If I understand this issue about the reference time period, we're looking at setting the hi-low range from 2:00 in the afternoon till 10:00 at night Eastern time (or 1:00pm to 9:00 pm if Nicotina is an hour off, as you've observed). Is that what you get?
This makes some sense, since most currency trading tapers off during those hours, and movement above or below the range for that period might be the Asian institutions re-entering the market and giving us their opinion as to where the market would be (though Tokyo would have been opened for 2 hours before the range is set).
Wonder if it works for other pairs? In the same time range, or something closer to that continents open hours, or off hours?
Will have to explore this.
Right now, we're looking at 1 PM to 9 PM Eastern. That's 1700 GMT to 0100 GMT. That will change to Noon - 8 PM Eastern when we lose DST. (This weekend?)
Nicotina said he spent many long hours pouring over charts, finding that time window.
I don't know if it will work on other pairs.