This indicator highlights the Overnightsession (ONS), taught by TheCurrenyMerchant. The Overnightsession is from 4-8 am UTC-5. This session can be used to form trades, e.g. after one side has been taken out. It has the options to display Projection and the equilibrium level. Equilibrium level (50%) can be used to identify if price is currently in premium/discount of the range and the projections (standard deviations of the range) can be used to identify possible targets. A classic setup he teaches is: Price trades agressively out of the range taking liquidity. As soon as we trade above the high of the candle that took liquidity, that candle can be considered an orderblock, where the 50% level can be used for long setups.
⚠️ Open Source ⚠️ Coders and TV users are authorized to copy this code base, but a paid distribution is prohibited. A mention to the original author is expected, and appreciated.
⚠️ Terms and Conditions ⚠️ This financial tool is for educational purposes only and not financial advice. Users assume responsibility for decisions made based on the tool's information. Past performance doesn't guarantee future results. By using this tool, users agree to these terms.
Информация о релизе
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fixed equilibrium line
Информация о релизе
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added half deviations. can be turned off/on in the settings
Can you include the 4am opening price with a horizontal array? Thanks
KahiuFX
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Thanks for the indicator. Are you able to customize the time settings to automatically reflect the NY Local time such that it changes from UTC-5 to UTC-4 automatically?
Dshank1987
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Do you make indicators for people?
AlienPockets
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Great indicator, thank you for taking the time to create it. for me, It is showing as 5am-9am on mine and I can't adjust it. How can i remedy this?
joshuuu
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@AlienPockets, please read the description. that‘s the time because that‘s what thecurrencymerchant is using
KahiuFX
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@AlienPockets, here as well it's not showing 4-8🤦🏿♂️
MiniFuturesTrading
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Simple and nice. Would be great to be able to select UTC time, since my chart is UTC -4 then it shows as 5. Also be great to add ones own timeframe (start, end times). That way it can be applied to other teachings also :) Great work Josh, love seeing what you come out with!!
joshuuu
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@MiniFuturesTrading, will add adjustable times, but it‘s utc-5 as default, bc that‘s what tcm is teaching
oluduroj
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@joshuuu, THANKS a milli for this. Saves so much time trying to mark out these ONS zones each day lol. I think for those asking about the UTC-4 what i did was change line 15 of your code to t = time('D', sess, timezone = "America/New_York") and that did the trick. I know you mentioned you posted a new script that allows for that. I am just seeing your comments lol. Once again thanks a bunch bro.
joshuuu
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@oluduroj, changing it to america/new_york is wrong. the ONS is from 4-8 CHICAGO Time, not new york. the script displays the correct overnight session. if you change the code, it's not the correct overnight session