Diddly - Charts (Asian, London & New York Session + Weekdays)

31 мар. 2023 г.

Overview:

Diddly Charts is for providing intraday context to where we are in the market. It does this through a series of ranges displayed throughout the day, typically broken down into the Asian, London, and New York sessions.

This indicator also highlights key market structures like monthly, weekly, and previous day's highs and lows. Lines are provided for weekday and weekend separators, with the days of the week at the bottom of the chart, making it extremely useful for traders when identifying weekly cycles.

Usage:

All aspects of this indicator are changeable within the settings, allowing you to utilise the elements that are most important to your trading strategy.

The default layout is extremely useful for currency pairs, where traders use the London and New York boxes as windows of when to engage with the market. The times of these trading sessions can be changed to suit the trading periods that you want to trade.

Adhering to trading windows can help improve discipline to ensure that you are only taking entries within the time periods that match your trading strategy.



Some traders prefer a cleaner interface and don't want any indicator to detract from the price action they are reading, this can be achieved through changing the colour and their transparency in settings. In this example, you will see different labels used to annotate key structures, these can be changed to something that is relevant to your strategy in the settings.



It can also be used for trading Stocks where sessions are broken down into pre-market, market hours and post-market. This can be helpful to see those stocks that breakout of pre-market session highs and lows and also provide trading windows to keep traders out of trades that do not comply with their trading strategy.



Using higher time frames like a 4 hour chart or even the 1 hour chart, the intraday sessions are hidden away so traders can get a broader perspective without the clutter when zooming out. Although there are options to turn it on if you would prefer.



Here on a zoomed out 1 hour chart we have the option to only display the weekly line separator, which can help get an overview of weekly cycles.



Helpful Information

The main setting that you may want to change is at the top of the indicator settings, which is asking "what asset type" is the symbol being looked at. The indicator needs to know how to display the session range information. For example for currencies, the range size will be displayed in pips. For stocks or Futures it would display the financial amount. Beyond the visual display of information, this setting has no other impact on the indicator behaviour. The default setting is "Currencies".

We often get asked what the labels that appear on the chart mean. These can all be changed to your requirements, but by default what you will see when you apply the indicator to the chart is:

• Under the Asian Range appears a couple of labels.
  
  A = x : This is the range size of the session in pips for forex or amount for other assets, from the lowest to the highest price traded during that window.
  ADR = y : This is the Average Daily Range over the last 21 days for this ticker
  
  
• Under the London and New York session you will see a L = x or NY = y. This is the range size of each session in pips for forex or amount for other assets.
  
  Structure Labels
• YH = Yesterday's High
  
  
• YL = Yesterday's Low
  
  
• WH = Current Week's High
  
  
• WL = Current Week's Low
  
  
• MH = Current Month's High
  
  
• ML = Current Month's Low
  
  

We greatly appreciate the support and feedback from the Trading View community, and we are dedicated to continuing to improve our indicators with your support.

We want to help you manage risk, and that's why we emphasise that trading is risky and any technology used to support our trading decisions is based on information from the past. We encourage traders to take responsibility for their trading businesses and always prioritise risk management.