Essa's Indicator V3

Essa's Indicator V3 – Advanced Market Structure & Session Levels
A comprehensive TradingView tool designed for market structure analysis, session tracking, and trend identification. It combines session high/low plotting, adaptive exponential moving averages (EMAs), ZigZag patterns, fractals, and higher high/lower low (HH/LL) recognition. This indicator provides insights into price action, volatility, and breakout potential.
Core Features
1. Adaptive Exponential Moving Averages (EMAs)

• Fast EMA (Blue Line, default: 9-period EMA) – Identifies short-term market trends.
  
• Slow EMA (Red Line, default: 21-period EMA) – Highlights longer-term trend direction.
  
• Volatility-Adjusted EMA Calculation – Uses ATR (Average True Range) to dynamically adjust smoothing, making the EMAs more responsive to market conditions.
  
• EMAs can be toggled on or off in the settings.
  

2. Trading Session Highs and Lows

• Tracks and plots the highs and lows of the three major trading sessions:
  
• London Session (Red lines, 08:00-17:00 LDN / 03:00-12:00 NY)
  
• New York Session (Blue lines, 12:00-21:00 LDN / 07:00-16:00 NY)
  
• Asia Session (Yellow lines, 22:00-08:00 LDN / 18:00-03:00 NY)
  
• Highs and lows for each session are marked, with breakouts potentially signaling key trading opportunities.
  
• Background shading distinguishes active session times:
  
• London Session – Light red background.
  
• New York Session – Light blue background.
  
• Asia Session – Light yellow background.
  

3. Breakout Alerts

• Alerts notify traders when price crosses key session highs or lows:
  
• Break Above Session Highs – Signals potential bullish momentum.
  
• Break Below Session Lows – Indicates possible bearish movement.
  
• Customizable alert settings allow users to focus on specific sessions.
  

• 4. ZigZag Market Structure Detection
• Highlights significant price swings by identifying peaks and troughs.
  
• Helps visualize trend direction and potential reversals.
  
• Configurable ZigZag length for adjusting sensitivity to price movements.
  

5. Higher Highs (HH), Lower Lows (LL), Higher Lows (HL), and Lower Highs (LH) Identification

• Detects and labels key market structure points:
  
• Higher Highs (HH) and Higher Lows (HL) – Indicate an uptrend.
  
• Lower Highs (LH) and Lower Lows (LL) – Suggest a downtrend.
  
• Provides insights into trend continuation or possible reversals.
  

6. Fractal Markers

• Identifies potential market turning points using fractal-based detection:
  
• Up Fractals (Green Triangles above price) – Indicate potential upward reversals.
  
• Down Fractals (Red Triangles below price) – Signal potential downward reversals.
  
• Useful as a secondary confirmation tool for trade setups.
  

7. Custom Timezone Options

• Allows switching between London (LDN) and New York (NY) timezones to align session markers with the trader’s location.
  
• Ensures session high/low levels are accurately displayed for forex, crypto, and other markets.
  

Use Cases

• Day traders and scalpers can track session high/low breakouts and real-time market structure shifts.
  
• Swing traders can identify trend continuation or reversal opportunities.
  
• Volatility-based traders benefit from adaptive EMAs that dynamically adjust to market conditions.
  
• Price action traders can use market structure indicators to enhance entry and exit strategies.
  

Essa’s Indicator V3 is a multi-functional tool designed for traders who require a structured approach to technical analysis, with configurable session tracking, adaptive moving averages, and market structure insights.