All of us “hear” what the very best hours are to commerce however how can we validate the very best hours to commerce? There are scalpers and there are swing merchants. Scalpers might wish to goal completely different market circumstances, maybe durations the place candles are lengthy sufficient to revenue and swing merchants / intraday merchants might wish to establish the very best hour for lengthy maintain entries.
As coders and analysts, we should be capable to show what the very best hour is to commerce based mostly on present market circumstances, calculated over a time frame.
Right here is my methods to investigate value information for an instrument.
Indicators /Abilities required:
- Excel pivot tables
For scalpers, you may wish to take note of the ATR script. The thought is for me, as a scalper, to focus on hours that provide the very best buying and selling vary for my focused instrument.
For Swing/Intraday merchants you may wish to take note of ZigZag. The thought is to focus on the hour that has the very best ATR worth inside the swing low to swing excessive or vice versa, in an effort to really feel comfy staying within the positoin.
To establish the very best hour to scalp I run the ATR Statistics.mq4 script on ANY time interval to assemble the next columns in a csv file, over a interval of N Bars for the next time durations (M1,5,15,30,H1)
- Day of week
- Day of Yr
This script calculates the typical buying and selling vary for each single bar. The thought is for me, as a scalper, to focus on hours that provide the very best buying and selling vary for my focused instrument.
Open the spreadsheet and create a pivot desk on the values. See the hooked up Excel sheet. The fields in yellow had been derived from the exported information.
Analyze the output and goal your technique.
Finish end result will look one thing like
For scalpers, run the ZigZagStats.mq4 script. Repeat the identical course of above.