Overview
StatLevels Suite is a professional-grade Sierra Chart study that automatically plots key reference price levels from the Prior Day session, Overnight session, and Initial Balance period — enriched with real-time historical statistics showing the probability of each level being tested during the current Regular Trading Hours (RTH) session.
Unlike basic level-plotting tools that simply draw lines, StatLevelsSuite transforms static levels into dynamic decision-support zones by displaying the historical Test Rate for each level, conditional on the day's Open Type classification.
What the Study Computes
- Previous day RTH session High, Low, VPOC, Mid-point, Close, VAH, and VAL
- Overnight/ETH session High, Low, VPOC, Mid-point, VAH, and VAL
- Initial Balance High and Low with configurable time periods (15, 30, or 60 minutes)
- RTH Opening price
- Opening Type classification (HOR, HIR, LIR, LOR, NOR)
- Historical probability statistics for each level being tested during RTH
What the Study Displays
- Horizontal price lines for up to 17 distinct levels on the chart
- Statistical probability percentages displayed as labels on each line
- Visual differentiation through line width (thicker for higher probability) and style (dotted for lower probability)
- Opening Type and Previous Trading Day date as text overlay
What the Study Stores and Persists
- Historical day data including Opening Type classification and level test outcomes
- Statistics loaded from and saved to CSV files enabling cross-session persistence
- Level test results exported to CSV files for external analysis
🚀 Self-Building Statistics Database
StatLevels Suite can automatically generate its complete statistical database from your historical chart data. Load a chart with extensive history (1000+ days recommended), enable statistics, and the study will process all historical data to build your probability model.
Once initialized, the database is intelligently maintained day-to-day — new trading days are automatically appended, statistics are recalculated, and you always trade with current probabilities. No manual updates required.
Learn how to build your statistics databaseDependencies Required
A Volume By Price study must be configured and referenced. Chart must have proper session time configuration. File system access required for CSV operations.
Key Concepts
Levels Computed
StatLevelsSuite tracks 15 price levels organized into three categories:
Prior Day (7 levels)
Overnight (6 levels)
Initial Balance (2 levels)
First 15/30/60 minutes of RTH
Open Type Classification
The Opening Type is determined by comparing the RTH Open price against the previous day's Close and High/Low boundaries:
| Code | Name | Condition |
|---|---|---|
| HOR | Higher Out of Range | Open > Previous Close AND Open > Previous High |
| HIR | Higher Inside Range | Open > Previous Close AND Open < Previous High |
| LIR | Lower Inside Range | Open < Previous Close AND Open > Previous Low |
| LOR | Lower Out of Range | Open < Previous Close AND Open < Previous Low |
| NOR | Neutral Open Range | Open = Previous Close |
Why Open Type Matters
Statistics are segmented by Open Type, ensuring probabilities match today's market context. Each Opening Type has distinct probability profiles for each level.
Statistics Model
The primary statistic is the Test Rate — the percentage of historical trading days where price reached and tested a given level during RTH.
Individual Test Rate (Exact)
The percentage of days where this specific level was tested.
Example: "pH 67.5%" means that on 67.5% of days with this Open Type, price tested the Prior Day High.
OR-Statistic (Combined)
For paired levels (High/Low pairs), this represents the probability that at least one level of the pair is tested.
Example: "pH or pL 89.2%" means on 89.2% of days, price tested either the Prior Day High OR the Prior Day Low (or both).
AND-Statistic (Conditional)
When one level of a pair is tested, the remaining level receives the AND-statistic — the conditional probability of reaching the second level given that the first was already tested.
Example: If pL is tested first and pL's stat becomes 0%, pH's statistic updates to the "pH & pL" rate — the historical frequency of testing both levels.
Visual Probability Encoding
| Test Rate | Line Width | Line Style | Meaning |
|---|---|---|---|
| ≥ 75% | 2 pixels (thick) | Solid | High-probability target |
| 31% - 74% | 1 pixel (normal) | Solid | Moderate significance |
| ≤ 30% | 1 pixel | Dotted | Low probability — de-prioritize |
| 0% | 1 pixel | Dotted | Already tested |