Market Session Strategy

Market Session Strategy Indicator Explanation
This is a TradingView Pine Script indicator called "Market Session Strategy" that monitors different market sessions and generates trading signals based on pattern analysis between sessions. Let me break down how it works:

Core Functionality
The indicator divides the trading day into three sessions:

Pre-Market (7:30 PM - 3:00 AM ET by default)
Regular Market (3:00 AM - 9:30 AM ET by default)
After Hours (9:30 AM - 4:00 PM ET by default)

For each session, it:

Tracks price action (open, high, low, close)
Calculates range percentages
Identifies session bias (bullish or bearish)
Draws visual session boxes on the chart
Generates trading signals based on historical patterns

Signal Generation Methodology
The indicator generates BUY/SELL signals at the beginning of the Regular Market and After Hours sessions using three main strategies:
1. Trend Continuation/Reversal Analysis
The script tracks how often a bullish/bearish trend in one session continues or reverses in the next session. For example:

If pre-market trends historically continue into regular hours 70% of the time and today's pre-market is bullish, it may generate a BUY signal.
If reversals are more common, it may generate a counter-trend signal.

2. Tight Range Breakout Signal
The indicator identifies "tight range" sessions (where price movement is unusually constrained compared to recent averages). A tight range with a bullish bias generates a BUY signal, while a bearish bias generates a SELL signal.

3. Day of Week Pattern Analysis
The script analyzes which days of the week show stronger trend continuation probabilities. If a particular day (like Monday) historically shows strong trend continuation and the threshold is met, it generates a signal accordingly.
Visual Components
The indicator provides several visual elements:

Colored session boxes showing high/low ranges
Signal labels at entry points
Session background colors with high transparency
A comprehensive dashboard showing session status, range percentages, bias, and signals

Performance Tracking
The script tracks trade success by session and day of week, which helps refine future signals. A trade is considered successful if:

A BUY signal is followed by a close higher than open
A SELL signal is followed by a close lower than open