What Time Of The Trading Day Is The Most Volatile? (Amibroker code)

We found this code among “drafts”. We are not sure which particular article this is referring to, but we provide you with the code anyway:

This is the Amibroker code:

The article above only used the plot function, not any backtest.

MyLow=ValueWhen(TimeNum()==103000,lowestsince(TimeNum()==093000,Low));
MyLow1=ValueWhen(TimeNum()==123000,lowestsince(TimeNum()==103000,Low));
MyLow2=ValueWhen(TimeNum()==150000,lowestsince(TimeNum()==123000,Low));
MyLow3=ValueWhen(TimeNum()==160000,lowestsince(TimeNum()==150000,Low));
MyHigh=ValueWhen(TimeNum()==103000,highestsince(TimeNum()==093000,High));
MyHigh1=ValueWhen(TimeNum()==123000,highestsince(TimeNum()==103000,High));
MyHigh2=ValueWhen(TimeNum()==150000,highestsince(TimeNum()==123000,High));
MyHigh3=ValueWhen(TimeNum()==160000,highestsince(TimeNum()==150000,high));
VolFirstHour= (MyHigh – MyLow ) / TimeFrameGetPrice(“O”,inDaily,0) ;
VolFirstMidday= (MyHigh1 – MyLow1 ) / TimeFrameGetPrice(“O”,inDaily,0) ;
VolSecondMidday= (MyHigh2 – MyLow2 ) / TimeFrameGetPrice(“O”,inDaily,0) ;
VolLastHour= (MyHigh3 – MyLow3 ) / TimeFrameGetPrice(“O”,inDaily,0) ;

VolFirstHourAvg =MA(VolFirstHour,200) ;
VolFirstMiddayAvg =MA(VolFirstMidday,200) ;
VolSecondMidday =MA(VolSecondMidday,200) ;
VolLastHour =MA(VolLastHour,200) ;

plot(VolFirstHourAvg,”VolFirstHour”,colorred,styleline);
plot(VolFirstMiddayAvg,”VolFirstMidday”,colorBlue,styleline);
plot(VolSecondMidday,”VolSecondMidday”,colorGreen,styleline);
plot(VolLastHour,”VolLastHour”,colorBlack,styleline);