Session Opening Ranges [DB](Reuploaded with open source script)
A simple indicator that displays the 15 minute opening ranges of the Asia, London and New York trading sessions.
You can select how many days you want to display in total and also customise the colors of each session. The indicator is coded to NY time and should always display at the correct times, which are:
- 18:00 - 18:15 for Asia
- 03:00 - 03:15 for London
- 09:30 - 09:45 for New York
You can also choose to display the sessions name and/or range in points.
If you find any bugs let me know in the comments.
Enjoy!
Cerca negli script per "sessions"
Dynamic Customizable 50% Line & Daily High/Low + True Day OpenA Unique Indicator for Precise Market-Level Analysis
This indicator is a fully integrated solution that automates complex market-level calculations and visualizations, offering traders a tool that goes beyond the functionality of existing open-source alternatives. By seamlessly combining several trading concepts into a single script, it delivers efficiency, accuracy, and customization that cater to both novice and professional traders.
Key Features: A Breakdown of What Makes It Unique
1. Adaptive Daily Highs and Lows
Automatically detects and plots daily high and low levels based on the selected time frame, dynamically updating in real time.
Features session-based adjustments, allowing traders to focus on levels that matter for specific trading sessions (e.g., London, New York).
Fully customizable styling, visibility, and alerts tailored to each trader’s preferences.
How It Works:
The indicator calculates daily high and low levels directly from price data, integrating session-specific time offsets to account for global trading hours. These levels provide traders with clear visual markers for key liquidity zones.
2. Automated ICT 50% Range Line
A pioneering implementation of ICT’s mid-range concept, this feature dynamically calculates and displays the midpoint of the daily range.
Offers traders a visual guide to identify premium and discount zones, aiding in determining market bias and potential trade setups.
How It Works:
The script calculates the range between the day’s high and low, dividing it by two to generate the midline. This line updates in real-time, ensuring that traders always see the most current premium and discount levels as price action evolves.
3. Dynamic Market Open Levels
Plots session opens (e.g., Asia, London, New York) and the True Day Open to provide actionable reference points for intra-day trading strategies.
Enhances precision in identifying liquidity shifts and aligning trades with institutional price movements.
How It Works:
The indicator uses predefined session times to calculate and display the opening levels for key trading sessions. It dynamically adjusts for time zones, ensuring accuracy regardless of the trader’s location.
4. Custom Watermark for Enhanced Visualization
Includes an optional watermark feature that allows users to display custom text on their charts.
Ideal for personalization, branding, or highlighting session notes without disrupting the clarity of the chart.
Why This Indicator Stands Out
First-to-Market Automation:
While the ICT 50% range line is a widely recognized concept, this is the first script to automate its calculation, combining it with other pivotal trading levels in a single tool.
All-in-One Functionality:
Unlike open-source alternatives that focus on individual features, this script integrates daily highs/lows, mid-range levels, session opens, and customizable watermarks into one cohesive system. The consolidation reduces the need for multiple indicators and ensures a clean, efficient chart setup.
Dynamic Customization:
Every feature can be adjusted to align with a trader’s strategy, time zone, or aesthetic preferences. This level of adaptability is unmatched in existing tools.
Proprietary Logic:
The indicator’s underlying calculations are built from scratch, leveraging advanced programming techniques to ensure accuracy and reliability. These proprietary methods differentiate it from similar open-source scripts.
How to Use This Indicator
Apply the Indicator:
Add it to your TradingView chart from the library.
Configure Settings:
Use the intuitive settings panel to adjust plotted levels, colors, styles, and visibility. Tailor the indicator to your trading strategy.
Incorporate into Analysis:
Combine the plotted levels with your preferred trading approach to identify liquidity zones, establish market bias, and pinpoint potential reversals or entries.
Stay Focused:
With all key levels automated and updated in real time, traders can focus on execution rather than manual plotting.
Originality and Justification for Closed Source
This script is closed-source due to its unique combination of features and proprietary logic that automates complex trading concepts like the ICT 50% range line and session-specific levels. Open-source alternatives lack this level of integration and customization, making this indicator a valuable and original contribution to the TradingView ecosystem.
What Sets It Apart from Open-Source Scripts?
Unlike open-source tools, this indicator doesn’t just replicate individual features—it enhances and integrates them into a seamless, all-in-one solution that offers traders a more efficient and effective way to analyze the market.
ICT Digital open Daily DividersDescription for "ICT Digital Open Daily Dividers" TradingView Indicator
Overview
The "ICT Digital Open Daily Dividers" is a versatile and comprehensive TradingView Pine Script indicator designed for traders who utilize Institutional Order Flow methodologies, particularly in ICT (Inner Circle Trader) trading. This indicator provides a structured visual framework to assist traders in identifying key daily market sessions, critical opening prices, and distinguishing different trading days, especially focusing on the Sunday open, which is a crucial element in the ICT trading strategy.
Core Functionalities
Daily Vertical Lines: The script plots vertical lines at the start of each trading day, which helps to demarcate daily trading sessions. These lines are customizable, allowing traders to choose their color, style (solid, dashed, or dotted), and width. This feature helps in visually segmenting each trading day, making it easier to analyze daily price action patterns.
Sunday Open Differentiation: Unlike many other daily divider indicators, this script uniquely provides the option to highlight the Sunday open at 6 PM EST with distinct lines. This feature is especially valuable for ICT traders who consider the Sunday open as a critical reference point for weekly analysis. The color, style, and width of the Sunday open lines can be set separately, providing a clear visual distinction from regular weekday separators.
12 AM Open Toggle: For markets that are influenced by midnight opens, the indicator includes an option to shift the daily open line to 12 AM instead of the default 6 PM. This flexibility allows traders to adapt the indicator to different market dynamics or trading strategies.
Timezone Customization: The indicator allows traders to set the timezone for the open lines, ensuring that the vertical lines align accurately with the trader’s specific market hours, whether they follow New York time or any other timezone.
Session Time Filters: The script can hide or show specific trading session markers, such as the New York session open and close, which are pivotal for ICT traders. These markers help in focusing on the most active and liquid trading times.
Customizable Style Settings: The script includes comprehensive styling options for the plotted lines and session markers, allowing traders to personalize their charts to suit their visual preferences and improve clarity.
Day of the Week Labels: The indicator can plot labels for each day of the week, providing a quick reference to the day’s price action. This feature is particularly useful in reviewing weekly trading patterns and performance.
Use in ICT Trading
In ICT trading, the concept of the "open" is fundamental. The "ICT Digital Open Daily Dividers" indicator serves multiple purposes:
Market Structure Identification: By clearly marking daily opens, traders can easily identify market structure changes such as breakouts, retracements, or consolidations around these key levels.
Reference Points: The Sunday open is often a key level in ICT analysis, serving as a benchmark for assessing market direction for the upcoming week. This indicator’s ability to plot Sunday opens separately makes it uniquely suited for ICT strategies.
Time-based Analysis: ICT methodology often involves analyzing the market at specific times of the day. This indicator supports such analysis by marking significant session opens and closes.
Uniqueness and Advantages
The "ICT Digital Open Daily Dividers" stands out from other similar indicators due to its specialized features:
Sunday Open Highlighting: Few indicators offer the capability to specifically mark the Sunday open with distinct styling options.
Flexibility in Time Adjustments: With options to adjust the open time to either 6 PM or 12 AM, this indicator caters to a broader range of trading strategies and market conditions.
Enhanced Visualization: The wide range of customization options ensures that traders can tailor the indicator to their specific needs, enhancing the usability and visual clarity of their charts.
Compliance with TradingView's Pine Script Community Guidelines
The description adheres to TradingView's guidelines by being comprehensive, clear, and informative. It highlights the utility of the script, its unique features, and its application in trading strategies without making exaggerated claims about performance or profitability. The detailed customization options and unique functionalities are emphasized to differentiate this script from other standard daily divider indicators.
Working HoursWorking Hours Visualization
Description:
This script is designed to visually highlight specific "Working Hours" sessions on the chart using background colors. It is tailored and optimized for the 15-minute timeframe, ensuring accurate session representation and proper functionality. If you choose to use this script on other timeframes, adjustments may be necessary to maintain its effectiveness.
Key Features:
Working Hours Highlighting: Displays background colors to mark predefined working hours, helping you focus on specific trading sessions.
Future Session Projection: Highlights working hours for future candles, providing a clear visual guide for planning trades.
Customizable Appearance: Offers adjustable colors, transparency, and session timings to suit individual preferences.
Weekly Separators: Includes optional weekly separators to visually distinguish trading weeks.
Important Notes:
Timeframe Compatibility:
This script is optimized for the 15-minute timeframe.
Using it on other timeframes may require optimization of session inputs and related logic.
Please feel free to reach out if you need assistance with adjustments for different timeframes.
Customization:
You can customize session timings, colors, and transparency levels through the input settings.
Support:
If you encounter any issues or need help optimizing the script for your specific needs, don't hesitate to contact me.
Enigma Endgame with Dynamic Trend-Based FibonacciThe Enigma Endgame script combines dynamic trend-based Fibonacci levels with the core principles of the ENIGMA strategy. It provides traders with actionable signals by identifying key levels of fractal support and resistance and highlighting opportunities to trade with market momentum. This tool is designed for multi-timeframe analysis and is especially effective during high-volatility sessions like London and New York.
Purpose and Usefulness
This script was developed to simplify complex market dynamics by integrating Fibonacci principles with ENIGMA's logic of fractal support and resistance. Traders can use it to:
- Identify key breakout and retracement levels dynamically.
- Understand the shift between support and resistance as price action evolves.
- Gain confidence in their entries with real-time signals derived from logical fractal behavior.
By merging Fibonacci levels with fractal-based trading insights, this script offers a unique and comprehensive approach to analyzing market structure.
How It Works
The script uses a dual approach to provide insights:
1. Dynamic Fibonacci Levels:
- Automatically plots Fibonacci retracement and extension levels based on recent high and low swings, adjusting dynamically to current market trends.
- Allows traders to visualize key levels where price might reverse or extend.
2. Fractal Support and Resistance Logic:
- The script identifies fractal support and resistance by analyzing candle formations.
