This script allows traders to visualize the range of time when a macro (an automated series of instructions/trades from large fund traders, executed by an algorithm) will likely occur in the market. It does this by drawing vertical lines and labels on the chart at these specific times:
(Macro Open) - 9:50 AM EST
(Macro Close) - 10:10 AM EST
(Macro Open) - 10:50 AM EST
(Macro Close) - 11:10 AM EST
(Macro Open) - 1:10 PM EST
(Macro Close) - 1:40 PM EST
(Macro Open) - 3:15 PM EST
(Macro Close) - 3:45 PM EST
The theory behind the use of these macros - is that the market will either seek buy side or sell side liquidity, or seek to rebalance price at a point of interest in between the open and close of the macro. Traders who follow this theory can use that information to anticipate how price might behave.
When a macro occurs, the script draws a vertical line on the chart using a dotted line style with a user-defined color. Additionally, a label is placed above the line to indicate whether it is a Macro Open or Macro Close event.
To preserve space, the labels are abbreviated on chart - "Macro Open" (M.O.) and "Macro Close" (M.C.) for both the morning and afternoon trading sessions. The labels may be turned on/off by the user.
The script also includes alerts that can notify traders when a macro occurs. These alerts can be set to go off once per bar close, and the alert message indicates the specific macro type and time.
This script is entirely open-source, meaning that traders can read the code and modify it as needed. Credit to the foundation of this script goes to TradingView user @rickyzcarroll for his open source Strat Assistant Hour Flip script. Important changes include the specific time changes and alert function.
(Macro Open) - 9:50 AM EST
(Macro Close) - 10:10 AM EST
(Macro Open) - 10:50 AM EST
(Macro Close) - 11:10 AM EST
(Macro Open) - 1:10 PM EST
(Macro Close) - 1:40 PM EST
(Macro Open) - 3:15 PM EST
(Macro Close) - 3:45 PM EST
The theory behind the use of these macros - is that the market will either seek buy side or sell side liquidity, or seek to rebalance price at a point of interest in between the open and close of the macro. Traders who follow this theory can use that information to anticipate how price might behave.
When a macro occurs, the script draws a vertical line on the chart using a dotted line style with a user-defined color. Additionally, a label is placed above the line to indicate whether it is a Macro Open or Macro Close event.
To preserve space, the labels are abbreviated on chart - "Macro Open" (M.O.) and "Macro Close" (M.C.) for both the morning and afternoon trading sessions. The labels may be turned on/off by the user.
The script also includes alerts that can notify traders when a macro occurs. These alerts can be set to go off once per bar close, and the alert message indicates the specific macro type and time.
This script is entirely open-source, meaning that traders can read the code and modify it as needed. Credit to the foundation of this script goes to TradingView user @rickyzcarroll for his open source Strat Assistant Hour Flip script. Important changes include the specific time changes and alert function.
Note di rilascio:
Added NY Lunch Macro (11:50am open 12:10pm close)
Added alert function for each open and close
Included NY lunch macro in Any alert
Added alert function for each open and close
Included NY lunch macro in Any alert
Note di rilascio:
Added 2 London Macros:
2:33am - 3:00am
4:03am - 4:30am
Times are EST (New York)
*Important - Your time frame must be set on a time in which the open/close of the candle is on the time of the macro. A 1 min candle will show all macros
2:33am - 3:00am
4:03am - 4:30am
Times are EST (New York)
*Important - Your time frame must be set on a time in which the open/close of the candle is on the time of the macro. A 1 min candle will show all macros
Note di rilascio:
Added:
(Macro Open) - 8:50 AM EST
(Macro Close) - 9:10 AM EST
Added:
The "Any alert() function call" now includes a "2 minute warning" alert before each Macro Open.
-the purpose of this is to give you time to asses the current conditions of the chart prior to the Macro Open window.
"The reason why you're getting stopped out and you don't know why the market moved is because you're not doing what I'm teaching. It's running its macro, a short little list of things that the algorithm is supposed to do based on time, day of the week, seasonality, and the liquidity that's in play."
-Michael Huddleston
(Macro Open) - 8:50 AM EST
(Macro Close) - 9:10 AM EST
Added:
The "Any alert() function call" now includes a "2 minute warning" alert before each Macro Open.
-the purpose of this is to give you time to asses the current conditions of the chart prior to the Macro Open window.
"The reason why you're getting stopped out and you don't know why the market moved is because you're not doing what I'm teaching. It's running its macro, a short little list of things that the algorithm is supposed to do based on time, day of the week, seasonality, and the liquidity that's in play."
-Michael Huddleston
Note di rilascio:
Corrected the errors of the previous update. Times and alerts are correct now!
Note di rilascio:
DTCC fix
Note di rilascio:
-Long overdue -
-Added Timezone input
-Updated to pinescript v5
-Added Timezone input
-Updated to pinescript v5