Essa's Indicator 2.0

19 set 2024

Essa's Indicator V2: Beginner's Guide

This custom TradingView indicator has been designed to help you identify key trading opportunities based on session highs/lows, volatility, and moving averages. Below is a breakdown of the main features:

1. Exponential Moving Averages (EMAs)
Fast EMA (Blue Line): Tracks the short-term market trend (default: 9-period EMA).
Slow EMA (Red Line): Tracks the longer-term market trend (default: 21-period EMA).

You can turn on/off the EMAs using the "Show EMAs" option in the settings.
EMAs help smooth out price action and give a clearer picture of trends. A crossover of the fast EMA above the slow EMA can signal an upward trend, while the reverse may indicate a downward trend.

2. Session Highs and Lows
The indicator tracks price highs and lows for three major trading sessions:

• London Session (Red): Highlighted in red. Active between 08:00 and 17:00 (LDN timezone) or 03:00 and 12:00 (NY timezone).
  
• New York Session (Blue): Highlighted in blue. Active between 12:00 and 21:00 (LDN timezone) or 07:00 and 16:00 (NY timezone).
  
• Asia Session (Yellow): Highlighted in yellow. Active between 22:00 and 08:00 (LDN timezone) or 18:00 and 03:00 (NY timezone).
  

Highs and lows for each session are plotted on the chart as lines. Breakouts from these levels can signal important trading opportunities:

• London High/Low: Red lines.
  
• New York High/Low: Blue lines.
  
• Asia High/Low: Yellow lines.
  

The background color also changes depending on the active session:

• London: Light red background.
  
• New York: Light blue background.
  
• Asia: Light yellow background.
  

3. Breakout Alerts
You can set alerts when the price breaks above or below session highs/lows:

Break Above London High: Alert triggered when the price crosses the London session high.
Break Below London Low: Alert triggered when the price falls below the London session low.
Similar alerts exist for the New York and Asia sessions as well.

4. Volatility-Adjusted EMA
The EMAs in this indicator are adjusted based on volatility (ATR - Average True Range). This allows the EMAs to respond to market conditions more dynamically, giving you more accurate trend readings in volatile markets.

5. ZigZag Feature (Optional)
You can enable the ZigZag feature to help visualize the price action's highs and lows:

ZigZag Lines: Highlight major peaks and troughs in price movements, helping you spot trends more easily.
This is helpful for identifying reversals or trend continuations.

6. Fractal Markers
This indicator uses fractals to mark potential turning points in the market:

Green Triangles (Above the Price): Indicate up fractals (potential reversal points where the price could move upwards).
Red Triangles (Below the Price): Indicate down fractals (potential reversal points where the price could move downwards).

Fractals can be a helpful confirmation tool when identifying entry and exit points.

7. Custom Timezone Options
You can choose between London (LDN) and New York (NY) timezones in the settings to adapt the session times to your trading location. This ensures the session high/low markers are displayed correctly for your trading region.

By default, the New York (NY) timezone is enabled for FXCM charts in the UK.
For BTC charts, you will need to switch to the appropriate time zone manually.

Thanks
Essa

1 gen

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Pinescript V6 Update

1 gen

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Pinescript 6 - Organised

1 gen

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Updated

1 gen

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Refined Settings

1 gen

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Refined Settings

3 gen

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Fixed Bugs

3 gen

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Fixed Bugs

5 mar

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Minor Updates

7 apr

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Version 3

Simplified and QOL

3 mag

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Added Mini Trend Dashboard

4 mag

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Tidied Up + Fractal Dashboard

4 mag

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Automatic Fib Update

4 mag

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Refactored

4 mag

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Essa’s Indicator V4 – Multi-Session, Fib Zone & Market Structure Tool

Essa’s Indicator V4 is a comprehensive institutional-style trading suite designed to give traders deep insight into price context, session dynamics, and market structure. Built with flexibility in mind, it works across all asset classes and timeframes.

Core Features:

Session Highs, Lows & Labels

• Tracks London, New York, and Asia session highs and lows
  
• Optional session lines, price labels, and background shading
  
• Includes breakout alerts when price crosses session extremes
  
• Session times auto-adjustable between NY and LDN clock presets
  

Dynamic Fibonacci Session Zones

• Automatically draws Fib zones at the close of each session (50%, 61.8%, 70.5%, 78.6%)
  
• Bullish or bearish zones based on session direction
  
• Zones flip automatically if invalidated by price
  
• Option to limit number of zones displayed (default: 2)
  

ZigZag & Structure Detection

• Optional ZigZag swing plotting based on configurable pivot length
  
• Helps visualise major turning points and structure shifts
  

Higher High / Lower Low Logic

• Detects HH, LL, HL, LH with advanced logic
  
• Labels major structure points to support price action analysis
  

Fractal Recognition

• Marks clean highs and lows using bar-based fractal logic
  
• Adjustable fractal length for precision
  

Multi-Timeframe Dashboard

• Displays trend, fractal break status, and action suggestion across 1W to 15m
  
• Action is based on trend + fractal confluence, with Fib zone context
  
• ATR filters used to highlight high-volatility setups
  
• Clean, minimal design with adjustable font sizes
  

Session Summary Panel

• Displays whether price is above, below, or inside previous session ranges
  
• Confirms if price is inside latest active Fib zone
  

Smart Alerts

• Alerts for breakout of session levels
  
• Alerts when all intraday timeframes (4H to 15m) align in trend direction
  

Ideal For:

• Day traders tracking session momentum
  
• Swing traders using retracements for entry
  
• Structure-based traders who rely on HH/LL and fractal confluence
  
• Traders wanting high-quality multi-timeframe context in one tool
  

Settings Include:

• Full control over visual toggles
  
• ATR filter configuration
  
• Session source switching (NY or LDN)
  
• Dashboard font sizes
  
• Max Fib zone memory control
  

All components are modular and can be enabled/disabled depending on your strategy. This tool is designed to be both visually clean and information-dense, enabling precision without clutter.

4 mag

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Added 0% and 100% Lines to Fib

4 mag

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Colours + Styling Options

5 mag

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Updated

13 mag

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Update