Bitcoin Kill Zones v3
Apr 9, 2018
The Bitcoin Kill Zones v3 indicator highlights key trading sessions and high-volatility periods throughout the 24/7 cryptocurrency market.
Usage
The tool is designed to identify specific "Kill Zones"—periods where institutional activity and liquidity often result in significant price movements. Users can utilize these zones to time their entries or anticipate market reversals. For example, the London Open Kill Zone often sets the initial trend for the day, while the New York Kill Zone can provide a secondary push or a complete trend reversal.
The indicator includes a 7-day week calculation, making it specifically tailored for the continuous trading nature of Bitcoin and other digital assets.
Details
This script is an evolution of the Bitcoin Kill Zones concepts, incorporating logic for New York Close sessions and automatic Daylight Saving Time (DST) adjustments. It uses UTC and America/New_York time offsets to ensure the zones align correctly with global financial centers. The "Real Open Session Alert Bar" feature highlights the very beginning of these sessions with a distinct color, signaling the immediate start of potential volatility.
Settings
- New York Kill Zone: Toggles the visibility of the primary New York trading session.
- New York Close Kill Zone: Toggles the visibility of the New York market close period.
- London Open Kill Zone: Toggles the visibility of the London market opening period.
- London Close Kill Zone: Toggles the visibility of the London market closing period.
- Asia Kill Zone: Toggles the visibility of the Asian trading session.
- Real Open Session Alert Bar: Highlights the initial bars of a session for better visual timing.
- Use light mode?: Adjusts the background colors for better visibility on light-themed charts.
- Input maximum viewed timeframe: Sets the upper limit for the timeframe visibility to prevent chart clutter on higher intervals.
FAQ
How do I use the different color zones?
Each color represents a specific global market session. Traders often look for "Judas Swings" or liquidity grabs that occur specifically within these highlighted boxes.
Does this handle Daylight Saving Time?
Yes, the script includes logic to detect and adjust for DST automatically based on the difference between UTC and New York time.
How can I access Bitcoin Kill Zones v3?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
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