Key Prices & LevelsThis indicator is designed to visualize key price levels & areas for NY trading sessions based on the price action from previous day, pre-market activity and key areas from NY session itself. The purpose is to unify all key levels into a single indicator, while allowing a user to control which levels they want to visualize and how.
The indicator identifies the following:
Asia Range High/Lows, along with ability to visualize with a box
London Range High/Lows, along with ability to visualize with a box
Previous Day PM Session High/Lows
Current Day Lunch Session High/Lows, starts appearing after 12pm EST once the lunch session starts
New York Open (8:30am EST) price
9:53 Open (root candle) price
New York Midnight (12:00am EST) price
Previous Day High/Lows
First 1m FVG after NY Session Start (after 9:30am), with the ability to configure minimum FVG size.
Opening Range Gap, showing regular market hours close price (previous day 16:15pm EST close), new session open price (9:30am EST open) and optionally the mid-point between the two
Asia Range 50% along with 2, 2.5, 4 and 4.5 deviations of the Asia range in both directions
Configurability:
Each price level can be turned off
Styles in terms of line type, color
Ability to turn on/off labels for price levels and highlighting of prices on price scale
Ability to control label text for price levels
How is it different:
Identifies novel concepts such as 9:53 open, root candle that can be used as a bounce/resistance area during AM/PM sessions as well as confirmation of direction once closed over/under to indicate price's willingness to continue moving in the same direction.
It also shows 1st 1m FVG after New York Session open, that can be used to determine direction of the price action depending on PA's reaction to that area. While both 9:53 and 1m FVG are 1m based markers, these levels are visualized by the indicator on all timeframes from 15s to 1h.
Additionally the indicator is able to both highlight key prices in the price scale pane as well as combine labels to minimize clutter when multiple levels have the same price.
Lastly for in-session ranges such as Lunch High/Low the indicator updates the range in real-time as opposed to waiting for the lunch session to be over.
Asiasession
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.
KillZones & Sessions [TradingFinder] Volume | Asia, London & NY🔵 Introduction
🟣 Session
The forex market operates 24 hours a day, 5 days a week, with only Saturdays and Sundays being off; traders often focus on one of the forex trading sessions instead of trying to trade in all markets 24 hours a day.
Trading sessions are time intervals during which a specific financial market is active and trades are conducted. The Asia, London, and New York sessions are the most important trading sessions throughout the 24-hour period, during which a significant amount of money and liquidity enters the market.
🟣 Kill Zone
Traders in financial markets profit from the difference between the price at which they buy or sell and the current market price. Traders have different time horizons for trading.
Among these, some traders engage in daily or even hourly trading and must operate during times when the market has desirable trading volumes and significant price movements.
Kill zones are segments of a session with higher trading volumes and price fluctuations compared to the rest of the session.
🔵 How to Use
🟣 Session Time
The "Asia Session" consists of two sessions: "Sydney" and "Tokyo." The beginning of this session, according to the "UTC" time zone, is at 23:00 and ends at 06:00. Similarly, the beginning of the "Asia KillZone," according to the "UTC" time zone, is at 23:00, and it ends at 03:55.
The "London Session" consists of two sessions: "Frankfurt" and "London." The beginning of this session, according to the "UTC" time zone, is at 07:00, and it ends at 14:25. Similarly, the beginning of the "London KillZone," according to the "UTC" time zone, is at 07:00, and it ends at 09:55.
The beginning of the "New York am" session, according to the "UTC" time zone, is at 14:30, and it ends at 19:25. Similarly, the beginning of the "New York am KillZone," according to the "UTC" time zone, is at 14:30, and it ends at 16:55.
The beginning of the "New York pm" session, according to the "UTC" time zone, is at 19:30, and it ends at 22:55. Similarly, the beginning of the "New York pm KillZone," according to the "UTC" time zone, is at 19:30, and it ends at 20:55.
Important : To prevent session overlap, the working hours of each session have slightly changed.
🔵 Features
🟣 Simultaneous Session and Kill Zone
With this indicator, you can simultaneously view the kill zone and session. High and low lines are used to indicate sessions, while filled areas with color represent kill zones. If you do not want to see kill zones, you can turn off the display settings.