- When a candle body closes below the low of a previous candle, the previous low, which was fractal support, now becomes fractal resistance. The script generates a bearish signal, encouraging traders to look for sell opportunities at or above the previous low.
- Conversely, when a candle body closes above the high of a previous candle, the previous high, which was fractal resistance, becomes fractal support. The script generates a bullish signal, encouraging traders to look for buy opportunities at or below the previous high.
Real-Time Signals
The script marks these transitions with arrows on the chart:
- Bearish arrows indicate broken fractal support turning into resistance.
- Bullish arrows** indicate broken fractal resistance turning into support.
These signals help traders stay aligned with the trend and trade with market momentum.
Key Features
1. Session-Based Analysis: Focuses on high-probability setups by allowing traders to customize session times, such as London or US sessions.
2. Multi-Timeframe Support: Works seamlessly across multiple timeframes for both scalpers and swing traders.
3. Real-Time Alerts: Sends customizable alerts when price interacts with critical Fibonacci levels or fractal support/resistance shifts.
How to Use the Script
1. Apply the script to a clean chart for clear visualization. Avoid combining it with other scripts unless necessary.
2. Use the arrows to identify shifts in fractal support and resistance and validate opportunities for buy/sell trades.
3. Monitor the dynamic Fibonacci levels to find confluence with key price areas.
4. Customize session times to focus on high-probability trading hours.
Key Notes for Traders
- This script provides insights based on logical market structure but should be used alongside proper risk management and trading plans.
- The fractal-based approach works well in conjunction with dynamic Fibonacci levels, helping traders build confidence in their strategy.
- Adapt the script settings to match your unique trading style and timeframe preferences.
By offering a seamless integration of fractal logic and Fibonacci principles, Enigma Endgame empowers traders with actionable insights to navigate markets effectively.
Candle Open Time labels (& TAPDA Lines)Description of the "4-Hour Candle Opening Times (TAPDA Lines)" Indicator
The "4-Hour Candle Opening Times (TAPDA Lines)" indicator integrates key principles of the Time and Price Action Trading Algorithm (TAPTA) with practical tools for analyzing market behavior. This script is designed for traders who leverage the interaction between time and price to identify opportunities in the market. The indicator supports the identification of significant price levels and potential areas of interest based on historical data and recurring patterns tied to specific timeframes.
Core Concepts
Time and Price Interaction (TAPTA Logic):
The script implements TAPTA principles by focusing on time intervals (4-hour candles) and the price action associated with those intervals.
Traders use this logic to recognize how prices behave at specific times, identifying patterns, levels of support or resistance, and potential reversals.
Highs and Lows Recognition (TAPDA):
The indicator includes logic for identifying and marking "Tapped Highs and Lows," which occur when price action retraces to previously significant levels within a specified tolerance. These taps are visually represented with horizontal lines, enabling traders to spot recurring price behaviors and levels of interest.
Dynamic Levels for Decision-Making:
By combining time and price, the script visualizes key price levels and their relevance over time, equipping traders with actionable insights for entry, exit, and risk management.
Indicator Features
1. Visual Representation of Candle Opening Times
The indicator marks the opening times of 4-hour candles on the chart.
A customizable label system displays the time in either a 12-hour or 24-hour format, with options to toggle the visibility of AM/PM suffixes.
2. TAPDA Logic
Identifies and highlights price levels that have been tapped within a specified tolerance.
Horizontal lines are drawn to mark these levels, allowing traders to see historical price levels acting as support or resistance.
The "Tapped Highs and Lows" are updated dynamically based on the most recent price action.
3. Timeframe-Specific Filtering
Users can limit the display to specific times of interest, such as 2 AM, 6 AM, and 10 AM, by toggling the "GCT (General Candle Times)" option.
Additional options allow filtering TAPDA logic by AM or PM timeframes, catering to traders who focus on specific market sessions.
4. Adjustable Plotting Limits
The script incorporates settings for controlling the maximum number of labels and lines displayed on the chart:
Max Labels: Limits the number of labels plotted for 4-hour candle opening times.
Max TAPDA Lines: Limits the number of TAPDA horizontal lines displayed.
A "Sync Lines and Labels" option ensures the same number of labels and lines are plotted when enabled, providing a consistent and clutter-free visualization.
5. Plot Maximum Capability
A "Plot Max" feature allows users to override the default behavior and force the plotting of the maximum allowed labels and lines, providing a comprehensive view of historical data.
6. User-Friendly Customization
Fully customizable label styles, including options for position, size, color, and background opacity.
Adjustable tolerance levels for TAPDA lines ensure compatibility with different market conditions and trading strategies.
Settings for flipping or aligning label positions above or below candles, or locking them to the opening price.
Script Logic
The script is built to prioritize efficiency and clarity, adhering to TradingView's Pine Script best practices and community standards:
Initialization:
Arrays are used to store historical price data, including highs, lows, and timestamps, ensuring only the necessary amount of data is processed.
A flexible and efficient data management system maintains a rolling window of data for both labels and TAPDA lines, ensuring smooth performance.
Label and Line Plotting:
Labels are plotted dynamically at user-defined positions and styles to mark the opening times of 4-hour candles.
TAPDA lines are drawn between historical high or low points and the current price action when the tolerance condition is met.
Limit Management:
The script enforces limits on the number of labels and lines plotted on the chart to maintain visual clarity.
Users can enable synchronization between the maximum labels and lines to ensure consistent visualization.
Customization Options:
Extensive customization settings allow traders to tailor the indicator to their strategies and preferences, including:
Label and line styles.
Session filtering (AM, PM, or specific times).
Display limits and synchronization options.
Capabilities
1. Enhance Time-Based Analysis
By marking significant times (4-hour candle openings), traders can identify key market phases and recurring behaviors tied to specific hours.
2. Leverage Historical Price Action
TAPDA logic highlights areas where price action interacts with historical highs and lows, providing actionable insights into potential support or resistance zones.
3. Improve Decision-Making
The indicator supports informed decision-making by blending visual data with time and price action principles, helping traders spot opportunities and mitigate risks.
4. Flexible Application Across Strategies
Suitable for day traders, swing traders, and position traders who utilize time and price action for trend analysis, reversals, or breakout strategies.
Best Practices for Use
Key Levels Analysis:
Focus on labels and TAPDA lines near critical price zones to gauge potential market reactions.
Session-Based Trading:
Use AM/PM filters or GCT settings to isolate specific trading sessions relevant to your strategy.
Combine with Other Indicators:
Enhance the effectiveness of this indicator by combining it with moving averages, RSI, or other tools for confirmation.
Risk Management:
Use the identified levels for stop-loss placement or target setting to align with your risk tolerance.
Judas Swing ICT 01 [TradingFinder] New York Midnight Opening M15🔵 Introduction
The Judas Swing (ICT Judas Swing) is a trading strategy developed by Michael Huddleston, also known as Inner Circle Trader (ICT). This strategy allows traders to identify fake market moves designed by smart money to deceive retail traders.
By concentrating on market structure, price action patterns, and liquidity flows, traders can align their trades with institutional movements and avoid common pitfalls. It is particularly useful in FOREX and stock markets, helping traders identify optimal entry and exit points while minimizing risks from false breakouts.
In today's volatile markets, understanding how smart money manipulates price action across sessions such as Asia, London, and New York is essential for success. The ICT Judas Swing strategy helps traders avoid common pitfalls by focusing on key movements during the opening time and range of each session, identifying breakouts and false breakouts.
By utilizing various time frames and improving risk management, this strategy enables traders to make more informed decisions and take advantage of significant market movements.
In the Judas Swing strategy, for a bullish setup, the price first touches the high of the 15-minute range of New York midnight and then the low. After that, the price returns upward, breaks the high, and if there’s a candlestick confirmation during the pullback, a buy signal is generated.
bearish setup, the price first touches the low of the range, then the high. With the price returning downward and breaking the low, if there’s a candlestick confirmation during the pullback to the low, a sell signal is generated.
🔵 How to Use
To effectively implement the Judas Swing strategy (ICT Judas Swing) in trading, traders must first identify the price range of the 15-minute window following New York midnight. This range, consisting of highs and lows, sets the stage for the upcoming movements in the London and New York sessions.
🟣 Bullish Setup
For a bullish setup, the price first moves to touch the high of the range, then the low, before returning upward to break the high. Following this, a pullback occurs, and if a valid candlestick confirmation (such as a reversal pattern) is observed, a buy signal is generated. This confirmation could indicate the presence of smart money supporting the bullish movement.
🟣 Bearish Setup
For a bearish setup, the process is the reverse. The price first touches the low of the range, then the high. Afterward, the price moves downward again and breaks the low. A pullback follows to the broken low, and if a bearish candlestick confirmation is seen, a sell signal is generated. This confirmation signals the continuation of the downward price movement.
Using the Judas Swing strategy enables traders to avoid fake breakouts and focus on strong market confirmations. The strategy is versatile, applying to FOREX, stocks, and other financial instruments, offering optimal trading opportunities through market structure analysis and time frame synchronization.
To execute this strategy successfully, traders must combine it with effective risk management techniques such as setting appropriate stop losses and employing optimal risk-to-reward ratios. While the Judas Swing is a powerful tool for predicting price movements, traders should remember that no strategy is entirely risk-free. Proper capital management remains a critical element of long-term success.
By mastering the ICT Judas Swing strategy, traders can better identify entry and exit points and avoid common traps from fake market movements, ultimately improving their trading performance.
🔵 Setting
Opening Range : High and Low identification time range.
Extend : The time span of the dashed line.
Permit : Signal emission time range.
🔵 Conclusion
The Judas Swing strategy (ICT Judas Swing) is a powerful tool in technical analysis that helps traders identify fake moves and align their trades with institutional actions, reducing risk and enhancing their ability to capitalize on market opportunities.
By leveraging key levels such as range highs and lows, fake breakouts, and candlestick confirmations, traders can enter trades with more precision. This strategy is applicable in forex, stocks, and other financial markets and, with proper risk management, can lead to consistent trading success.
PDL PWL [Dans]PDL PWL
Overview:
The PDL PWL indicator is a simple-designed for traders seeking to visualize key price levels derived from previous daily and weekly trading sessions. By incorporating significant price points such as Previous Day High (PDH), Previous Day Low (PDL), Previous Week High (PWH), and Previous Week Low (PWL), this indicator helps to make informed decisions based on historical price action.
