The logic is that there is little value comparing for example the of the London session against of the London-NY session - the London-NY will always have higher . But how does today's london compare to yesterdays london or the london average.
The indicator has moving averages that only consider the average of previous episodes of the same session - so the average on the london session is the average of the past 5 london sessions (NY and asia and London-NY are not included in the calculation of the MA).
The indicator goes as high as 1H timeframe and the average line does not function below 5 mins - thats a limitation on available data to calculate it.
There's also a 'dark screen' function. Thats because I like a black background so the colours need to be inverted.
Hope its useful. Good luck.
- added the option to show a simple moving average for all bars
- added the option to show/hide the session average or simple average
It does not affect my performance if my fellow retail traders do good or bad so I just share if i think others will use it. Its also a good way to back the script up in case i delete it by accident.