Session Opening
Last updated
Last updated
This indicator highlights session opening zones and tracks price action around them to detect potential breakout opportunities.
Session Open Zones:
Marks vertical session opening zones to identify key market opening times.
These zones act as initial reference points for price action.
Opening Range Channels:
Creates price channels from session open zones based on the initial price movement.
The channel helps determine support and resistance for the session.
Breakout Signals:
Up Signal: If the price breaks above the session channel, an upward breakout signal is triggered.
Down Signal: If the price breaks below the session channel, a downward breakout signal is generated.
Best suited for timeframes below 1H (e.g., 5m, 15m, 30m) to capture session-based price movements.
Look for session open zones and observe the initial price range.
Identify breakouts from the session channel to confirm directional bias.
Use the breakout signals to spot potential trend continuation or reversals.
This tool is useful for day traders looking to capitalize on early session volatility and momentum shifts.
This panel allows users to customize session-based analysis by adjusting session time, signals, and time zone settings.
Enable Session:
Toggles the session open zones and price channels on or off.
Signals:
Enables or disables breakout signals when the price exits the session channel.
UTC +/-:
Adjusts the session time based on the user’s time zone offset from UTC (e.g., -5 for EST).
Start & End Time:
Defines the specific session time range (e.g., 08:00 – 09:15) to track the market opening period.
Session Zone Color:
Allows users to customize the color of the session background for better visibility.