Key Features:
Toggle Options:
Easily toggle the visibility of Previous Daily Levels and Previous Weekly Levels. This flexibility allows you to customize your chart according to your trading style and preferences.
Customizable Colors :
Personalize your chart by selecting colors for PDH, PDL, PWH, and PWL.
Equilibrium Levels:
The indicator calculates and displays equilibrium levels (EQ) for both daily and weekly levels.
Dynamic Updates:
The indicator automatically updates at 18:00 NY time, ensuring that you always have the latest previous high and low levels on your chart.
Daily Divider:
A daily divider line is drawn at the start of each trading day, helping you distinguish between trading sessions (daily) easily.
How to Use: Simply add the PDL PWL indicator to your chart, adjust the settings to fit your trading style, and observe how price interacts with the key levels.
Hope you will find this insightful !
Love,
Dans.
E9 ASIA Session
*note: Upon updating the script the conversion from V4 to v5 has lost the weekend extended lines and now prints an asia session for each day. It is recommended (esp for crypto) to extend these lines across the weekend like in the chart example above.
The E9 Asia Session Indicator is a valuable tool for traders aiming to track and analyze the Asia trading session on financial charts. This indicator provides insights into price behavior during the Asia session, which is crucial for making informed trading decisions. Here's an overview of its key functionalities and uses:
1. Session Highs and Lows
Purpose:
The indicator calculates and plots the high and low of the Asia session.
It helps identify key levels of support and resistance established during this trading period.
Importance:
These levels can act as significant reference points for future price movements.
Price action that occurs near these levels often provides clues about potential breakouts or reversals.
2. Session Background Color
Purpose:
The indicator can shade the background of the chart during the Asia session.
Importance:
This visual cue helps quickly identify the session's timeframe, enhancing the trader’s ability to observe price behavior within this specific period.
It aids in distinguishing between different trading sessions and understanding their influence on price action.
3. Start of Session Marker
Purpose:
A visual marker (such as a circle) is plotted at the beginning of each Asia session.
Importance:
This marker helps traders visually pinpoint the start of the session, making it easier to analyze how the price reacts from the session's opening.
4. End of Session Marker
Purpose:
A marker is plotted at the end of the Asia session, indicating where the session closes.
Importance:
This marker is useful for tracking the end of the session and observing price behavior around this critical juncture.
It helps in analyzing whether the session's high or low gets revisited or broken in subsequent sessions.
Practical Uses:
Strategic Planning: Traders can use the plotted high and low levels to set their trading strategies, stop-loss orders, and profit targets.
Market Analysis: Understanding how price interacts with the Asia session’s high and low levels can provide insights into market sentiment and potential price movements.
By incorporating the E9 Asia Session Indicator into your trading toolkit, you can gain a deeper understanding of the Asia session's impact on price dynamics, enhancing your overall trading strategy and decision-making process.
Disclaimer: The information contained in this article does not constitute financial advice or a solicitation to buy or sell any securities. All investments involve risk, and past performance does not guarantee future results. Always evaluate your financial circumstances and investment objectives before making trading decisions.
ICT Asian Range and KillzonesThis TradingView indicator highlights key trading sessions and their price ranges on a chart. It identifies the Asian Range and the Killzones for both the London Open and New York Open sessions. Here’s a brief breakdown:
Asian Range:
Defines the high and low price levels during the Asian trading session (between the specified start and end hours, default 00:00 to 04:00 UTC).
Plots horizontal lines to mark the highest and lowest prices reached during the Asian session.
Adds labels showing the values of these high and low points after the session ends.
London and New York Killzones:
Identifies the “Killzones” or key trading windows for the London Open (default 06:00 to 09:00 UTC) and the New York Open (default 11:00 to 14:00 UTC).
Tracks the high and low price levels within these windows and plots rectangles ("boxes") on the chart to visualize these ranges.
The boxes are color-coded and customizable, indicating potential areas of high market activity or volatility.
Customizable Visuals:
Users can adjust the colors, border widths, and other visual properties for better clarity and chart integration.
Sharpe and Sortino Ratios█ OVERVIEW
This indicator calculates the Sharpe and Sortino ratios using a chart symbol's periodic price returns, offering insights into the symbol's risk-adjusted performance. It features the option to calculate these ratios by comparing the periodic returns to a fixed annual rate of return or the returns from another selected symbol's context.
█ CONCEPTS
Returns, risk, and volatility
The return on an investment is the relative gain or loss over a period, often expressed as a percentage. Investment returns can originate from several sources, including capital gains, dividends, and interest income. Many investors seek the highest returns possible in the quest for profit. However, prudent investing and trading entails evaluating such returns against the associated risks (i.e., the uncertainty of returns and the potential for financial losses) for a clearer perspective on overall performance and sustainability.
The profitability of an investment typically comes at the cost of enduring market swings, noise, and general uncertainty. To navigate these turbulent waters, investors and portfolio managers often utilize volatility , a measure of the statistical dispersion of historical returns, as a foundational element in their risk assessments because it provides a tangible way to gauge the uncertainty in returns. High volatility suggests increased uncertainty and, consequently, higher risk, whereas low volatility suggests more stable returns with minimal fluctuations, implying lower risk. These concepts are integral components in several risk-adjusted performance metrics, including the Sharpe and Sortino ratios calculated by this indicator.
Risk-free rate
The risk-free rate represents the rate of return on a hypothetical investment carrying no risk of financial loss. This theoretical rate provides a benchmark for comparing the returns on a risky investment and evaluating whether its excess returns justify the risks. If an investment's returns are at or below the theoretical risk-free rate or the risk premium is below a desired amount, it may suggest that the returns do not compensate for the extra risk, which might be a call to reassess the investment.
Since the risk-free rate is a theoretical concept, investors often utilize proxies for the rate in practice, such as Treasury bills and other government bonds. Conventionally, analysts consider such instruments "risk-free" for a domestic holder, as they are a form of government obligation with a low perceived likelihood of default.
The average yield on short-term Treasury bills, influenced by economic conditions, monetary policies, and inflation expectations, has historically hovered around 2-3% over the long term. This range also aligns with central banks' inflation targets. As such, one may interpret a value within this range as a minimum proxy for the risk-free rate, as it may correspond to the minimum rate required to maintain purchasing power over time. This indicator uses a default value of 2% as the risk-free rate in its Sharpe and Sortino ratio calculations. Users can adjust this value from the "Risk-free rate of return" input in the "Settings/Inputs" tab.
Sharpe and Sortino ratios
The Sharpe and Sortino ratios are two of the most widely used metrics that offer insight into an investment's risk-adjusted performance . They provide a standardized framework to compare the effectiveness of investments relative to their perceived risks. These metrics can help investors determine whether the returns justify the risks taken to achieve them, promoting more informed investment decisions.
Both metrics measure risk-adjusted performance similarly. However, they have some differences in their formulas and their interpretation:
1. Sharpe ratio
The Sharpe ratio , developed by Nobel laureate William F. Sharpe, measures the performance of an investment compared to a theoretically risk-free asset, adjusted for the investment risk. The ratio uses the following formula:
Sharpe Ratio = (𝑅𝑎 − 𝑅𝑓) / 𝜎𝑎
Where:
• 𝑅𝑎 = Average return of the investment
• 𝑅𝑓 = Theoretical risk-free rate of return
• 𝜎𝑎 = Standard deviation of the investment's returns (volatility)
A higher Sharpe ratio indicates a more favorable risk-adjusted return, as it signifies that the investment produced higher excess returns per unit of increase in total perceived risk.
2. Sortino ratio
The Sortino ratio is a modified form of the Sharpe ratio that only considers downside volatility , i.e., the volatility of returns below the theoretical risk-free benchmark. Although it shares close similarities with the Sharpe ratio, it can produce very different values, especially when the returns do not have a symmetrical distribution, since it does not penalize upside and downside volatility equally. The ratio uses the following formula:
Sortino Ratio = (𝑅𝑎 − 𝑅𝑓) / 𝜎𝑑
Where:
• 𝑅𝑎 = Average return of the investment
• 𝑅𝑓 = Theoretical risk-free rate of return
• 𝜎𝑑 = Downside deviation (standard deviation of negative excess returns, or downside volatility)
The Sortino ratio offers an alternative perspective on an investment's return-generating efficiency since it does not consider upside volatility in its calculation. A higher Sortino ratio signifies that the investment produced higher excess returns per unit of increase in perceived downside risk.
The risk-free rate (𝑅𝑓) in the numerator of both ratio formulas acts as a baseline for comparing an investment's performance to a theoretical risk-free alternative. By subtracting the risk-free rate from the expected return (𝑅𝑎−𝑅𝑓), the numerator essentially represents the risk premium of the investment.
Comparison with another symbol
In addition to the conventional Sharpe and Sortino ratios, which compare an instrument's returns to a risk-free rate, this indicator can also compare returns to a user-specified benchmark symbol , allowing the calculation of Information ratios .
An Information ratio is a generalized form of the Sharpe ratio that compares an investment's returns to a risky benchmark , such as SPY, rather than a risk-free rate. It measures the investment's active return (the difference between its returns and the benchmark returns) relative to its tracking error (i.e., the volatility of the active return) using the following formula:
𝐼𝑅 = (𝑅𝑝 − 𝑅𝑏) / 𝑇𝐸
Where:
• 𝑅𝑝 = Average return on the portfolio or investment
• 𝑅𝑏 = Average return from the benchmark instrument
• 𝑇𝐸 = Tracking error (volatility of 𝑅𝑝 − 𝑅𝑏)
Comparing returns to a benchmark instrument rather than a theoretical risk-free rate offers unique insights into risk-adjusted performance. Higher Information ratios signify that the investment produced higher active returns per unit of increase in risk relative to the benchmark. Conventional choices for non-risk-free benchmarks include major composite indices like the S&P 500 and DJIA, as the resulting ratios can provide insight into the effectiveness of an investment relative to the broader market.
Users can enable this generalized calculation for both the Sharpe and Sortino ratios by selecting the "Benchmark symbol returns" option from the "Benchmark type" dropdown in the "Settings/Inputs" tab.
