session min/max support&resistance

The session min/max support&resistance indicator identifies and projects key price levels from specific trading sessions to help traders visualize historical support and resistance zones. It automatically calculates the high, low, and open prices for a user-defined session interval, rendering lines that persist until mitigated by price action or according to specific user constraints.

Usage

The Usage section describes how the script can be used to identify key inflection points based on session extremes. Traders can use this tool to spot unmitigated session highs and lows, which often act as magnetic levels or areas of liquidity.

• Identifying Support and Resistance: The indicator plots lines at the highest and lowest points of a completed session. These lines serve as potential support or resistance in future sessions.
• Session Open Levels: A dedicated line is drawn at the start of the session (open price), which can be used to gauge intraday bias.
• Granular Level Control: Users can control exactly how many historical levels are displayed on the chart to prevent clutter while maintaining focus on the most relevant price data.
• Line Mitigation: By default, lines extend until the price crosses them, allowing traders to see which historical levels have not yet been "retested" or "filled."

Details

The script operates by tracking price action within a specific i_session time window. At the conclusion of the session, it identifies the exact bar index and price of the session high and low.

The implementation utilizes arrays to manage line and label objects, ensuring that the chart only displays the most recent number of levels specified in the settings. The extension logic checks on every bar if the current high or low has intercepted an active line; depending on the "Delete lines" or "Extend lines" settings, the indicator will either stop extending the line, remove it, or continue projecting it indefinitely.

Settings

General Setting

• Session: Defines the time range (in UTC) for the session to be analyzed.
• Show labels: Toggles the visibility of price labels next to the session lines.
• Delete lines: If enabled, lines will be removed from the chart entirely once price crosses them.

High/Low Line Settings

• Line count: Sets the maximum number of high and low session lines to display on the chart.
• Extend lines: When enabled, lines extend indefinitely regardless of whether price has crossed them.
• Line thickness/style: Customizes the visual weight and pattern (dotted, solid, dashed) of the levels.
• Up/Bottom color: Adjusts the colors used for session highs (Up) and session lows (Bottom).

Open Line Settings

• Line count: Sets the number of session open price levels to display.
• Extend lines: Controls whether the open price line projects indefinitely or stops upon price mitigation.
• Open session line color: Sets the color for the session start price level.

FAQ

How can I change the session time?

You can modify the "Session" input in the General Settings group using the "HHMM-HHMM" format to match your desired trading hours.

Why do some lines disappear?

Lines may disappear if the "Delete lines" setting is enabled and the price has touched or crossed that specific level. Alternatively, if you reach the "Line count" limit, the oldest lines are removed to make room for new ones.

How do I access this tool?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.