SPX Direction Daily Levels

hace 4 días

SPX Direction Daily Levels is an intraday levels indicator that automatically plots key reference prices and ranges, including today’s high/low, yesterday’s high/low/close/mid, a rolling 5 day weekly high/low, and session-based ranges like the Opening Range, Morning Range, London Range, Yesterday Afternoon Range, the Opening Gap, the New Week Opening Gap, and the New York Midnight Open. It draws these as horizontal lines with optional labels, vertical session markers, and optional shaded gap boxes to help you quickly see important support/resistance and session structure.

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WHAT THIS INDICATOR DOES (PLAIN AND SIMPLE)
This indicator draws important DAILY session levels and ranges on your chart so you can see key support/resistance and session structure at a glance.

It automatically plots lines + labels for:
- Daily High/Low
- Yesterday High/Low/Close and Yesterday Mid
- Weekly High/Low (based on recent days)
- Opening Range (first minutes after market open)
- Morning Range (a defined morning session)
- Yesterday Afternoon Range
- London Range
- New York Midnight Open
- Opening Gap range (between sessions)
- New Week Opening Gap (special weekly gap)

You can toggle each section ON/OFF and customize the colors, line widths, label offsets, and vertical markers.


WHAT YOU SEE ON THE CHART
For each enabled range/level, the script draws:
- Horizontal lines extending to the right
- Short labels (example: YH, YL, DH, DL, OH, OL, MH, ML, etc.)
- Optional vertical start/end lines for session windows
- Optional boxes for gap zones (Opening Gap / New Week Opening Gap)


HOW THE LEVELS ARE CALCULATED
Daily:
- Daily High (DH) and Daily Low (DL) come from the current day’s daily data.

Yesterday:
- Yesterday High (YH), Yesterday Low (YL), Yesterday Close (YC), and Yesterday Mid (YM).

Weekly:
- Weekly High (WH) and Weekly Low (WL) are calculated from recent daily highs/lows.

Session ranges (intraday):
- Opening Range: uses the Open Range Time window (default 09:30–10:05).
- Morning Range: uses the Morning Range Time window (default 09:30–12:00).
- London Range: uses the London Range Time window (default 02:00–05:00).
- Yesterday Afternoon Range: uses the specified afternoon window (default 13:30–16:00).
- NY Midnight Open: captures the open price during the midnight window (default 00:00–00:05).

Gap levels:
- Opening Gap Range: tracks high/low during the gap session window (default 16:15–09:30).
- New Week Opening Gap: captures the gap between the last price and the new week open.


BEST WAY TO USE IT
Use this as a structure tool for:
- Seeing where price is likely to react (session highs/lows)
- Planning breakouts (Opening Range / Morning Range)
- Identifying mean-reversion zones (yesterday levels, midpoints)
- Tracking gaps and fills (Opening Gap / New Week Opening Gap)

Common approaches:
- Breakout: wait for price to break ORH/ORL with momentum
- Reversal: watch for rejection at YH/YL or DH/DL
- Gap play: watch for fills and reactions around gap boundaries


SETTINGS YOU SHOULD TOUCH FIRST
1) Timezone
- Match your market session timezone (default is GMT-4).

2) Market Hours + Session Windows
- Adjust if you trade a different exchange or instrument.

3) Toggles
- Turn OFF anything you do not need to reduce chart clutter.

4) Label Offsets
- Increase offsets if labels overlap your candles.


IMPORTANT NOTES
- Session ranges (Opening/Morning/London/etc.) work best on minute/second charts.
- If you use higher timeframes, some session-based logic will not display the same way.
- This indicator is a visual levels tool only. It does not generate trade signals.