Number of Times an Event Occurred in the First N-Minutes of a Trading Session

This function analyzes the first N-minutes of a trading session then counts the number of times a specific event occurred. As an example, you can use it to measure the number of times the price crossed above its short-term moving average during the first trading hour.

You can implement this example by typing:
a = cross(close, sma(10));
p = FirstMinutesCond(60, a);

The functions name is "FirstMinutesCond". As you can see, you must provide the number of minutes as the first argument and the condition rule as the second argument.

You can also calculate the number of times the crossover happened in the previous day then compare it with today's number. Here is how to implement this idea:
b = cross(close, sma(10));
p = FirstMinutesCond(60, b);
a = barssince(day() != ref(day(), 1)) + 1;
a = iff(p > 0, ref(p, a), 0);
rule1 = p > a;

You can plot this formula in a chart or add it as a rule in an intraday trading system.

Here is another example:
Calculate the number of occurrences of the following pattern (Close higher than open price) in the first trading hour.
p = FirstMinutesCond(60, close > open);

To calculate the support or resistance lines formed in the first N-minutes of a trading session, use the "FirstMinutesHL" function I have shared few months ago.
Support and resistance lines based on N-Minutes high/low of a trading session

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