Session Levels Predictor
By LuxAlgoJan 30, 2024
Session Levels Predictor projects, right at the session open, how far price has typically stretched before the session ends. It records the distance between each past session's extremes and its opening price, then applies nearest-rank percentiles to that sample - the working method behind statistics of session highs and lows - so up to three upper and three lower levels print the moment your session begins, each carrying a hit-rate percentage showing how often past sessions reached it.
How to Trade the Session Levels Predictor?
- Targets and stops with base rates: the projected extremes give take-profit and stop-loss placement an empirical reference instead of a guess - the hit rate tells you how ambitious each level is.
- Percentile controls distance: each level pair has its own percentile; the closer it sits to 100, the farther that level plots from the session open.
- Levels outlive the session: projections can persist past the close and serve as support or resistance references for subsequent sessions.
Session Levels Predictor Settings
- Session: the window to analyze, aware of your local timezone.
- Percentile (Levels 1-3): sets each projection's distance - higher percentiles push levels farther out.
- Max Population: the sample size the percentiles are computed over.
- Extend Middle Line: prolongs the blue middle line into subsequent sessions (off by default).
Frequently Asked Questions
Free indicator
Get free access to this indicator on the platforms below.
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NinjaTrader
MetaTrader 4/5
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