Session Breakout Detector (SBD)

The Session Breakout Detector (SBD) indicator identifies and visualizes price breakouts from major global trading sessions to help traders spot high-probability momentum shifts.

Usage

The tool allows traders to track the Tokyo, London, or New York sessions and receive signals when price moves beyond the established high or low of that specific time window.

Examples of how to use the indicator:

• Trend Confirmation: Use the breakout signals in conjunction with the optional 50-period SMA to ensure you are trading in the direction of the broader trend.
• Session Statistics: Enable the session stats table to monitor the session range and current outcome (bullish/bearish) relative to the session open.
• Execution Styles: Choose "By confirmed bar" for a more conservative approach that waits for a candle close outside the range, or "By intrabars" for aggressive entries as soon as the level is touched.

Details

The script functions by defining specific time ranges for the three major global sessions (Tokyo, London, and New York). During the active session hours, it dynamically tracks the maximum high and minimum low, visualizing the range with a colored box. Once the session concludes, the script monitors incoming price action against these boundaries. Breakouts are only signaled after the session has ended to ensure the range is fully established. The tool also includes logic to prevent multiple signals from the same session breakout, ensuring clarity on the chart.

Settings

Main Settings

• Session: Selects which trading session to track (London, New York, or Tokyo).
• Show session stats: Toggles the visibility of a dashboard showing session high, low, range, and current outcome.
• Breakout type: Switches between "By confirmed bar" (requires a candle close beyond the range) and "By intrabars" (triggers on price touch).
• Show 50-period SMA: Displays a 50-period Simple Moving Average on the chart for trend analysis.

FAQ

How do I access the Session Breakout Detector?

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

Can I set alerts for breakouts?

Yes, the indicator includes built-in alert conditions for both bullish and bearish breakouts that can be configured through the TradingView alerts menu.

Why does the session box change color?

The session box color changes based on the selected session (Yellow for Tokyo, Blue for London, and Red for New York) to help you quickly identify which market period is being analyzed.