Hourly Opening Price

2024년 6월 24일

The Inner Circle Trader has noted that the Opening Price of every Hourly candle can be used in a Power Of 3 (PO3) context.

• If Bullish, buy BELOW the hourly open.
  
  
• If Bearish, sell ABOVE the hourly open.
  

The Power of 3 ICT model also know as "AMD" is a transformative trading strategy, ingeniously designed to streamline your time analyzing charts by focusing on three pivotal phases in market behavior: accumulation, manipulation, and distribution.

The ICT Power of Three Model dissects the market maker’s algorithm for price delivery into three pivotal actions: Accumulation, Manipulation, and Distribution. Accumulation involves smart money gathering positions before a price surge, while manipulation sees the market creating deceptive movements to trigger stops. Finally, distribution occurs as smart money offloads positions, often catching less informed traders off-guard. This strategy is a critical tool for traders to understand market makers’ maneuvers and to strategically position themselves in the market.


This indicator plots a line at the opening price of each hour and extends it on the chart for the duration of the hour. Each hour starts a new line.

You also have the option of extending the midnight opening price line across the entire trading day.

2024년 7월 8일

릴리즈 노트

*Added Midnight Price Label option and extended Midnight open line through entire calendar day.

2024년 7월 9일

릴리즈 노트

*Minor tweak to label

2024년 7월 9일

릴리즈 노트

*Minor Fix

2024년 8월 6일

릴리즈 노트

Updated Timezone function to accommodate different exchanges.

2024년 8월 6일

릴리즈 노트

Bug Fix

2024년 8월 8일

릴리즈 노트

** Updated to work on seconds time frame.

2024년 10월 5일

릴리즈 노트

Changed behavior of Midnight Open line and label.

3월 9일

릴리즈 노트

Accurate Hourly Range Tracking
Added dedicated arrays for storing historical range data for each hour
Implemented high/low tracking for precise range calculation
Added detection of hour transitions to properly record completed hours

Range Statistics
Added calculation of average ranges based on historical data
Implemented percentage tracking to show how much of average range has been used
Added identification of hours with highest and lowest average ranges

Enhanced Display Options
Created a table display for range statistics
Added formatted range values with appropriate decimal places
Added color coding to highlight the current hour

3월 10일

릴리즈 노트

Changed table to better reflect actual hourly statistics.

3월 10일

릴리즈 노트

Label fix

3월 18일

릴리즈 노트

Shows actual lookback when it is less than the user defined lookback.

3월 18일

릴리즈 노트

Range calculations rounded to symbol minimum tick value.

7월 18일

릴리즈 노트

Added Average/Median Option: New dropdown to choose between "Average" or "Median" for all range statistics calculations and displays
Statistics now calculate for all hours even when labels are disabled, ensuring the table always shows complete 24-hour data