🟣 Candle, Time, and Volume
Using the "More Info" feature, you can see the number of candles, elapsed time, and traded volume within the colored filled area.
🔵 Settings
•Show More Info: To display "More Info," you need to turn on this feature and turn it off whenever you don't need it.
• You can also customize these settings for each session separately :
o Display or hide session.
o Choose session color.
o Set session time range.
o Display or hide kill zone.
o Set kill zone time range.
Sessions KillZones Library [TradingFinder]🔵 Introduction
"The Forex Trading Sessions" highlight the active periods across different markets where significant trading volume and influence on the forex market are evident. The primary trading sessions globally include the "Asian Session," "London Session," and "New York Session."
A "Kill Zone" refers to a segment within a session characterized by high trading volume and notably sharper price movements. Consequently, there's a higher probability of encountering price action setups within these zones. Traders capitalize on this phenomenon in pursuit of more successful trading outcomes.
If you aim to integrate sessions or kill zones into your indicators or strategies, utilizing this library can amplify the precision and efficiency of your Python script development.
🔵 How to Use
First, you can add the library to your code as shown in the example below:
import TFlab/SessionAndKillZoneLibrary_TradingFinder/1
🟣 Parameters
SessionDetector(Session_Name, Session_Time, KillZone_Time, Session_Show, KillZone_Show, AreaUpdate, MoreInfo, Session_Color, Info_Color) =>
Parameters:
•Session_Name (string)
•Session_Time (string)
•KillZone_Time (string)
•Session_Show (bool)
•KillZone_Show (bool)
•AreaUpdate (string)
•MoreInfo (bool)
•Session_Color (color)
•Info_Color (color)
Session_Name : You must enter the session name in this parameter.
Session_Time : Enter here the start and end time of the session, which should be based on the UTC time zone.
KillZone_Time : Enter the start and end times of the kill zone, which should be based on the UTC time zone, here.
Session_Show : You can control whether or not to show the session using this entry. You must set true to display and false to not display.
KillZone_Show : Using this input you can control whether the kill zone is displayed or not. You must set true to display and false to not display.
AreaUpdate : If you want the session to be determined based on the time and high and low of the session itself, you must enter "Session" and if you want the area to be determined based on the time and high and low of the kill zone, you must enter "Kill Zone".
MoreInfo : If you want more information, you should set this entry to true, otherwise set to false. This information includes the number of candles in the area, the length of time in the area and the volume of transactions in the area.
Session_Color : Enter your desired color to display the session at this section. It is recommended to use bright and sharp colors.
Info_Color : Enter your desired color to display more information in this section.
🔵 Function Outputs
The outputs of this function are direct and indirect.
🟣 Indirect outputs
These outputs include session display, kill zone display, and time and volume information of session or kill zone.
🟣 Direct outputs
There are 8 direct outputs, which are:
Session Time : If the Session is active, it outputs 1, and if the Session is inactive, it outputs 0.
Kill Zone Time : If the Kill Zone is active, it outputs 1, and if the Kill Zone is inactive, it outputs 0.
Open : Session opening price.
High : The highest price of the session.
Low : The lowest price of the session.
Close : The last price of the session.
Low Touch Alert : If "Area Update" is in "Kill Zone" mode, if the price reaches the lowest price of the kill zone in the same session after the end of the kill zone, this output will be true. You can use this output to create an alert.
High Touch Alert : If "Area Update" is in "Kill Zone" mode, if the price reaches the highest price of the kill zone in the same session after the end of the kill zone, this output will be true. You can use this output to create an alert.
Important : To use "Open", "High", "Low" and "Close", "Area Update" must be in "Session" mode.
Sessions Lite [TradingFinder] New York, London, Asia, NYSE Forex🔵 Introduction
A trading session is one of the basic concepts in the financial market that refers to specific time periods. In fact, a session means hours during the day and night, during which traders in a certain part of the world conduct their transactions.