It's crucial to note that this indicator compares the charts symbol's rate of change (return) to the rate of change in the benchmark symbol. Consequently, not all symbols available on TradingView are suitable for use with these ratios due to the nature of what their values represent. For instance, using a bond as a benchmark will produce distorted results since each bar's values represent yields rather than prices, meaning it compares the rate of change in the yield. To maintain consistency and relevance in the calculated ratios, ensure the values from the compared symbols strictly represent price information.
█ FEATURES
This indicator provides traders with two widely used metrics for assessing risk-adjusted performance, generalized to allow users to compare the chart symbol's price returns to a fixed risk-free rate or the returns from another risky symbol. Below are the key features of this indicator:
Timeframe selection
The "Returns timeframe" input determines the timeframe of the calculated price returns. Users can select any value greater than or equal to the chart's timeframe. The default timeframe is "1M".
Periodic returns tracking
This indicator compounds and collects requested price returns from the selected timeframe over monthly or daily periods, similar to how the Broker Emulator works when calculating strategy performance metrics on trade data. It employs the following logic:
• Track returns over monthly periods if the chart's data spans at least two months.
• Track returns over daily periods if the chart's data spans at least two days but not two months.
• Do not track or collect returns if the data spans less than two days, as the amount of data is insufficient for meaningful ratio calculations.
The indicator uses the returns collected from up to a specified number of periods to calculate the Sharpe and Sortino ratios, depending on the available historical data. It also uses these periodic returns to calculate the average returns it displays in the Data Window.
Users can control the maximum number of periods the indicator analyzes with the "Max no. of periods used" input in the "Settings/Inputs" tab. The default value is 60 periods.
Benchmark specification
The "Benchmark return type" input specifies the benchmark type the indicator compares to the chart symbol's returns in the ratio calculations. It features the following two options:
• "Risk-free rate of return (%)": Compares the price returns to a user-specified annual rate of return representing a theoretical risk-free rate (e.g., 2%).
• "Benchmark symbol return": Compares the price returns to a selected benchmark symbol (e.g., "AMEX:SPY) to calculate Information ratios.
When comparing a chart symbol's returns to a specified benchmark symbol, this indicator aligns the times of data points from the benchmark with the times of data points from the chart's symbol to facilitate a fair comparison between symbols with different active sessions.
Visualization and display
• The indicator displays the periodic returns requested from the specified "Returns timeframe" in a separate pane. The plot includes dynamic colors to signify positive and negative returns.
• When the "Returns timeframe" value represents a higher timeframe, the indicator displays background highlights on the main chart pane to signify when a new value is available and whether the return is positive or negative.
• When the specified benchmark return type is a benchmark symbol, the indicator displays the requested symbol's returns in the separate pane as a gray line for visual comparison.
• Within the separate pane, the indicator displays a single-cell table that shows the base period it uses for periodic returns, the number of periods it uses in the calculation, the timeframe of the requested data, and the calculated Sharpe and Sortino ratios.
• The Data Window displays the chart symbol and benchmark returns, their periodic averages, and the Sharpe and Sortino ratios.
█ FOR Pine Script™ CODERS
• This script utilizes the functions from our RiskMetrics library to determine the size of the periods, calculate and collect periodic returns, and compute the Sharpe and Sortino ratios.
• The `getAlignedPrices()` function in this script requests price data for the chart's symbol and a benchmark symbol with consistent time alignment by utilizing spread symbols , which helps facilitate a fair comparison between different symbol types. Retrieving prices from spreads avoids potential information loss and data misalignment that can otherwise occur when using separate requests from each symbol's context when those symbols have different sessions or data times.
• For consistency, the `getAlignedPrices()` function includes extended hours and dividend adjustment modifiers in its data requests. Additionally, it includes other settings inherited from the chart's context, such as "settlement-as-close" preferences for fair comparison between futures instruments.
• This script uses the `changePercent()` function from our ta library to calculate the percentage changes of the requested data.
• The newly released `force_overlay` parameter in display-related functions allows indicators to display visuals on the main chart and a separate pane simultaneously. We use the parameter in this script's bgcolor() call to display background highlights on the main chart.
Look first. Then leap.
HTF Matrix TableThis is a Higher Time Frame Table like the Intra-Day Table that I also have available.
ICT stresses time and liquidity levels in his teachings. This table helps to easily locate these key Time-based price levels. You can use these levels to determine your directional bias and to help generate your narrative for where the market is going.
This indicator creates a table that gives you the price for the following liquidity levels:
*Price* - Current Price
PMH - Previous Month High
PMO - Previous Month Open
PM MT - Previous Month Mean Threshold (Midpoint of candle body)
(Calculated by:
if pmo > pmc
pm_mt := ((pmo-pmc)/2)+pmc
if pmo < pmc
pm_mt := ((pmc-pmo)/2)+pmo)
PMC - Previous Month Close
PML - Previous Month Low
PWH - Previous Week High
PWO - Previous Week Open
PW MT - Previous Week Mean Threshold (Midpoint of candle body)
Calculated by:
if pwo > pwc
pw_mt := ((pwo-pwc)/2)+pwc
if pwo < pwc
pw_mt := ((pwc-pwo)/2)+pwo)
PWC - Previous Week Close
PWL - Previous Week Low
PDO - Previous Day Open
PDH - Previous Day High
PDL - Previous Day Low
PDC - Previous Day Close
PDEQ - Equilibrium of the previous day's range.
(Calculated by math.abs(((pdh-pdl)/2)+pdl))
PDH2 - Two Days Back High
PDL2 - Two Days Back Low
PDH3 - Three Days Back High
PDL3 - Three Days Back Low
Gives you the opening price for the following times:
Midnight Open
NY Open
Lets you set the time for the Asia and London sessions and will give the high and low for those two sessions.
Asia High
Asia Low
London High
London Low
Ability to hide either the table or lines.
The levels are sorted descending in price in the table, with the background colored based on their relation to price. The prices are also plotted on the chart based on the range you specify in relation to the current price. These lines are also colored based on their relation to price.
This indicator does not give you anything but the price at a specific time, you must determine your own bias and narrative based on the levels that are given.
The indicator runs on the seconds chart.
HT: Intraday LevelsIndicator draws several most important intraday levels: last day RTH high/low, ETH high/low, Half Back, Day Close and current day RTH Day Open. These levels often act as support/resistance for intraday price movements. Also, they can help to assess day character and control of power.
Indicator can be used for ETH + RTH sessions.
Important notes:
• User must specify RTH session time, appropriate for his time zone and exchange
• Half-back is calculated as a middle line between RTH High and Low.
• Day Close is always equal to close of the last bar of the previous day
• RTH Day Open will be redrawn for the current day as soon as it is known (after RTH session opens and at least one bar gets confirmed).
Known issues:
• Day open will not be shown if there is no bar, clearly corresponding to RTH open time (e.g. if 4h timeframe is selected)
• For some ETH sessions it is not possible to determine session’s last bar (this is pine script limitation) until next day trading starts. This means that daily levels will be also update with only then.
Parameters:
Date – user can select date, for which levels will be plotted. Works only if “Use” check box is on. Otherwise, levels will be plotted for the last day. (“time” value doesn’t matter; unfortunately, there is no way to hide the input box)
RTH Open/Close time – it is important to specify time, appropriate for your time zone.
Time zone – your chart time zone (as UTC offset)
Visuals – controls visibility and colors
Script is published as an open source. It uses two libraries: Levels Lib and Functions Lib. First one demonstrates how to work with pine-script object model and arrays. You can also reuse it in your custom scripts where there is need to construct any support/resistance levels. The second library contains some useful functions for working with time and dates.
Disclaimer
This indicator should not be used as a standalone tool to make trading decisions but only in conjunction with other technical analysis methods.
Time Relative Volume Oscillator | Flux Charts💎 GENERAL OVERVIEW
The relative volume indicator aims to improve upon the default existing relative volume indicator by comparing volumes between previous trading sessions rather than previous candles. As such, it works best on lower time frames as there is more data to compare with. The purpose of the indicator is to show how the current bar’s volume compares to the volume at the same time on previous trading days.
There exists a couple different modes and combinations that each provide a different perspective on the trading volume.
Oscillator mode
Oscillator mode starts with the same relative volume calculation, but adds two EMAs of different lengths that diverge and converge. Like the MACD, it plots the difference as a histogram. This functions as an easy way to view when relative volume is increasing or decreasing.
How to use:
The oscillator oscillates between -1 and 1. It moves along with volume direction, so this mode can be used to view the current volume direction in a lagging fashion. In oscillating markets, this indicator can give an idea of how buy/sell volume is moving and where it currently stands. Small arrows mark where reversals are predicted, when the histogram crosses over 0. The biggest pitfall of this mode is that, in a straight trending market, the two EMAs converge and it gives a false reversal signal.
Delta mode
Delta volume mode is a step up from the buy/sell volume mode. It separates both sides into the top and bottom, while also displaying the actual volume behind it in a semi transparent overlay. The best feature, however, is the delta oscillator. This oscillator fluctuates depending on how buy/sell volume is changing and plots bullish/bearish labels when the dominant side (bullish/bearish) changes. The signals, while a bit common, can sometimes dictate large direction changes, started by a dominant volume switch.
On top of different display modes, there is also one more volume mode: buy/sell volume. Instead of only showing the total volume and relative volume, it calculates and separates buying and selling volume.
This volume mode displays differently in all three viewing modes, but the basic principle is the same. It adds a vital piece of information to the chart without adding clutter. The calculation for buy/sell volume uses the candle wicks and body to compare bullish and bearish movement.
Classic mode
Classic mode takes the default volume indicator and improves upon it by also displaying the relative volume on top of the actual volume. Relative volume is calculated similarly between the three display modes: simply by comparing the current bar’s volume to the volume at the same time during previous trading days. Classic mode displays this “relative volume” as well as a simple EMA over top of the actual trading volume.
Originality
The script improves upon the existing relative volume indicator by using previous trading days rather than previous candles to generate the relative volume. On top of that, the calculation methods are unique, using different formulas like variations of the sigmoid function to smooth noise. The main issue this script aims to fix is that towards the start or end of the day relative volume indicators all see spikes as volume grows into close. The new relative volume calculations fix this problem and show what the “true” relative volume is because they compare the current bar to the “same” bar on previous trading sessions.
