Comparing Typical Volume or Volatility by Time Period

Summary

This indicator groups historical observations by a selected calendar period and displays the median volume or true range for each group. The available groupings are hours of day, days of week, days of month, and months. A dashboard uses color intensity to show each group’s value relative to the maximum; an optional delta mode instead scales colors between the minimum and maximum to emphasize differences. The display also reports the overall minimum and maximum median values.

The tool is descriptive rather than predictive: it helps identify recurring patterns in trading activity or range that may inform when to investigate liquidity or volatility conditions. It does not supply trading signals or test whether these patterns earn returns. Results depend on the available instrument history, the chosen aggregation period, and whether volume or true range is a useful proxy for the question being studied. The dashboard is unavailable when the chart timeframe exceeds the selected period’s required resolution.

Key ideas

• The indicator groups volume or true range observations by a selected calendar interval and computes medians.
• Users can compare activity across hours, weekdays, month days, or months.
• A color scale shows relative values, with an optional mode emphasizing the difference between the smallest and largest medians.
• The dashboard describes historical patterns and does not provide a trading strategy or evidence of predictive value.
• The chart timeframe must be no higher than the selected aggregation period allows.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.