Although the "Forex" and "CFDs" market is open 24 hours a day and it is possible to trade in it, but in some hours the activity in this market decreases so much that many traders prefer not to trade and only watch the market. On the other hand, there are specific times when the market is very busy and dynamic, and many traders tend to trade during these hours of the day and night.
Trading sessions are usually divided into three main categories, which are "Asian", "European" and "North American" sessions. These trading sessions are also called the "Tokyo", "London" and "New York" sessions, respectively. But they also categorized these sessions in more detailed ways such as "Sydney session", "Shanghai session" or "NYSE session".
🔵 Tokyo trading session (Asian session)
After the weekend that happens on Saturday and Sunday, the Forex market starts with the Asian session. In this continent, most of the transactions are done in the Tokyo session, and for this reason, it is usually called the Asian session or the Tokyo session. However, other countries such as Australia, China and Singapore also do a lot of trading in this session.
The Tokyo session has a lower volume of transactions compared to the London and New York sessions, and therefore the liquidity is lower. In this session, most of the Forex currency pairs move in a price range. For this reason, different people use the ups and downs with the trading strategy in the range and get profit.
The low liquidity of the Tokyo session means that trading spreads are also higher during these hours. Besides, most of the transactions of this session are done in the early hours and at the same time as the planned news release.
In the Tokyo or Asia session, the best currency pairs to trade are the "Japanese yen", the "Australian dollar", and the "New Zealand dollar".
"Nikkei" index is also a good option for trading. If you trade in the Tokyo session, you should also be aware of the release of economic news and data from Australian, New Zealand and Japanese financial institutions.
🔵 London trading session (European session)
After the Asian session, it is time for the European session. In this period of time, transactions are very large and many European markets are involved. However, the European session is usually known as the London session.
Because of its specific time zone, London is not only known as the Forex trading center in Europe, but it is also known as the Forex trading center in the world. The London session overlaps with two other major trading sessions in the world, Asia and America. This means that most of the Forex transactions are done in this session. According to the latest statistics, 32% of Forex transactions are related to the London session, which shows that about a third of the activity performed in Forex takes place during this period.
This will increase the volume of Forex transactions and increase liquidity. An event that causes the spread of transactions to decrease. Of course, high liquidity also leads to greater volatility, which is desirable for many traders.
In the European session, the pound and euro currencies and the "DAX", "FTSE100", and "CAC40" indices are known as the best tradable assets. Also, traders of this session should pay attention to the news and data published by the "European Central Bank" and the "Bank of England". The news of countries like Germany, France and Italy are also very important.
🔵 American trading session (New York session)
When the New York session begins, several hours have passed since the end of the Tokyo session, but the European session is in the middle. In this session, they usually affect the financial activities carried out in America, but they also affect other countries such as Canada, Mexico and several South American countries.
The "US dollar" and stock indices such as "S&P", "Dow Jones" and "Nasdaq" are the most important assets that are traded in this session.
The early hours of the American session have a lot of liquidity and volatility due to the overlap with the European session, but with the end of the European session, the activity in the American session also decreases.
You can trade all major Forex currency pairs in the New York trading session. In this session, the "Federal Reserve", as the most important central bank in the world, is the institution that you should pay attention to its news and data.
The trading session indicator is an analytical tool in the financial markets that is used to display and analyze specific trading periods during a day. These indicators are generally useful for determining support and resistance levels during any trading session and for detecting different trading patterns.
For example, usually these indicators display the open and close price levels, the highest and lowest prices during a trading session. Also, you may notice various price patterns such as price channels, price phase phases and market trend changes during different trading sessions using these indicators.
🔵 cause of construction
In particular, the session light indicator version is designed and built for those traders who use many different tools on their chart at the same time. These traders can include "Volume Traders", "ICT traders", "Day Traders" and... These individuals can use "Session Lite" without disturbing the display of their other trading tools such as "Order Blocks", "Liquidity", "Zigzag", "FVG" etc.
But in general, there are several reasons for making tools like trading session indicators in financial markets, some of which include the following :
1. Analysis of specific time frames : Some traders and investors like to consider specific time frames for price analysis and review. For example, analyzing price changes during each trading session can help analyze trading patterns and identify trading opportunities.
