ICT NEW YORK MIDNIGHT OPEN AND 8.30 AM OPEN

The ICT NEW YORK MIDNIGHT OPEN AND 8.30 AM OPEN indicator highlights the opening price of the New York midnight session and the 8:30 AM session to help traders identify key institutional reference points.

Usage

The Usage section focuses on identifying price levels that act as the "true" opening of the daily and morning sessions in the ICT methodology. Traders can use these levels to determine directional bias, as price trading above the Midnight Open is often considered in a premium, while trading below it is considered in a discount for that daily range.

Examples of usage include:

• Daily Bias: Observing how price reacts to the Midnight Open to determine if the day is likely to be bullish or bearish.
• Session Entry: Using the 8:30 AM Open as a catalyst for volatility during the New York morning session.
• Price Sensitivity: Monitoring price crosses at these levels for potential reversals or continuations.

Details

The script utilizes session-based calculations to capture the exact opening price at 00:00 and 08:30 New York time. To ensure accuracy, the chart should be set to the New York (UTC-4 or UTC-5) timezone. The indicator draws horizontal lines from the opening time across the session, providing a visual "opening price" benchmark. It also includes an optional vertical day divider at midnight to clearly separate trading days.

Settings

New York Midnight Day Divider

• Display: Toggles the vertical line representing the start of the New York day.
• Color: Sets the color of the vertical day divider.
• Line Style: Chooses between Solid, Dotted, or Dashed for the divider.

New York Midnight Open

• Session: Defines the time range for the midnight open (default 00:00).
• Line Style: Sets the visual style of the horizontal open line.
• Color: Sets the color for the Midnight Open level.
• History: Toggles whether to show previous days' midnight levels or only the current one.
• Show Label: Enables or disables the "Midnight" text label.

New York 8:30 Open

• Display: Toggles the visibility of the 8:30 AM opening level.
• Session: Defines the time range for the morning open (default 08:30).
• Line Style: Sets the visual style of the 8:30 AM open line.
• Color: Sets the color for the 8:30 AM Open level.
• History: Toggles whether to show previous days' 8:30 AM levels.
• Show Label: Enables or disables the "8:30" text label.

FAQ

How do I use this with my local timezone?

For the most accurate results aligned with ICT concepts, it is recommended to set your TradingView chart timezone to New York (Exchange time).

Can I set alerts for these levels?

Yes, the script includes built-in alert conditions that trigger when the price crosses either the Midnight Open or the 8:30 AM Open levels.

How can I access the ICT NEW YORK MIDNIGHT OPEN AND 8.30 AM OPEN?

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