Market Session Boxes with Volume Delta

The Market Session Boxes with Volume Delta indicator highlights the Tokyo, London, New York, and Sydney trading sessions on the chart to help traders visualize market rhythm and liquidity zones. It provides essential session-specific data, including price ranges and volume analysis, to assist in identifying intraday volatility and sentiment shifts.

Usage

The tool is primarily designed for intraday timeframes such as the 15m, 30m, and 1H charts. Traders can use the session boxes to identify key liquidity zones formed by the session highs and lows. The volume delta metric provides insight into whether bullish or bearish pressure dominated a specific session, offering an extra layer of sentiment analysis beyond simple price action.

By enabling the extension feature, users can project session extremes into future candles, helping to identify potential support and resistance levels derived from previous session volatility.

Details

The script processes four major forex sessions by monitoring time ranges in the UTC+0 timezone. For each active session, the indicator calculates:

• Price Range: Captures the high and low of the defined time period.
• Total Volume: Sums the volume traded throughout the session.
• Volume Delta: Aggregates volume based on bar polarity (close > open vs. close < open) to estimate the net buying or selling pressure.

The script uses dynamic arrays to manage session data and ensures that labels and boxes are updated in real-time as the session progresses.

Settings

Market Sessions (UTC+0)

• Tokyo/London/New York/Sydney: Toggle buttons to show or hide specific trading sessions.
• Session Time: Customizable input fields to define the start and end times for each session.
• Session Color: Color pickers to personalize the appearance of each session box.

Box Settings

• Extend Box to Future: When enabled, the script draws dashed lines from the session high and low into future bars until a new session of the same type begins.

FAQ

How do I access Market Session Boxes with Volume Delta?

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

Can I change the timezone used for the sessions?

The script is configured to use UTC+0 by default. To align with your local time, you should adjust the session start and end times in the settings according to their UTC offsets.

Does the volume delta work on all assets?

The volume delta calculation relies on the volume data provided by your data feed. It is most effective on assets with centralized volume (like Stocks or Futures) or high-quality tick volume (like certain Forex pairs).