2. Recognize different price patterns : Different price patterns may be observed during trading sessions. Trading session indicators can help to make better trading decisions by analyzing these patterns and their strengths and weaknesses.
3. Identifying Support and Resistance Levels : These tools may help to identify support and resistance levels during any trading session which can be helpful in deciding whether to enter or exit the market.
🔵 How to use
The Session Lite indicator displays 8 sessions by default. Asia session, Sydney session, Tokyo session, Shanghai session, Europe session, London session, New York session and New York Stock Exchange (NYSE) session are the sessions that are displayed.
You can activate or deactivate the display of each session by using the tick button next to the name of each session.
Two gray vertical dashes are also displayed by default, which indicate the beginning of the European session and the New York session. This feature is available for all sessions, but it is enabled by default only for these two sessions, and you can activate it for the rest of the session. You can enable or disable the display of this line by using the Start Session tick key.
Likewise, the information table is displayed by default, which includes the open or closed information of each session and the start and end times of each session. These timings are based on the UTC time zone.
Accordingly, the schedule of trading sessions is as follows :
Asia session from 23:00 to 06:00
Sydney session from 23:00 to 05:00
Tokyo session from 00:00 to 00:06
Shanghai session from 01:30 to 06:57
European session from 07:00 to 16:30
London session from 08:00 to 16:30
New York session from 13:00 to 22:00
New York Stock Exchange (NYSE) session from 14:30 to T 22:00
Important note : the beginning of the European session coincides with the opening of the Frankfurt market.
🔵 Settings
• In the settings section, there are customization capabilities according to the type of use of each user. The settings related to showing or not showing the box of each session, the start indicator of each session, setting the start and end time of the session and choosing the desired color to display each session are among the things that can be set from this section.
• At the end of the settings, you will see the "Info Table" option; By disabling this option, the "sessions" clock table displayed on the upper right side will be disabled.
LIT - TimingIntroduction
This Script displays the Asia Session Range, the London Open Inducement Window, the NY Open Inducement Window, the Previous Week's high and low, the Previous Day's highs and lows, and the Day Open price in the cleanest way possible.
Description
The Indicator is based on UTC -7 timing but displays the Session Boxes automatically correct at your chart so you do not have to adjust any timings based on your Time Zone and don't have to do any calculations based on your UTC. It is already perfect.
You will see on default settings the purple Asia Box and 2 grey boxes, the first one is for the London Open Inducement Window (1 hour) and the second grey box is for the NY Open Inducement Window (also 1 hour)
Asia Range comes with default settings with the Asia Range high, low, and midline, you can remove these 3 lines in the settings "style" and untick the "Lines" box, that way you only will have the boxes displayed.
Special Feature
Most Timing-based Indicators have "bugged" boxes or don't show clean boxes at all and don't adjust at daylight savings times, we made sure that everything automatically gets adjusted so you don't have to! So the timings will always display at the correct time regarding the daylight savings times.
Combining Timing with Liquidity Zones the right way and in a clear, clean, and simple format.
Different than others this script also shows the "true" Asia range as it respects the "day open gap" which affects the Asia range in other scripts and it also covers the full 8 hours of Asia Session.
Additions
You can add in the settings menu the last week's high and low, the previous day's high and low, and also the day's open price by ticking the boxes in the settings menu
All colors of the boxes are fully adjustable and customizable for your personal preferences. Same for the previous weeks and day highs and lows. Just go to "Style" and you can adjust the Line types or colors to your preferred choice.
Recommended Use
The most beautiful display is on the M5 Timeframe as you have a clear overview of all sessions without losing the intraday view. You can also use it on the M1 for more details or the M15 for the bigger picture. The Template can hide on higher time frames starting from the H1 to not flood your chart with boxes.
How to use the Asia Session Range Box
Use the Asia Range Box as your intraday Guide, keep in mind that a Breakout of Asia high or low induces Liquidity and a common price behavior is a reversal after the fake breakout of that range.
