10am Breakout

The 10am Breakout indicator is a session-based trading tool that helps traders frame market direction after the 09:00–10:00 New York hour by identifying breakout levels and subsequent institutional inefficiencies. It establishes an anchor range and monitors for price expansion to provide a clear intraday directional bias.

Usage

The indicator is best utilized on intraday timeframes (1m, 3m, 5m, or 15m). After the 09:00–10:00 NY range is established, the tool monitors for a candle to close outside this boundary.

• Bullish Bias: Established when price closes above the high of the 09:00 range. This is marked with a green dot below the candle and updates the bias label to "Bullish".
• Bearish Bias: Established when price closes below the low of the 09:00 range. This is marked with a red dot above the candle and updates the bias label to "Bearish".
• Fair Value Gaps (FVGs): Once a bias is confirmed, the indicator filters for FVGs that align with the breakout direction. For example, in a bullish breakout, only bullish FVGs are plotted. These can be used to frame continuation entries.

Details

The script operates on three distinct phases:

1. Range Building: It tracks the absolute high and low during the specified "Anchor Hour Session" (default 09:00–10:00 NY).
2. Breakout Identification: It filters for the first valid candle close outside the established range to prevent false signals from mere wicks.
3. Trend Filtering: By scanning for same-direction FVGs, the tool emphasizes trend-aligned order flow. FVGs are extended until they are fully filled or until the 16:00 NY cutoff time, providing clean visual focus on active liquidity gaps.

Settings

Main Settings

• Show 09:00 Anchor Range: Toggles the visibility of the range high and low lines.
• Shade Anchor Hour: Adds a background highlight to the 09:00–10:00 window.
• Fill Between High/Low: Fills the interior of the range during the anchor hour.
• Show Breakout Dots: Displays dots on the chart when the initial breakout close occurs.
• Show Bias Text: Displays a dashboard in the top-right corner indicating current market bias.

FVG Settings

• Show FVGs After Outside Close: Enables the plotting of Fair Value Gaps once a bias is set.
• Extend FVGs Until 16:00 or Filled: Determines if FVG boxes should continue to the right until mitigated.
• Hide Fully Filled FVGs: Automatically removes FVG boxes once price has completely retraced through them.
• Max Active FVGs: Limits the number of concurrent boxes to maintain chart performance.

Session & Visuals

• Timezone: Sets the reference timezone (default "America/New_York").
• Anchor Hour Session: Defines the time range used to build the initial bracket.
• Colors: Customizable inputs for the anchor range, breakout dots, and FVG boxes.

FAQ

How do I use this for entries? The tool is designed to provide context. Traders often wait for a breakout close to confirm bias, then look for entries within the same-direction FVGs provided by the script.

Can I change the anchor time? Yes, the "Anchor Hour Session" setting allows you to define any 1-hour window (or different duration) to suit different session opens like London or Tokyo.

How do I access 10am Breakout? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.