The main objective of our study is to determine if the regular quiet daily curve (QDC) subtraction is a necessary procedure in quantifying the irregular geomagnetic variations at auroral latitudes. We define the hourly ΔH index, the absolute hour‐to‐hour deviation in nanotesla of the hourly geomagnetic horizontal component, which assigns each sample to sample deviation as geomagnetic activity without separating the “regular” and “irregular” parts of the daily magnetic field evolution. We demonstrate that the hourly gradient of the regular Sq variation is very small with respect to the irregular part, and a bulk of the nominal daily variation is actually part of the variation driven by solar wind and interplanetary magnetic field and traditionally classified as irregular. Therefore, attempts to subtract QDC can lead to a larger error, often caused by residual deviations between the used different mathematical and methodological tools and corresponding presumptions themselves. We show that ΔH provides the best and most consistent results at most timescales with the highest effective resolution among the studied indices. We also demonstrate that the ΔH index may equally be useful as a quick‐look near‐real‐time index of space weather and as a long‐term index derived from hourly magnetometer data for space climate studies.