How to use the London Open and NY Open Inducement Windows
Both grey boxes highlight the Open of either London Open or NY Open and you should keep an eye out for potential Liquditiy Graps or Mitigations during that times as this is when they introduce major Liquidity for the regarding Session.
How to use the Asia high, low and midline and day open price
After Asia Range got taken out in one direction, often price comes back to those levels to mitigate or bounce off, so you can imagine those zones as support and resistance on some occasions, recommended in combination with Imbalances.
How to use the previous day and week's highs and lows
Once added in the settings, you can display those price levels, you can use them either as Liquidity Targets or as Inducement Levels once they are taken out.
Enjoy!
Session candles & reversals / quantifytools— Overview
Like traditional candles, session based candles are a visualization of open, high, low and close values, but based on session time periods instead of typical timeframes such as daily or weekly. Session candles are formed by fetching price at session start (open), highest price during session (high), lowest price during session (low) and price at session end (close). On top of candles, session based moving average is formed and session reversals detected. Session reversals are also backtested, using win rate and magnitude metrics to better understand what to expect from session reversals and which ones have historically performed the best.
By default, following session time periods are used:
Session #1: London (08:00 - 17:00, UTC)
Session #2: New York (13:00 - 22:00, UTC)
Session #3: Sydney (21:00 - 06:00, UTC)
Session #4: Tokyo (00:00 - 09:00, UTC)
Session time periods can be changed via input menu.
— Reversals
Session reversals are patterns that show a rapid change in direction during session. These formations are more familiarly known as wicks or engulfing candles. Following criteria must be met to qualify as a session reversal:
Wick up:
Lower high, lower low, close >= 65% of session range (0% being the very low, 100% being the very high) and open >= 40% of session range.
Wick down:
Higher high, higher low, close <= 35% of session range and open <= 60% of session range.
Engulfing up:
Higher high, lower low, close >= 65% of session range.
Engulfing down:
Higher high, lower low, close <= 35% of session range.
Session reversals are always based on prior corresponding session , e.g. to qualify as a NY session engulfing up, NY session must have a higher high and lower low relative to prior NY session , not just any session that has taken place in between. Session reversals should be viewed the same way wicks/engulfing formations are viewed on traditional timeframe based candles. Essentially, wick reversals (light green/red labels) tell you most of the motion during session was reversed. Engulfing reversals (dark green/red labels) on the other hand tell you all of the motion was reversed and new direction set.
— Backtesting
Session reversals are backtested using win rate and magnitude metrics. A session reversal is considered successful when next corresponding session closes higher/lower than session reversal close . Win rate is formed by dividing successful session reversal count with total reversal count, e.g. 5 successful reversals up / 10 reversals up total = 50% win rate. Win rate tells us what are the odds (historically) of session reversal producing a clean supporting move that was persistent enough to close that way too.
When a session reversal is successful, its magnitude is measured using percentage increase/decrease from session reversal close to next corresponding session high/low . If NY session closes higher than prior NY session that was a reversal up, the percentage increase from prior session close (reversal close) to current session high is measured. If NY session closes lower than prior NY session that was a reversal down, the percentage decrease from prior session close to current session low is measured.
Average magnitude is formed by dividing all percentage increases/decreases with total reversal count, e.g. 10 total reversals up with 1% increase each -> 10% net increase from all reversals -> 10% total increase / 10 total reversals up = 1% average magnitude. Magnitude metric supports win rate by indicating the depth of successful session reversal moves.
To better understand the backtesting calculations and more importantly to verify their validity, backtesting visuals for each session can be plotted on the chart:
All backtesting results are shown in the backtesting panel on top right corner, with highest win rates and magnitude metrics for both reversals up and down marked separately. Note that past performance is not a guarantee of future performance and session reversals as they are should not be viewed as a complete strategy for long/short plays. Always make sure reversal count is sufficient to draw reliable conclusions of performance.
— Session moving average
Users can form a session based moving average with their preferred smoothing method (SMA , EMA , HMA , WMA , RMA) and length, as well as choose which sessions to include in the moving average. For example, a moving average based on New York and Tokyo sessions can be formed, leaving London and Sydney completely out of the calculation.
