,...

BoutDePain This instruction is for the V11 maybe that you are using V10.3 then you can safely remove it.

Protagonist Bonjour, Je vois l'instruction inRange mais je ne trouve pas sa signification. Pouvez-vous...

IV Mcm The use of this indicator is however logical, it gives you potential movement departures dep...

Nicolas The updated version (v2) is available to download and discuss in this forum thread: https://...

IV Mcm Thanks Nicolas

Nicolas La définition des couleurs se situent entre les lignes 94 et 118. Selon le type de bougie (h...

Manu35250 Bonjour Nicolas, Est il possible de convertir cet indicateur en screener ? J'essaie depui...

Nicolas Bien sûr, merci de formuler la demande dans le forum approprié en respectant les règles de p...

HODAR – Hour Of Day Average Range Bands

Share this

Likes