ALN Sessions

The ALN Sessions indicator visualizes Asia and London session ranges on NQ futures and overlays statistical probability levels for session high/low sweeps based on 10 years of historical data. This tool helps intraday traders identify the likelihood of price returning to specific intraday levels using pattern-based research from NQ Stats.

Usage

The Usage section focuses on interpreting the session boxes and the statistical probability labels that appear once the London session concludes.

• Statistical Labels: When the London session ends, two horizontal lines appear at the London High and London Low. These are labeled with percentages representing how often price has historically returned to sweep that level.
• Dynamic Probability Updates: If one level is breached, the label updates to "[Done]" in blue. Simultaneously, the probability for the remaining level updates to a conditional probability, showing a delta (e.g., [+19%]) that reflects the change in odds now that the first level has been hit.
• Contextual Patterns: The tool automatically detects one of four relationships between the Asia and London sessions to determine the specific probability values:
  • London Engulfs Asia: London trades both above and below the Asia range.
  • Asia Engulfs London: Asia's range fully contains the London range.
  • London High Break: London breaks only the Asia high.
  • London Low Break: London breaks only the Asia low.

Details

The script uses a dataset derived from 10 years of NQ (NASDAQ-100) historical data provided by NQ Stats. It is specifically designed for NQ futures, and its performance on other assets is untested. All session calculations and displays are based on New York time.

The indicator is structured as a statistical study rather than a directional signal. It quantifies historical tendencies within the specific context of overnight and early morning session structures. The execution relies on identifying the high and low points of the Asia (20:00–02:00) and London (02:00–08:00) windows.

Settings

Session Settings

• Asia Session: Adjust the color, session time window, and label text for the Asia session box.
• London Session: Adjust the color, session time window, and label text for the London session box.

Customization

• Label Size: Sets the size of the probability labels (Tiny, Small, Normal, Large).
• Border: Toggles the session box borders and allows customization of the style (Solid, Dashed, Dotted) and width.
• Probability Lines: Toggles the statistical level lines. Includes options for Auto/manual color, line style, and width.
• Daily Dividers: Toggles vertical separators for each trading day, including color and line style options.

FAQ

How do I interpret the percentage numbers on the lines? The percentages represent the historical frequency with which price has reached that specific London session level after the London close, based on the current day's price action pattern.

Why does the probability change after a level is hit? The script calculates conditional probability. Historically, the odds of price sweeping the second level (e.g., London Low) change once the first level (e.g., London High) has already been cleared.

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