Session Highs and Lows

The Session Highs and Lows indicator automatically identifies and projects critical price levels established during key trading sessions. These levels represent significant liquidity pools and market structure boundaries, serving as high-probability targets or areas of support and resistance for intraday traders.

Usage

The indicator provides a visual map of market structure by tracking highs and lows from specific time windows. It can be used in several ways:

• Market Bias: Use the Previous Day High/Low (PDH/PDL) to determine the macro trend. Trading above the PDH suggests a bullish bias, while trading below the PDL suggests a bearish bias.
• Liquidity Sweeps: By monitoring session levels, traders can identify "liquidity grabs." If the "Extend Through Sweeps" setting is off, the line will disappear or stop when price interacts with it, signaling that liquidity has been mitigated.
• Targeting: Unmitigated session levels (levels that haven't been touched) often act as magnets for price action and serve as objective take-profit targets.
• Session Filtering: Users can toggle between "Stock Mode" (tracking RTH and ETH) and "Forex Mode" (tracking Asia, London, and NY sessions) to match their specific asset class.

Details

The script operates by monitoring price action during user-defined time intervals. It dynamically updates the current session's high and low in real-time. Once a session concludes, the level becomes a static reference point.

The tool includes a "Visual Stagger" feature to prevent label overlapping when multiple levels are close to one another. It also features a built-in VWAP with adjustable anchor periods (Session, Week, or Month) and standard deviation bands to provide additional confluence for session-based trading strategies.

Settings

Asset Class Mode

• Stock Mode (RTH/ETH): When enabled, the indicator focuses on Regular Trading Hours and Extended Trading Hours, typically used for US equities and indices.

Timezone & Sessions

• Your Local Timezone: Sets the timezone for Monday and Previous Day lines.
• Session Inputs: Custom session times for ETH, RTH, Asia, London, and NY.

General Settings

• Show Older History: When enabled, keeps historical session lines on the chart rather than only the most recent ones.
• Extend Through Sweeps: If checked, lines extend indefinitely. If unchecked, lines stop projecting once price touches or breaks the level.
• Use Alerts: Enables notifications when session levels are breached.
• Alert Trigger: Choose between "Wick (Touch)" or "Close (Breakout)" for alert conditions.

VWAP Settings

• Show VWAP & Bands: Toggles the visibility of the Volume Weighted Average Price and its deviation bands.
• Anchor Period: Defines the reset interval for the VWAP calculation (Session, Week, or Month).

Visuals

• Stagger Lines & Labels: Offsets labels horizontally to improve readability.
• Styles: Controls for text size, line width, and visibility of price values within labels.

FAQ

How do I access the Session Highs and Lows indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I use this for both Forex and Crypto? Yes, while the default sessions are set for major Forex markets (Asia, London, NY), you can customize the session times in the settings to fit Crypto market cycles or any other instrument.

What is the difference between Wick and Close alerts? A "Wick" alert triggers the moment price touches the level, whereas a "Close" alert only triggers if the candle closes beyond the level, indicating a more confirmed breakout.