Intraday Volume Rating [Honestcowboy]The Intraday Volume Rating aims to provide a clearer picture of what volume is telling you on intraday charts.
What is different to other forms of volume analysis
While Volume averages and other measures of volume base their calculations on the previous bars on the chart (for example bars 1954 to 1968). The average volume in this indicator measures expected volume during that time of the day.
🔷 Why would you take this approach?
Markets behave different during certain times of the day, also called sessions.
Here are a couple examples.
Asian Session (generally low volatility)
London Session (bigger volatility starts)
New York Session (overlap of New York with London creates huge volatility)
Generally when using other types of volume averaging it does not take into account these sessions and that the market has a pattern for volume in an intraday chart.
🔷 CALCULATION
Think of this script like an average of volume but instead it uses past days data instead of previous bars data.
This is a chart explaining the indicator this script is based on The same principle applies but instead we measure volume at each bar of the day.
The script also counts the number of bars that exist in a day on your current timeframe chart. After knowing that number it creates the matrix used in it's calculations and data storage.
See how it works perfectly on a lower timeframe chart below:
Getting this right was the hardest part, check the coding if you are interested in this type of stuff. I commented every step in the coding process.
Every setting of the script is commented so no need for further explanation, enjoy!
Take Session High/Low Alert [MsF]Japanese below / 日本語説明は英文の後にあります。
-------------------------
This indicator that displays High/Low lines for each session. The Key Levels of each session can be visually recognized, which is useful for PD Array analysis. You can display the last 3 days. Based on trinity by ICT.
The biggest feature is that the color shape of the line changes when reaching High/Low. Of course, you can also set alerts.
Unreached High/Low lines can be extended to the right. hides all timeframes over 1 hour. (alert is alive)
You can choose 4 sessions. If you only want to use 3 sessions, you can do that by setting the same session time for 2 of the 4 session settings.
About Parameter Settings
Session Time: Please set it to be a 24-hour cycle. You can also specify the time zone. The default is NY time.
Basis/Other color: The first time specified in "Session Time" in this indicator's parameter is the "Basis color". "Other color" is a line other than that.
Enable Time Lines: You can turn on/off the display of vertical lines.
High/Low color: High/Low line setting that has not been reached.
Taken color: High/Low line setting that has already been reached.
Extend Lines: Allows unreached High/Low lines to be extended to the right in the chart.
-------------------------
セッションごとのHigh/Lowをライン表示するインジケーターです。
過去約３日分を表示することができます。
最大の特徴はHigh/Low到達時にラインの色形が変わることです。もちろんアラート設定も可能です。
未到達のHigh/Lowラインは右側に延長することができます。
チャート表示がビジーとなる為、1時間を超える時間足ではすべて非表示とする仕様です。（アラートは生きてます）
セッションは4つ指定できます。
もしセッションを3つのみ使用したい場合は、4つのセッション設定の内2つに同じセッション時間を設定することで実現可能です。
■パラメータ設定
Session Time：24時間周期となるように設定してください。またタイムゾーンが指定できます。デフォルトはNY timeです。
Basis/Other color：パラメータの"Session Time"にて一番最初に指定した時間が基準＝Basisとなります。Otherはそれ以外のラインとなります。
Enable Time Lines：垂直ラインの表示ON/OFFが可能です。
High/Low color：未到達のHigh/Lowライン設定となります。
Taken color：到達済みのHigh/Lowライン設定となります。
Extend Lines：未到達のHigh/Lowラインを右に延長できます。
SMT - Smart Money Thursday Boxes
The Smart Money Trading Thursday - is a very specific trading system. You only trade it on a Thursday.
The script/indicator will color Thursdays as two boxes. If you just want one color, use same color for
both boxes. The boxes is there to indicate London/New York sessions.
SETTINGS
In the setting you find a numeric value as 1700-0400:5
The "5" indicate Thursday. You can change that if you prefer to color another specific day.
For example "4" would indicate Wednesday. And you can change the hours to fit your
sessions and trading style.
You can also use the 2 boxes on different days. If you for example would like to color up
London for Wednesday and Thursday. Then set hours to fit London session and adjust the
:5 to 4 on the 1st box and 5 on the 2nd.
HOW TO USE IT?
The Smart Money works in a way retail trading does not. Smart Money has an objective
to locate retail patterns, where there will be a lot of stop loss volume to be grabbed.
So when a retail trader see a setup like a "Double Top / Bottom". The Institutional
will see $$$ of dumb money, ready to be taken. The best moves happen on a Thursday
but if you are a skilled trader, you can see the move also occur on Wednesday or Friday.
The first thing that will happen, is that the Smart Money Breaks out of session. Meaning
they will leave the current weeks high/low range. To start collect negative contracts
of the retail volume.
When you see that happen. And you see a breakout that consist of 4 in a row 1 hour
chart candles. Then you have your first rule meet.
#1 Thursday breakout of current weeks high/low. And the move is a clean 4 hour move
as 4x H1 candles. The move can start within range. But must end clearly outside.
Visual Example:
#2 Next, we await an engulf at peak or near peak. That is where Institutional
may have problem to match any more contracts, and since they used their own
money to make this move. They must now mitigate orders, and return back to
the original retail pattern as most retail traders are now stopped out.
(Normally this is a long/clear candle out of range. they rarely go lower
then retail traders entry in the 1st push. This to not save any souls :)
#3 Price returns back to where the breakout from the retail happens.
You can now take your profit as a Smart Money Trader. Trading with less risk,
you can take profit of the return of that latest 4x H1 candle move. (Order
Block)
CONCLUSION
The best trade is when you can combine a retail pattern, followed by a
breakout which holds 4x 1 hour candles in the outbreak direction.
2nd best is when you have the 4x H1 breakout and really no clear retail
pattern. Still is the same game. Just not as clear as the one above.
Study the steps in this image and you see what to look after:
Good Luck with your trading!
Regards,
The Hunter Trading Group
Volume by SessionThis indicator shows volume separated by session. The aim is clarify which session a volume bar occurred in and how it compares to the average of that session - NOT ALL SESSIONS.
The logic is that there is little value comparing for example the volume of the London session against volume of the London-NY session - the London-NY will always have higher volume. But how does today's london compare to yesterdays london or the london average.
The indicator has moving averages that only consider the average of previous episodes of the same session - so the average on the london session is the average of the past 5 london sessions (NY and asia and London-NY are not included in the calculation of the MA).
The indicator goes as high as 1H timeframe and the average line does not function below 5 mins - thats a limitation on available data to calculate it.
There's also a 'dark screen' function. Thats because I like a black background so the colours need to be inverted.
Hope its useful. Good luck.
John
S&P Merval Index Volume Indicator (Shares, ARS, U$S CCL GGAL)S&P Merval Index Volume Indicator (Shares, ARS, U$S CCL GGAL)
◾ This indicator reflects a close estimate of the traded volume in the S&P Merval Index BCBA:IMV for nominal shares, traded money in ARS & USD using a financial FX rate.
◾ The constituents of the index "must meet minimum size and liquidity requirements" as it is been declared by S&P Dow Jones Indexes. On this version of the indicator were reflected the current set of stocks for the Index as of Monday, July 27, 2020 for actual and historical sessions.
◾ Eventually, there could be changes in consitutents as per the S&P Dow Jones Indexes classification and re-balance that will be reflected on this script or a new one.
◾ Aggregated volume of nominal shares for each of the stocks constitutents is multiplied by their closing prices to estimates the effective volume in ARS & adjusted by the FX rate with "Contado con Liquidación" FX rate closing session price.
◾ It serves as a dynamical volume indicator available for standard and customized timeframes. Provides an assertive look over trading activity which allows the analyst to measure effectively either resistance or support zones in Bull / Flat or Bear markets.
◾ Output of 10 trading days of effective volume was cross-checked with "IAMC Informe diario" www.iamc.com.ar the official daily report by the exchange ByMA (Bolsas y Mercados de Argentina).
1) Trading Sessions Dates
7/27/20; 7/23/20; 7/22/20; 7/21/20; 7/20/20; 7/16/20; 7/15/20; 7/14/20; 7/13/20
2) IAMC Informe Diario S&P Merval Index Effective volume (ARS) for each of 1)
$1309.4M; $1999.3M; $1691.1M; $1585.6M; $949.7M; $818.6M; $1010.4M; $962.3M; $1515.7M
3) Pine indicator S&P Merval Index Effective volume (ARS) for each 1)
$1294.6M; $1911.7M; $1691.3M; $1526.6M; $901.4M; $796.7M; $961.9M; $939.7M; $1404.7 M
4) Variance 3) | 2)
-1%; -4%; 0%; -4%; -5%; -3%; -5%; -2%; -7%
Average Deviation: -4%
Standard Deviation: 2%
* This quick analysis depicts that effective volume displayed may (or not) have a non significance variance over the real data reported by the National Exchange due to the script calculation.
* Thanks to Alan who helped me a lot with the code!
BB and RSI Indicator Alert v0.3 by JustUncleLI have just recently revised this indicator alert for public release. This is for the 60sec Bollinger Band break Binary Option traders.
This indicator alert is a variation of one found in a well known Broker's marketing videos. It uses Bollinger bands, RSI and moving averages. Included is a pre-warning alert condition. The strategy and settings are designed for 1min charts and Binary Options, but it could work for up to 15 min charts.
The default settings are BB(14,2) and RSI(11) with 75/25 Levels boundaries. To be a valid trade the RSI needs to be within 75/25 channel. The optional Market direction filter is enabled by default and is calculated by two EMA (200 and 50):
When 200ema rising and 50ema above 200ema then market going up.
When 200ema falling and 50ema below 200ema then market going down.
A potential Bollinger Break reversal trades identified by shapes: The purple diamond is the pre-warning purple alert and the green and red pointers with the PUT/CALL labels are the trade alerts. Make Binary Option trade in specified direction 60sec (or can also use 120sec trade without Martingale).
* Notes and Hints *
The original videos specified a Martingale money management strategy, be careful using this management. When I use Martingale I recommend go to 3 levels: 10, 25, 65 if no win at 65 stop trading this alert and start next alert back at 10, you should recovery loss by future wins given you are able to get a reasonable ITM rate with this strategy. Alternatively instead of using Martingale use 120sec Binary Option trade.
