ICT NY Midnight Open and Divider

The ICT NY Midnight Open indicator plots the New York midnight opening price and provides a vertical session divider to help day traders identify key intraday institutional reference levels.

Usage

The Usage section describes how the script can be used to identify high-probability trading zones. Traders often monitor the New York 12:00 AM open as a "true" daily open, frequently used in Inner Circle Trader (ICT) methodologies to determine daily bias and potential manipulation phases (Judas Swings).

• Entry Levels: Prices trading above the Midnight Open are often considered overbought for the day (premium), while prices below are considered oversold (discount), depending on the higher-timeframe bias.
• Order Blocks: The level often acts as a magnet or a pivot point where order blocks may form during the London or New York sessions.
• Vertical Dividers: The vertical lines help visually separate trading days and mark the exact start of the New York session cycle.

Details

The script calculates the New York Midnight Open price based on a specific session input. It utilizes the time() function to detect the start of the defined session and captures the opening price at that specific timestamp. To ensure accuracy across various instruments, the tool allows for timezone adjustments, as exchange times can vary. The indicator is designed for lower timeframe analysis, specifically 1-hour charts and below, where intraday price action is most relevant.

Settings

• New York Session: Sets the time range for the New York open (default is 00:00-00:01).
• Timezone: Adjusts the offset to match the New York time (default GMT-4).
• VLine: Toggles the visibility, color, and style (Solid, Dotted, Dashed) of the vertical session divider.
• HLine: Toggles the horizontal price line for the Midnight Open, including color and style options.
• Extend: Controls how far the horizontal line extends (1 Day, 2 Days, Right, or Both).
• Hours: Optionally restricts the horizontal line extension to a specific number of hours.

FAQ

How do I access the ICT NY Midnight Open?

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

Why is the line not appearing at the correct time?

Different exchanges use different timezones. You may need to adjust the "Timezone" or "New York Session" input settings to align with your specific symbol's data feed.

Does this work on daily charts?

No, this indicator is specifically designed for intraday timeframes (1-hour and below) to capture the granular price action around the midnight transition.