Session Statistics (SESST)

The Session Statistics Indicator computes historical statistics for an instrument or an indicator. The The Session Statistics preferences use the general format: [Statistic] of [Price] of the [First/Last] X [Minutes/Bars] of the Session The Statistic options include:

  • Highest Price
  • Lowest Price
  • Range of Price
  • High/Low Range
  • Average Price
  • Sum of Price

A standard list of Prices is provided as follows:

  • Close
  • High
  • Low
  • Open
  • OHLC/4

As an example, a user may want to access the "Highest High of the First 30 Minutes of the Session". This indicator makes that operation very quick and easy. The result will be as follows. Let's assume in our example we are looking at 10-minute data. On the first bar, the result will be the high of that first bar (first 10 minutes). On the second bar, the result would be the highest high of the first two bars (first 20 minutes). Then, on the third and remaining bars of the session, the result would be the high of the first 3 bars (first 30 minutes). Then on the first bar of the following session, the result will again reset to the highest high of that first bar, and everything starts over again. To see the effect, simply add the indicator to a chart.

Presentation

sesstChart

Above is a 5-minute Bar Chart of an Microsoft Corporation (MSFT). The Session Statistics indicator has been added twice to the chart, once showing the highest high of the first 30 minutes of each session (using preferences seen below), and once showing the lowest low of the first 30 minutes of the session.

  • Statistic -Options include "Highest Price", "Lowest Price", "Range of Price", "High/Low Range", "Average Price" and "Sum of Price", with Price being whatever price is specified below.

  • Price -Price used in calculating the result.

  • of the First/Last X Mins/Bars -A period can be specified, in either minutes or bars, and over either the start (First) or end (Last) of the session.

  • Multi-Session Statistics -When this checkbox is selected, a list of multi-session statistics is also presented, providing options of "Average of X Sessions", "Sum of X Sessions", "Max of X Sessions", "Min of X Sessions", and "Value X Sessions Back", with an area where "X" is specified (as the lookback period).

  • Draw Type -The result may be drawn as a Histogram (solid, hollow, or custom) or a Line (continuous, connected, stepped, or two-color). Histograms are recommended for most results.

  • Color and Style -The result can be drawn in any color. If the result is drawn as a histogram, two colors will be presented (one for Up and one for Down). If the result is a line, the color, style, and width may be chosen.

 

HW IB Breakout
Attempts to identify a breakout from an instruments Initial Balance. Part of the Homework education series.

Read more Download

Session Statistics Relative Volume
This chart demonstrates Investor/RT's ability to compare todays current volume in Black with the past Average Volume for that exact time period over the last 20 Days. This helps the trader get a...

Read more Download

Relative Cumulative Volume
Compares the Cumulative Volume Intraday to the Average Cumulative volume of the last X number of sessions.

Read more Download

Buttons for OHLC (Session Statistics)
This chart contains buttons that Toggle the Open, High, Low and Close of the Session.

Read more Download

Pop-up Video Description View
Better Volatility

This video explains a better method of computing volatility which has several advantages over...

 Watch
Session Statistics II - Day of Week Averages and Projecting Volume
Session Statistics II - Day of Week Averages and Projecting Volume

This video demonstrates some new functionality added to Session Statistics in 9.2.13 and beyond...

 Watch
Session Statistics - Week, Month, Year, Chart Statistics
Session Statistics - Week, Month, Year, Chart Statistics

This video demonstrates the expansion of Session Statistics to enable statistics on weekly,...

 Watch
Session Statistics I: Average Volume of Time Periods
Session Statistics I: Average Volume of Time Periods

This video demonstrates various uses for the Session Statistics Indicator, including average...

 Watch
Session Statistics Basics
Session Statistics

This video provides an overview of the versatile Session Statistics Indicator. Session...

 Watch