Be wary of break alerts on a steep Bollinger, they tend to keep running away for awhile, especially if steep on both sides of Bollinger channel.
As with most of this style of indicator the alert conditions will redraw until the candle is closed. For me this is okay, as it is an Alert is only to a potential trade and final decision to trade is made by me.
You need to practise this and be aware of market news, sessions boundaries, slow trading periods etc. Plan your periods of when you should trade, I prefer Asian session before lunch and London sessions.
Unmitigated MTF High Low Pro - Cave Diving Bookmap Heatmap Plot
Unmitigated MTF High Low Pro - Cave Diving Bookmap Heatmap Plot
---
## 📖 Table of Contents
1. (#what-this-indicator-does)
2. (#core-concepts)
3. (#visual-components)
4. (#the-cave-diving-framework)
5. (#how-to-use-it-for-trading)
6. (#settings--customization)
7. (#best-practices)
8. (#common-scenarios)
---
## What This Indicator Does
The **Unmitigated MTF High Low v2.0** tracks unmitigated (untouch) high and low levels across multiple timeframes, helping you identify key support and resistance zones that the market hasn't revisited yet. Think of it as a sophisticated memory system for price action - it remembers where price has been, and more importantly, where it *hasn't been back to*.
### Why "Unmitigated" Matters
In futures trading, especially on instruments like NQ and ES, the market has a tendency to revisit levels where liquidity was left behind. An "unmitigated" level is one that hasn't been touched since it was formed. These levels often act as magnets for price, and understanding their age and proximity gives you a significant edge in:
- **Entry timing** - Waiting for price to approach tested levels
- **Exit planning** - Taking profits before ancient resistance/support
- **Risk management** - Avoiding entries when approaching multiple old levels
- **Liquidity mapping** - Visualizing where orders likely cluster
---
## Core Concepts
### 1. **Sessions & Age**
The indicator uses **New York trading sessions** (6:00 PM to 5:59 PM NY time) as the primary time measurement. This aligns with how futures markets naturally segment their activity.
**Age Categories:**
- 🟢 **New (0-1 sessions)** - Fresh levels, recently formed
- 🟡 **Medium (2-3 sessions)** - Tested by time, gaining significance
- 🔴 **Old (4-6 sessions)** - Highly significant, survived multiple days
- 🟣 **Ancient (7+ sessions)** - Extreme significance, major support/resistance
The longer a level remains unmitigated, the more significant it becomes. Think of it like compound interest - time adds weight to these zones.
### 2. **Multi-Timeframe Tracking**
You can set the indicator to track high/low levels from any timeframe (default is 15 minutes). This means you're watching for unmitigated 15-minute highs and lows while trading on, say, a 1-minute or 5-minute chart.
**Why this matters:**
- Higher timeframe levels have more weight
- You can see multiple timeframe structure simultaneously
- Helps you avoid fighting larger timeframe momentum
### 3. **Mitigation**
A level becomes "mitigated" (deactivated) when price touches it:
- **High levels** are mitigated when price reaches or exceeds them
- **Low levels** are mitigated when price reaches or goes below them
Once mitigated, the level disappears from view. The indicator only shows you the untouch levels that still matter.
---
## Visual Components
### 📊 The Dashboard Table
Located in the corner of your chart (configurable), the table shows:
```
┌─────────┬───────────┬────────┬─────┬───────┐
│ Level │ Price │ Points │ Age │ % │
├─────────┼───────────┼────────┼─────┼───────┤
│ ↑↑↑↑↑ │ 21,450.25 │ +45.50 │ 8 │ +0.21%│ ← 5th High (Ancient)
│ ↑↑↑↑ │ 21,430.00 │ +25.25 │ 5 │ +0.12%│ ← 4th High (Old)
│ ↑↑↑ │ 21,420.50 │ +15.75 │ 3 │ +0.07%│ ← 3rd High (Medium)
│ ↑↑ │ 21,412.00 │ +7.25 │ 1 │ +0.03%│ ← 2nd High (New)
│ ↑ ⚠️ │ 21,408.25 │ +3.50 │ 0 │ +0.02%│ ← 1st High (Proximity Alert!)
├─────────┼───────────┼────────┼─────┼───────┤
│ 15 mins │ 🟢 │ Δ 8.75 │ 2U │ │ ← Status Row
├─────────┼───────────┼────────┼─────┼───────┤
│ ↓ ⚠️ │ 21,399.50 │ -5.25 │ 0 │ -0.02%│ ← 1st Low (Proximity Alert!)
│ ↓↓ │ 21,395.00 │ -9.75 │ 2 │ -0.05%│ ← 2nd Low (Medium)
│ ↓↓↓ │ 21,385.25 │ -19.50 │ 4 │ -0.09%│ ← 3rd Low (Old)
│ ↓↓↓↓ │ 21,370.00 │ -34.75 │ 6 │ -0.16%│ ← 4th Low (Old)
│ ↓↓↓↓↓ │ 21,350.75 │ -54.00 │ 9 │ -0.25%│ ← 5th Low (Ancient)
├─────────┼───────────┼────────┼─────┼───────┤
│ 📊 15↑ / 12↓ │ ← Statistics (optional)
└─────────┴───────────┴────────┴─────┴───────┘
```
**Reading the Table:**
- **Level Column**: Number of arrows indicates position (1-5), color shows age
- **Price**: The actual price level
- **Points**: Distance from current price (+ for highs, - for lows)
- **Age**: Number of full sessions since creation
- **%**: Percentage distance from current price
- **⚠️**: Proximity alert - price is within threshold distance
- **Status Row**: Shows timeframe, direction (🟢 bullish/🔴 bearish), tunnel width (Δ), and Strat pattern
### 📈 Visual Elements on Chart
**1. Level Lines**
- Horizontal lines showing each unmitigated level
- **Color-coded by age**: Bright colors = new, darker = older, deep purple/teal = ancient
- **Line style**: Customizable (solid, dashed, dotted)
- Automatically turn **yellow** when price gets close (proximity alert)
**2. Price Labels**
- Show the exact price and age: "21,450.25 (8d)"
- Fixed at small size for clean readability
- Positioned with configurable offset from current bar
**3. Bands (Optional)**
- Shaded zones between pairs of unmitigated levels
- Default: Between 1st and 2nd levels (the "tunnel")
- Can switch to 1st-3rd, 2nd-3rd, or disable entirely
- **Upper band** (pink/maroon) - Between unmitigated highs
- **Lower band** (blue/teal) - Between unmitigated lows
- These represent the "no man's land" or consolidation zones
---
## The Cave Diving Framework
This indicator is designed around the **Cave Diving Trading Framework** - a psychological and technical approach that maps cave diving safety protocols to futures trading risk management.
### 🤿 The Core Metaphor
**Cave diving has clear danger zones based on depth and overhead environment. Your trading should too.**
#### Shallow Water (New Levels, 0-1 Sessions)
- **Light**: Bright colors (bright red highs, bright green lows)
- **Psychology**: Fresh territory, recently tested
- **Trading**: Be aware but not overly concerned
- **Cave Diving Parallel**: You can see the surface, easy exit
#### Penetration Depth (Medium Levels, 2-3 Sessions)
- **Light**: Medium intensity colors
- **Psychology**: Building significance, market memory forming
- **Trading**: Start respecting these levels for entries/exits
- **Cave Diving Parallel**: Deeper in, need to track your line back
#### Deep Dive Zone (Old Levels, 4-6 Sessions)
- **Light**: Dark colors (deep maroon, dark blue)
- **Psychology**: Highly tested support/resistance
- **Trading**: Major decision points, plan accordingly
- **Cave Diving Parallel**: Significant overhead, careful navigation required
#### Overhead Environment (Ancient Levels, 7+ Sessions)
- **Light**: Very dark, purple/deep teal
- **Psychology**: Extreme caution required, major liquidity zones
- **Trading**: These are your "turn back" signals - don't fight ancient levels
- **Cave Diving Parallel**: Maximum danger, no room for error
### 🎯 The Proximity Alert System
Just like a cave diver's depth gauge that warns at critical thresholds, the proximity alerts (⚠️) tell you when you're entering a danger zone. When price gets within your configured threshold (default 5 points), the indicator:
- Highlights the level in **yellow** on the chart
- Shows **⚠️** in the table
- Signals: "You're entering a high-significance zone - adjust your position accordingly"
This prevents the trading equivalent of going deeper into a cave without checking your air supply.
---
## How to Use It for Trading
### 🎯 Entry Strategies
**1. The "Bounce Setup" (Mean Reversion)**
- Wait for price to approach an old or ancient unmitigated level
- Look for confluence: multiple levels nearby, bands narrowing
- Enter when price shows rejection (reversal candle patterns)
- **Example**: Price drops to a 6-session-old low, shows bullish engulfing → Long entry
**2. The "Break and Retest" (Trend Following)**
- Wait for price to break through an unmitigated level (mitigates it)
- Enter on the retest of the newly broken level
- **Example**: Price breaks above 4-session-old high → Wait for pullback to that level → Long entry
**3. The "Tunnel Trade" (Range Trading)**
- When bands are active, trade the range between 1st-2nd levels
- Short near upper band resistance, long near lower band support
- Exit at opposite side or when bands break
### 🚨 Risk Management Rules
**The Ancient Level Rule**
> Never fight ancient levels (7+ sessions). If you're long and approaching an ancient high, take profits. If you're short and approaching an ancient low, take profits.
These levels have survived a full trading week without being touched - there's likely significant liquidity and institutional interest there.
**The Proximity Exit Rule**
> When you see ⚠️ proximity alerts on multiple levels above/below your position, tighten stops or scale out.
This is your "overhead environment" warning. You're in dangerous territory.
**The New Level Filter**
> Be cautious taking positions based solely on new levels (0-1 sessions). Wait for them to age or combine with other confluence.
Fresh levels haven't been tested by time. They're like unconfirmed support/resistance.
