Sessions and Volatility

The Sessions and Volatility indicator provides a comprehensive visualization of major trading sessions—London, New York, Tokyo, Sydney, and Frankfurt—directly on your chart. It helps traders identify key liquidity windows, daily price ranges, and current market volatility across multiple symbols through an integrated dashboard.

Usage

This tool is primarily used to identify session-specific price action and institutional trading windows. By visualizing the high and low of each session, traders can spot breakout opportunities or mean reversion points. The indicator also plots previous day, week, and month highs, lows, and opens, which serve as significant support and resistance levels.

Examples:

• Session Breakouts: Monitor the Tokyo session range and look for price to break above or below the session box during the London open.
• Multi-Symbol Volatility: Use the on-screen table to compare the current price against yesterday's range for your preferred currency pairs (e.g., GBPUSD, EURUSD).
• HTF Reference: Enable Monthly or Weekly OHL lines to see how current intraday price action reacts to higher-timeframe structural levels.

Details

The script uses request.security to fetch historical high, low, and open data for daily, weekly, and monthly intervals. Session ranges are dynamically drawn using boxes based on user-defined start and end times. The volatility table calculates the Average Daily Range (ADR) and provides a confirmation status ("High Broken", "Low Broken", or "Neutral") based on whether the current close is outside the previous day's extreme levels.

Settings

• Time Settings: Adjust the GMT offset to align the sessions with your local time. Toggle the visibility of Monthly, Weekly, and Yesterday's OHL lines.
• Session Groups (London, NY, Tokyo, etc.): Define specific start/end times, colors, border styles (Solid, Dashed, Dotted), and background transparency for each trading session.
• Table Settings: Customize the position of the data table, the ADR lookback length, and the specific symbols you wish to track.

FAQ

• How do I adjust the session times for Daylight Savings? You can manually update the start and end times in the respective session setting groups or change the GMT offset in the Time Settings.
• Can I track more than three symbols in the table? The current version is configured for three primary symbols in the table, but you can change these symbols at any time in the Table Settings.
• How can I access the Sessions and Volatility tool? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.