— Visuals
By default, script hides your candles/bars, although in the case of candles borders will still be visible. Switching to bars/line will make your regular chart visuals 100% hidden. This setting can be turned off via input menu. As some sessions overlap, each session candle can be separately offsetted forward, clearing the overlaps. Users can also choose which session candles to show/hide.
Session periods can be highlighted on the chart as a background color, applicable to only session candles that are activated. By default, session reversals are referred to as L (London), N (New York), S (Sydney) and T (Tokyo) in both reversal labels and backtesting table. By toggling on "Numerize sessions", these will be replaced with 1, 2, 3 and 4. This will be helpful when using a custom session that isn't any of the above.
Visual settings example:
Session candles are plotted in two formats, using boxes and lines as well as plotcandle() function. Session candles constructed using boxes and lines will be clear and much easier on the eyes, but will apply only to first 500 bars due to Tradingview related limitations. Rest of the session candles go back indefinitely, but won't be as clean:
All colors can be customized via input menu.
— Timeframe & session time period considerations
As a rule of thumb, session candles should be used on timeframes at or below 1H, as higher timeframes might not match with session period start/end, leading to incorrect plots. Using 1 hour timeframe will bring optimal results as greatest amount historical data is available without sacrificing accuracy of OHLC values. If you are using a custom session that is not based on hourly period (e.g. 08:00 - 15:00 vs. 08.00 - 15.15) make sure you are using a timeframe that allows correct plots.
Session time periods applied by default are rough estimates and might be out of bounds on some charts, like NYSE listed equities. This is rarely a problem on assets that have extensive trading hours, like futures or cryptocurrency. If a session is out of bounds (asset isn't traded during the set session time period) the script won't plot given session candle and its backtesting metrics will be NA. This can be fixed by changing the session time periods to match with given asset trading hours, although you will have to consider whether or not this defeats the purpose of having candles based on sessions.
— Practical guide
Whether based on traditional timeframes or sessions, reversals should always be considered as only one piece of evidence of price turning. Never react to them without considering other factors that might support the thesis, such as levels and multi-timeframe analysis. In short, same basic charting principles apply with session candles that apply with normal candles. Use discretion.
Example #1 : Focusing efforts on session reversals at distinct support/resistance levels
A reversal against a level holds more value than a reversal by itself, as you know it's a placement where liquidity can be expected. A reversal serves as a confirming reaction for this expectation.
Example #2 : Focusing efforts on highest performing reversals and avoiding poorly performing ones
As you have data backed evidence of session reversal performance, it makes sense to focus your efforts on the ones that perform best. If some session reversal is clearly performing poorly, you would want to avoid it, since there's nothing backing up its validity.
Example #3 : Reversal clusters
Two is better than one, three is better than two and so on. If there are rapid changes in direction within multiple sessions consecutively, there's heavier evidence of a dynamic shift in price. In such case, it makes sense to hold more confidence in price halting/turning.
CRYPTO MARKET SESSION ANALYZER INDICATORCrypto Market Session Analyzer is an easy-to-use yet powerful analysis tool that helps the trader visualize and analyze price movements over three different trading sessions:
1) European Session
2) US session
3) Asian session
Automatically tracks the corresponding levels for each market session.
This indicator can be used on all timeframes equal to or less than 15 minutes.
Although this is a simple indicator to use, some care must be taken when using it. The trader must be careful to set the correct times for each session according to his UTC timezone. By default the indicator uses UTC. If your console is set to UTC + 2 for example, you will need to take this into account and align the times correctly. You can adjust the time for each session from the user interface. Following the example, if the opening of the UE session is set to 9 and UTC of your console is set to UTC + 2, the script will proceed to create the level at opening time 11.
HOW IT WORK
The indicator automatically draws a horizontal line at the open and a horizontal line at the close of each session. The indicator clears past support and resistance every 24 hours to provide a clean and easy-to-read chart, updating new levels session after session.
Blue indicates the EU session.
Orange indicates the US session.
Purple indicates the Asian session.