### 📊 Reading Market Structure
**Bullish Structure (🟢 in status row)**
- Unmitigated lows are aging and holding
- Price respecting the lower band
- Old lows below acting as strong support
- **Bias**: Look for long entries at lower levels
**Bearish Structure (🔴 in status row)**
- Unmitigated highs are aging and holding
- Price respecting the upper band
- Old highs above acting as strong resistance
- **Bias**: Look for short entries at higher levels
**The Tunnel Compression**
- When the Δ (delta) in the status row is small, levels are tight
- This often precedes a breakout
- **Trading**: Wait for breakout direction, then trade the break
### 🔄 Strat Integration
The indicator shows Strat patterns in the status row:
- **1** - Inside bar (consolidation)
- **2U** - Broke high only (bullish)
- **2D** - Broke low only (bearish)
- **3** - Broke both (wide range, volatility)
Use these with the unmitigated levels:
- **2U near old high** → Potential resistance, watch for rejection
- **2D near old low** → Potential support, watch for bounce
- **3 pattern** → High volatility, respect wider stops
---
## Settings & Customization
### 📅 Session & Timeframe Settings
**HL Interval** (Default: 15 minutes)
- The timeframe for high/low calculation
- **Lower (1m, 5m)**: More levels, more noise, good for scalping
- **Higher (30m, 1H, 4H)**: Fewer levels, stronger significance, good for swing trading
- **Recommendation for NQ/ES**: 15m or 30m for day trading, 1H for swing trading
**Session Age Threshold** (Default: 2)
- How many sessions before a level is considered "old"
- Lower = more levels classified as old
- Higher = stricter definition of significance
### 📊 Level Display Options
**Show Level Lines**
- Toggle: Display horizontal lines for each level
- **Turn off** if you prefer a cleaner chart and only want the table
**Show Level Labels**
- Toggle: Display price labels on the chart
- **Turn off** for minimal visual clutter
**Label Offset**
- Distance (in bars) from current price bar to place labels
- Increase if labels overlap with price action
**Level Line Width & Style**
- Customize visual appearance
- **Thin solid**: Minimal distraction
- **Thick dashed**: High visibility
### 🎨 Age-Based Color Coding
Customize colors for each age category (high and low separately):
- **New (0-1 sessions)**: Default bright red/green
- **Medium (2-3 sessions)**: Default medium intensity
- **Old (4+ sessions)**: Default dark red/blue
- **Ancient (7+ sessions)**: Default deep purple/teal
**Color Strategy Tips:**
- Keep ancient levels in highly contrasting colors
- Use opacity (transparency) if you want subtler lines
- Match your chart's color scheme for aesthetic coherence
### 🎯 Band Settings
**Band Mode**
- **1st-2nd** (Default): The primary "tunnel" between most recent levels
- **1st-3rd**: Wider band, more room for price action
- **2nd-3rd**: Band between less immediate levels
- **Disabled**: No bands, lines only
**Band Colors & Borders**
- Customize fill color and border separately
- **Tip**: Keep bands very transparent (90-95% transparency) to avoid obscuring price action
### ⚠️ Proximity Alert Settings
**Enable Proximity Alerts**
- Toggle: Turn on/off the warning system
- When enabled, levels within threshold distance show ⚠️ and turn yellow
**Alert Threshold** (Default: 5.0 points)
- Distance in points to trigger the alert
- **For NQ**: 5-10 points is reasonable
- **For ES**: 2-5 points is reasonable
- **For MES/MNQ**: Scale down proportionally
**Alert Highlight Color**
- The color lines/labels turn when proximity is triggered
- Default: Yellow (high visibility)
### 📋 Table Settings
**Show Table**
- Toggle: Display the dashboard table
**Table Location**
- Top Left, Top Right, Bottom Left, Bottom Right
- Choose based on your chart layout and other indicators
**Text Size**
- Tiny, Small, Normal, Large
- **Recommendation**: Normal for 1080p monitors, Small for 4K
**Show % Distance**
- Toggle: Add percentage distance column to table
- Useful for comparing relative distances across different price ranges
**Show Statistics Row**
- Toggle: Show total count of unmitigated highs/lows
- Format: "📊 15↑ / 12↓" (15 unmitigated highs, 12 unmitigated lows)
- Useful for gauging overall market structure
### ⚡ Performance Settings
**Enable Level Cleanup**
- Automatically remove very old levels to maintain performance
- **Keep on** unless you want unlimited history
**Max Lookback Levels** (Default: 10,000)
- Maximum number of levels to track
- 10,000 ≈ 6+ months of 15-minute bars
- **Increase** if you want more history
- **Decrease** if experiencing performance issues
**Max Boxes Per Band** (Default: 245)
- TradingView limit is 500 total boxes
- With 2 bands, 245 each = 490 total (safe maximum)
---
## Best Practices
### 🎯 Position Management
**1. Scaling In Near Old Levels**
```
Price approaching 5-session-old low:
- First position: 30% size at proximity alert (⚠️)
- Second position: 40% size at exact level
- Third position: 30% size if it shows strong rejection
```
**2. Scaling Out Near Ancient Levels**
```
Holding long position, approaching 8-session-old high:
- Exit 50% at proximity alert (⚠️)
- Exit 30% at exact level
- Trail stop on remaining 20%
```
### 🧠 Trading Psychology Integration
Drawing from principles in *The Mountain Is You*, this indicator helps you:
**1. Recognize Self-Sabotage Patterns**
- **The Premature Entry**: Entering before price reaches your planned level
- **Solution**: Set alerts at unmitigated levels, wait for proximity warnings
- **The Profit-Taking Problem**: Exiting too early from fear
- **Solution**: Identify the next unmitigated level and commit to holding until proximity alert
- **The Loss Holding**: Refusing to exit losing trades
- **Solution**: When price breaks through and mitigates your entry level, it's telling you the structure changed
**2. Building Better Habits**
The color-coded age system trains your brain to:
- Respect levels that have proven themselves over time
- Distinguish between noise (new levels) and structure (old levels)
- Make decisions based on objective data, not fear or greed
**3. Emotional Regulation**
The proximity alerts serve as:
- **Circuit breakers** - Forcing you to re-evaluate before dangerous zones
- **Permission to act** - Giving you objective signals to exit without second-guessing
- **Validation** - Confirming when you're in alignment with market structure
### 📝 Pre-Market Routine
**Daily Setup Checklist:**
1. ✅ Identify the 3 nearest unmitigated highs above current price
2. ✅ Identify the 3 nearest unmitigated lows below current price
3. ✅ Note which are ancient (7+) - these are your "no-go" zones
4. ✅ Check the tunnel width (Δ in status row) - tight or wide?
5. ✅ Set alerts at the 1st high and 1st low for proximity warnings
6. ✅ Plan: "If we go up, I exit at ___. If we go down, I enter at ___."
### 🔄 Timeframe Confluence
**Multi-Timeframe Strategy:**
Run the indicator on **three instances**:
- **15-minute** (short-term structure)
- **1-hour** (intermediate structure)
- **4-hour** (major structure)
**Strong Setup**: When all three timeframes show unmitigated levels converging at the same price zone.
**Example:**
- 15m: Old low at 21,400
- 1H: Ancient low at 21,398
- 4H: Ancient low at 21,395
- **Result**: 21,395-21,400 is a monster support zone
### ⚠️ What This Indicator Doesn't Do
**Not a Crystal Ball**
- It doesn't predict where price will go
- It shows you where price *hasn't been* and how long it's been avoided
- The trading decisions are still yours
**Not an Entry Signal Generator**
- It provides context and structure
- You need to combine it with your entry methodology (price action, indicators, order flow, etc.)
**Not Foolproof**
- Ancient levels get broken
- Proximity alerts can trigger early in strong trends
- The market doesn't "owe" you a reversal at any level
---
## Common Scenarios
### Scenario 1: "Level Cluster Ahead"
**Situation**: You're long at 21,400. The table shows:
- 1st High: 21,425 (2 sessions old)
- 2nd High: 21,428 (3 sessions old)
- 3rd High: 21,435 (6 sessions old)
**Interpretation**: There's a resistance cluster just 25-35 points away. The 6-session-old level is particularly significant.
**Action**:
- Set first profit target at 21,420 (before the cluster)
- Set second target at 21,426 (between 1st and 2nd)
- Trail remaining position, but be ready to exit on rejection at 21,435
**Cave Diving Analogy**: You're approaching an overhead section with limited clearance. Lighten your load (reduce position) before entering.
---
### Scenario 2: "Ancient Level Approaches"
**Situation**: The market is grinding higher. You see ⚠️ appear next to a 9-session-old high at 21,500.
**Interpretation**: This level has survived over a week without being touched. Massive potential liquidity zone.
**Action**:
- If long, this is your absolute exit zone. Take profits before or at level.
- If looking to short, wait for clear rejection (price taps and reverses)
- Don't try to buy the breakout until it clearly breaks and retests
**Cave Diving Analogy**: Your dive computer is beeping - you've reached your planned turn-back depth. No matter how interesting it looks ahead, honor your plan.
---
### Scenario 3: "Mitigated Levels Create New Structure"
**Situation**: Price breaks and mitigates the 1st High. The previous 2nd High becomes the new 1st High.
**Interpretation**: The structure just shifted. What was the 2nd level is now most relevant.
**Action**:
- Watch how price reacts to the newly-mitigated level
- If it holds below (acts as resistance), bearish
- If it reclaims and holds above (acts as support), bullish
- The NEW 1st High is your next target/resistance
**Cave Diving Analogy**: You've passed through a restriction - the cave layout ahead is different now. Update your mental map.
---
### Scenario 4: "Tight Tunnel, Upcoming Breakout"
**Situation**: The Δ in the status row shows 3.25 points (very tight). Bands are converging.
**Interpretation**: Price is consolidating between very close unmitigated levels. Breakout likely.
**Action**:
- Don't try to predict direction
- Set alerts above 1st High and below 1st Low
- When break occurs, trade the retest
- Expect volatility - use wider stops
**Cave Diving Analogy**: You're in a narrow passage. Movement will be sudden and directional once it starts.
---
### Scenario 5: "Imbalanced Structure"
**Situation**: The statistics row shows "📊 22↑ / 7↓"
**Interpretation**: There are many more unmitigated highs than lows. This suggests:
- Price has been declining (hitting lows, leaving highs behind)
- Potential bullish reversal zone (lots of overhead supply mitigated)
- Or continued bearish structure (resistance everywhere above)
**Action**:
- Look at the age of those 22 highs
- If mostly new (0-2 sessions): Just a recent downmove, not significant yet
- If many old/ancient: Strong overhead resistance, be cautious on longs
- Compare to price action: Is price respecting the remaining lows?
