First 15-Min Candle Detector [With Breakout Alerts]

The First 15-Min Candle Detector [With Breakout Alerts] indicator automatically identifies and plots the high, low, and mid-point of the opening 15-minute range of a market session to help traders identify key intraday support and resistance levels.

Usage

The indicator is designed for intraday traders who rely on opening range breakouts or mean reversion strategies. Once the market opens at the user-defined time, the script monitors the first 15 minutes of price action and locks in the high and low values.

• Opening Range Support/Resistance: Traders can use the high and low lines as dynamic levels where price might find rejection or support.
• Breakout Trading: A close above the high or below the low of the first 15-minute candle can signal early session momentum.
• Mid-point Reversion: The mid-line provides a secondary level of interest for traders looking for pullbacks or equilibrium within the initial range.

Details

The script functions by tracking price action during a specific window (15 minutes) starting from the configured "Market Start Hour" and "Market Start Minute". It calculates the highest high and lowest low during this period and then derives the mid-point. Once the 15-minute window expires, the script draws horizontal lines that extend to the right of the chart for the remainder of the session. The indicator automatically resets and recalculates at the start of every new session, ensuring that only current levels are displayed.

Settings

Market Settings

• Market Start Hour: Sets the hour (0-23) for the session start in the exchange's timezone.
• Market Start Minute: Sets the minute (0-59) for the session start.

Visual Settings

• Show Background: Toggles the highlighting of the background during the initial 15-minute window.
• Background Color: Adjusts the color and transparency of the initial window highlight.
• High Line Color: Sets the color for the range high.
• Low Line Color: Sets the color for the range low.
• Mid Line Color: Sets the color for the mid-point line.
• Line Width: Adjusts the thickness of the horizontal levels.
• Show Mid Line: Toggles the visibility of the calculated mid-point.

Alert Settings

• Enable Breakout Alerts: Activates real-time notifications for price crossing the range boundaries.
• High Breakout Message: Custom text for alerts when price breaks above the high.
• Low Breakout Message: Custom text for alerts when price breaks below the low.

FAQ

How do I use this indicator?

You can use it to identify the initial balance of the day and look for breakout opportunities or retests of the 15-minute range levels.

Does it work on all timeframes?

The indicator is specifically designed for intraday timeframes of 15 minutes or lower. It will not display data on higher timeframes like the Hourly or Daily.

How can I access this tool?

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