Session Breakout/Sweep with alertsThis indicator is based on popular London breakout strategy. but as I noticed that it don't work good with breakouts so I made it to be used as reversal entries as well. By default the timing is set for asian session but you can change it according to your need.
Use as breakout
Use as liquidity sweep
Note:
On some pairs the timing changes automatically (I don't know why), if you face this issue , go to settings and set the timing accordingly and save it as templet so that you don't have to change it every time you load the chart with timing issue.
I hope you guys find it useful. Do share your though and feedback in comments.
Sessionbreakout
Main Market Opener Breakout [RH]Based on my observations while analyzing the crypto and forex charts, particularly BTCUSDT and EURUSD, I have noticed that the prices exhibit significant movements during most stock market sessions, particularly during New York main market session.
With the aim of capturing these moves, I embarked on extensive research. Through this research, I discovered that by considering the very first "15m" or "30m" candle of the main market trading session and marking that first candle's high and low points, we can create potential trigger points.
A break above the high point indicates a bullish signal, while a break below the low point suggests a bearish signal. To further refine our analysis and filter out some noise, we can incorporate the Average True Range (ATR) value of that candle.
Candle time is very important here. We will mark the candle when the actual trading begins in New York stock exchange. The trading hours for the New York Stock Exchange (NYSE) typically begin at 9:30 AM and end at 4:00 PM Eastern Time (ET), Monday through Friday. This is known as the "NYSE Regular Trading Session." However, it's important to note that there are also pre-market and after-hours trading sessions that occur outside of these core hours. We will not consider these pre and after-hours.
Example:
First break-above and break-below is marked automatically and alerts are also available for first breaks.
Example:
I have also added the option to add the, London Stock Exchange Main Market and Tokyo Stock Exchange Regular Trading Session. You can add those sessions also and test with different symbols.
Stocks symbols from different stock exchanges just mark the very first candle of the day(main market trading session).
Alerts are available.
Session Breakout Strategy [Kintsugi Trading]What is Session Breakout Strategy?
This premium indicator was inspired by my desire to find and place high probability forex trades in any market, direction, or time of day.
Why Forex?
The Forex markets operate 24 hours, 5.5 days a week
Access to meaningful leverage
Ability to easily trade long or short
High liquidity
How to use it!
----- First, start by choosing a Range Session and Trade Session. -----
- Range Session = Period of time you believe will be predictive of future price action. I like to overlay 'FX Market Sessions' by boitoki to target timeframes in which forex market sessions overlap. This period is indicative of buyers and sellers battling it out in an effort to choose a direction.
- Trade Session = Period of time you believe the price will act on the information gathered from the range session.
----- Next, we filter the Range Session by information that will help further predict price movement in the Trade Session. -----
Our tools are:
Moving Average Filter
Average RSI Filter
RSI Decision Level
None
Each parameter is customizable.
----- Next, we set our risk. -----
Enter the "stop pip size' you desire.
Enter the 'target profit pip size' you desire.
We can set out ($) dollar risk-per-trade in the inputs. The script does not know your actual account balance, so if you want to risk $100/trade you would enter '$10,000' in the account balance section and '1' in the Risk Per Trade% section.
For example, an '8' stop and an '8' tp would indicate a 1:1 risk-reward. *Note - although you may generate a higher win percent with a less favorable RR, it is rarely worth it.
----- Finally, we backtest our ideas. -----
After using the 'Strategy Tester' tab to thoroughly backtest your predictions you are ready to take it to the next level - Automated Trading!
This was my whole reason for creating the script. If you work a full-time job, live in a time zone that is hard to trade, or just don't have the patience, this will be a game-changer for you as it was for me.
Auto-Trading
When it comes to auto-trading this strategy I have included two options in the script that utilize the alert messages generated by TradingView.
*Note: Please trade on a demo account until you feel comfortable enough to use real money, and then please stick to 1%-2% of your total account value in risk per trade.*
AutoView
PineConnector
Good luck with your trading!
Session's First Bar RangeFirst Bar is crucial when there is gap up or gap down opening. It is recommended to use 15m Timeframe for better use.
Crossing this range signifies the absorption of existing buyers/sellers in the opening session and sometimes decide the trend onwards.