One of the reference points for Mean Reversion and Range Extension trades is the High and Low reference of the day w.r.t time. Here is a set of stats which helps us take a probabilistic view of the day structure.
The hypothesis that we tried to test here was - How often does the High or Low marked x minutes after the market open remains so for the rest of the day?
Y axis in % | X axis in Minutes - Data - 847 Trading days till Nov'17