I posted this in the non-elite section, but if you're anything like me, you're likely to never come across it there. . . so I wanted to share this here as well, I hope this is acceptable. . .
As my final database begins to take shape, I have increasingly large data pools to play with, and quite a few interesting/informative/valuable findings.
The following data was created by considering millions (yes) of trades, going both long and short, across a variety of instruments, without slippage or commissions, using completely random logic in both entry and exit, with average in-market times ranging randomly between 30minutes and 300minutes before exiting (exits also using completely random logic). The data set used was from Jan 1st 2009, to Jan 1st 2016, and the trades used always exited upon market close.
Trades are considered based upon the entry time, not the exit time. . meaning, a trade initiated at 1:10 am and ending at 3:30 am has been counted as hour '1', not hour '3'.
A positive value indicates a 'long' bias, a negative value indicates a 'short' bias.
Enjoy. . if you have any questions, feel free to ask.