**Cave Diving Analogy**: You've swam deeper than your starting point - most of your markers are above you now. Are you planning the ascent or going deeper?
---
## Final Thoughts: The Philosophy
This indicator is built on a simple but powerful principle: **The market has memory, and that memory has weight.**
Every unmitigated level represents:
- Liquidity left behind
- Orders waiting to be filled
- Institutional interest potentially parked
- Psychological significance for participants
The longer a level remains unmitigated, the more "charged" it becomes. When price finally revisits it, something significant usually happens - either a strong reversal or a definitive break.
Your job as a trader isn't to predict which outcome will occur. Your job is to:
1. **Recognize** when you're approaching these charged zones
2. **Respect** them by adjusting position size and risk
3. **React** appropriately based on how price behaves at them
4. **Remember** that ancient levels (like ancient wisdom) deserve extra reverence
The Cave Diving Framework embedded in this indicator serves as a constant reminder: Trading, like cave diving, requires rigorous respect for environmental hazards, meticulous planning, and the discipline to turn back when your limits are reached.
**Every proximity alert is the market asking you**: *"Do you really want to go deeper?"*
Sometimes the answer is yes - when your setup, confluence, and risk management all align.
Often, the answer should be no - and that's the trader avoiding the accident that would have happened to the gambler.
---
### 🎯 Quick Reference Card
**Color System:**
- 🟢 Bright colors = New (0-1 sessions) = Shallow water
- 🟡 Medium colors = Medium (2-3 sessions) = Penetration depth
- 🔴 Dark colors = Old (4-6 sessions) = Deep dive zone
- 🟣 Deep dark colors = Ancient (7+ sessions) = Overhead environment
**Symbols:**
- ↑ ↑↑ ↑↑↑ ↑↑↑↑ ↑↑↑↑↑ = High levels (1st through 5th)
- ↓ ↓↓ ↓↓↓ ↓↓↓↓ ↓↓↓↓↓ = Low levels (1st through 5th)
- ⚠️ = Proximity alert (danger zone)
- 🟢 = Bullish structure
- 🔴 = Bearish structure
- Δ = Tunnel width (distance between 1st high and 1st low)
**Critical Rules:**
1. Never fight ancient levels (7+ sessions)
2. Respect proximity alerts (⚠️)
3. Scale out near old/ancient resistance
4. Wait for confluence when entering
5. Let mitigated levels prove their new role
---
**Remember**: The indicator gives you structure. The trading edge comes from your discipline in respecting that structure.
Trade safe, trade smart, and always know your exit before your entry. 🎯
---
*"You don't become your best self by denying your patterns. You become your best self by recognizing them, understanding them, and choosing differently." - Adapted from The Mountain Is You*
In trading: You don't become profitable by ignoring market structure. You become profitable by recognizing it, understanding it, and choosing your entries accordingly.
Session Markers - JDK AnalysisSession Markers is a tool designed to study how markets behave during specific, recurring time windows. Many traders know that price behaves differently depending on the day of the week, the time of the day, or particular market sessions such as the weekly open, the London session, or the New York open. This indicator makes those recurring windows visible on the chart and then analyzes what price typically does inside them. The result is a clear statistical understanding of how a chosen session behaves, both in direction and in strength.
The script works by allowing the trader to define any time window using a start day and time and an end day and time. Every time this window occurs on the chart, the indicator highlights it with a full-height vertical band. These visual markers reveal patterns that are otherwise difficult to detect manually, such as whether certain sessions tend to trend, reverse, consolidate, or create large imbalances. They also help the trader quickly scan through historical price action to see how the market has behaved under similar conditions.
For every completed session window, the indicator measures how much price changed from the moment the window began to the moment it ended. Instead of using raw price differences, it converts these changes into percentage moves. This makes the measurement consistent across different price ranges and market regimes. A one-percent move always has the same meaning, whether the asset is trading at 100 or 50,000. These percentage moves are collected for a user-selected number of past sessions, creating a dataset of how the market has behaved in the chosen time window.
Based on this dataset, the indicator generates several statistics. It counts how many past sessions closed higher and how many closed lower, producing a directional tendency. It also computes the probability of an upward session by dividing the number of positive sessions by the total. More importantly, it calculates the average percentage movement for all sessions in the lookback period. This average move reflects not just the direction but also the magnitude of price changes. A session with frequent small upward moves but occasional large downward moves will show a negative average movement, even if more sessions ended positive. This creates a more realistic representation of true market behavior.
Using this average movement, the script determines a “Bias” for the session. If the average percentage move is positive, the bias is considered bullish. If it is negative, the bias is bearish. If the values are very close to zero, the bias is neutral. This way, the indicator takes both frequency and impact into account, producing a magnitude-aware assessment instead of one that only counts wins and losses. A sequence such as +5%, –1% results in a bullish bias because the overall impact is strongly positive. On the other hand, a series of small gains followed by a large drop produces a bearish bias even if more sessions ended positive, because the large move dominates the average. This provides a far more truthful picture of what the market tends to do during the chosen window.
All relevant statistics are displayed neatly in a small panel in the top-right corner of the chart. The panel updates in real time as new sessions complete and older ones fall out of the lookback range. It shows how many sessions were analyzed, how many ended up or down, the probability of an upward move, the average percentage change, and the final bias. The background color of the panel instantly reflects that bias, making it easy to interpret at a glance.
To use the tool effectively, the trader simply needs to define a time window of interest. This could be something like the weekly opening window from Sunday to Monday, the London open each day, or even a unique custom window. After selecting how many past sessions to analyze, the indicator takes care of the rest. The vertical session markers reveal the structure visually. The statistics summarize the historical behavior objectively. The magnitude-weighted bias provides a realistic indication of whether the window tends to produce upward or downward movement on average.
Session Markers is helpful because it translates repeated market timing behavior into measurable data. It exposes hidden tendencies that are easy to feel intuitively but hard to quantify manually. By analyzing both direction and magnitude, it prevents misleading interpretations that can arise from looking only at win rates. It helps traders understand whether a session typically produces meaningful moves or just small noise, whether it tends to trend or reverse, and whether its behavior has recently changed. Whether used for bias building, session filtering, or deeper market research, it offers a structured framework for understanding the market through time-based patterns.
Session Highlighter with Kill Zones [Exponential-X]Session Highlighter with Kill Zones
Overview
This indicator provides comprehensive visualization of major forex trading sessions (Asian, London, and New York) with integrated kill zone detection and real-time session analytics. It helps traders identify optimal trading times by highlighting high-volatility periods and tracking session-specific price ranges.
What Makes This Original
While session indicators are common, this script uniquely combines several features that work together:
Kill Zone Integration: Highlights specific high-volatility windows within sessions (London: 02:00-05:00 EST, NY: 08:30-11:00 EST) when institutional activity typically peaks
Session Overlap Detection: Automatically detects and highlights when major sessions overlap (London-NY, Asian-London) with distinct visual cues
Real-Time Range Tracking: Calculates and displays percentage-based session ranges as they develop, not just historical data
Dynamic Statistics Dashboard: Live table showing current active session, session times, and comparative range percentages
Customizable Visual System: Flexible styling options including background shading, box overlays, and configurable line styles for session boundaries
How It Works
Session Detection Logic
The script uses timezone-normalized session detection based on EST/EDT times. It converts the current bar's timestamp to New York time and determines which session(s) are active using minute-based calculations. This approach ensures accurate session detection regardless of your chart's timezone settings.
Kill Zones
Kill zones represent periods within sessions when institutional traders are most active. The London kill zone (02:00-05:00 EST) captures pre-London open volatility, while the NY kill zone (08:30-11:00 EST) aligns with US economic data releases and market open activity.
Range Calculations
Session highs, lows, and opens are tracked from the first bar of each session and updated in real-time. Range percentages are calculated as: ((High - Low) / Low) × 100 , providing a volatility measure that's comparable across different instruments and price levels.
Visual System
Background shading: Color-coded zones for each session
Session boxes: Outline entire session ranges
H/L lines: Dynamic lines showing current session extremes
Open lines: Reference levels from session start
Overlap highlighting: Distinct colors when multiple sessions are active simultaneously
How to Use
Intraday Trading: Use kill zones to time entries during high-liquidity periods
Session Breakouts: Monitor for price breaks above/below session highs/lows
Range Trading: Trade between session boundaries during consolidation
Session Continuity: Observe how price behaves as sessions transition
Volatility Assessment: Compare current session ranges to typical values
Recommended Timeframes: Works on any timeframe, but most useful on 1m to 1H charts for intraday trading.
Settings Explained
Sessions Group
Toggle each major session on/off independently
Customize colors for visual clarity
Enable/disable overlap highlighting
Levels Group
Show/hide session high/low lines
Show/hide session open levels
Choose line styles (Solid/Dashed/Dotted)
Kill Zones Group
Toggle kill zone highlighting
Select which kill zones to display
Customize kill zone color intensity
Display Group
Show/hide statistics table
Show/hide session labels on chart
Important Notes
All times are displayed in EST/EDT
Session ranges reset at the start of each new session
Kill zones are session sub-periods, not separate sessions
Overlap colors override individual session colors when multiple sessions are active
The statistics table updates in real-time and shows percentage-based ranges for cross-instrument comparison
Session Times Reference
Asian Session: 19:00 - 04:00 EST (Tokyo open through early Sydney close)
London Session: 03:00 - 12:00 EST (Full European trading hours)
New York Session: 08:00 - 17:00 EST (US market hours)
London Kill Zone: 02:00 - 05:00 EST (Pre-London volatility spike)
NY Kill Zone: 08:30 - 11:00 EST (US open and news releases)
Alerts Available
The script includes six pre-configured alert conditions:
London Kill Zone start
NY Kill Zone start
London-NY Overlap start
Asian Session open
London Session open
NY Session open
Create alerts through TradingView's alert system to get notified when specific sessions or kill zones begin.
Disclaimer: This indicator is for informational purposes only. Session times and kill zones are based on typical market patterns but do not guarantee specific trading outcomes. Always use proper risk management.
