Sessions & Key Levels {basic}

The Sessions & Key Levels {basic} indicator provides a streamlined framework for identifying intraday trading sessions and essential higher timeframe reference levels. It is designed to offer clear visual structure without cluttering the chart, making it an essential tool for traders focusing on session-based liquidity and structural price pivots.

Usage

The Usage section highlights how to leverage the session and timeframe-based levels for daily analysis.

• Intraday Sessions: Traders can enable Asia, London, and New York session boxes. These boxes dynamically update their highs and lows in real-time, allowing users to see exactly where liquidity is building or being swept during active hours.
• Key Reference Levels: The tool plots Open, High, Low, and Midpoint (½) levels for both the current and previous periods. These are frequently used to establish a daily bias or to find high-probability entry and exit zones.
• Visual Organization: By using the integrated theme support (Dark, Light, or Custom), traders can ensure that session boxes and labels remain readable regardless of their chart's background settings.

Details

The indicator is built to be efficient, utilizing a maximum count of lines and boxes to maintain historical reference without impacting performance.

• Session Logic: Sessions are defined by user-input strings and time ranges. The script detects the start of a session and begins tracking the high and low range immediately, drawing a visual box that encapsulates the price action.
• Timeframe Calculation: For previous and current period levels, the script fetches data from higher timeframes (e.g., Daily, 4-hour, 1-hour). The midpoint is calculated as the average of the period's high and low, providing a "mean" reference point for the timeframe.
• Sweep Detection: If enabled, the script can identify when price action "sweeps" or exceeds a session high/low, which is often interpreted by traders as a liquidity grab.

Settings

Session Windows

• Show Asia/London/NY: Toggles the visibility of specific trading sessions.
• Session Times: Configurable time ranges for each session.
• Session Colors: Customizable background colors for session boxes (available in "Custom" theme).

Session Levels

• O, H, L, ½: Toggles for showing the Open, High, Low, and Midpoint levels for each active session.

Previous & Current Levels

• Timeframe Selection: Choose from 12M down to 15m for reference levels.
• Level Toggles (O, H, L, ½): Individual switches to display the Open, High, Low, or Midpoint for the selected timeframe.

Line Customization

• Color, Style, and Width: Global settings to adjust the appearance (Solid, Dashed, Dotted) and thickness (1px to 4px) of the Open, High, Low, and Midpoint lines.

FAQ

How do I access the Sessions & Key Levels {basic} indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I track multiple timeframes at once? Yes, the indicator allows you to configure up to three different timeframes for both current and previous levels simultaneously.

Does this indicator provide trading signals? No, this is a visual charting tool designed for structural analysis. It highlights key price levels and sessions to assist in manual trade planning.