OPEN-SOURCE SCRIPT
Cobalt Session Ledger [JOAT]
Cobalt Session Ledger [JOAT]
Introduction
Cobalt Session Ledger is an open-source intraday context indicator focused on session VWAP, synthetic volume delta, liquidity sweeps, absorption, and managed visual trade mapping. It is designed to help users read whether current price action is extending, reverting, sweeping liquidity, or building pressure around the active session's value area.
The script uses a modern dark chart style with cyan, teal, red, amber, and violet accents. It includes VWAP sigma bands, session CVD, sweep and absorption markers, candle coloring, reward/risk boxes, right-side entry/stop/target labels, and a top-right dashboard.
Core Concepts
1. Session VWAP and Sigma Bands
The session engine accumulates price-volume data during the configured session and computes VWAP. It also derives deviation bands around VWAP so price can be evaluated in sigma terms rather than raw distance.
Pine Script®
2. Synthetic Delta and Session CVD
Because TradingView symbols often lack true bid/ask delta, the script estimates directional pressure from candle body position, close position, range, and volume. That value is accumulated into a session CVD line and smoothed for dashboard and signal context.
3. Liquidity Sweep Detection
Confirmed sweeps occur when price probes beyond a recent swing high or low and closes back through it with directional rejection. These events are shown with clean square/circle markers rather than arrows.
4. Absorption and Wick Skew
Absorption combines volume expansion, compact candle range, and close location. Wick skew helps describe whether rejection is occurring from the upper or lower side of the candle.
5. Managed Ledger Map
When a confirmed ledger signal appears, the indicator can draw a reward zone, risk zone, entry line, stop line, and T1/T2/T3 targets at the right edge. These are visual planning aids, not executed orders.
Features
Input Parameters
Session:
Liquidity and Absorption:
Trade Map:
How to Use This Indicator
Step 1: Start with VWAP
Read whether price is above, below, or stretched from session VWAP.
Step 2: Confirm pressure
Use the CVD and delta rows to determine whether volume pressure supports the price location.
Step 3: Watch sweeps and absorption
Sweep and absorption events can mark potential exhaustion or reclaim zones.
Step 4: Treat trade boxes as planning overlays
The ledger box gives a structured visual reference for risk and reward. It does not ensure that the market will reach any level.
Indicator Limitations
Originality Statement
Cobalt Session Ledger combines session VWAP sigma analysis, synthetic CVD, sweep/reclaim logic, absorption detection, wick skew, confidence scoring, candle tinting, and managed visual trade mapping into a single open-source Pine v6 session tool. The components work together to classify session pressure and price location rather than act as unrelated overlays.
Disclaimer
This script is for educational and informational use only. It is not financial advice or a recommendation to buy or sell any instrument. Trading involves risk, and historical context does not ensure future behavior.
-Made with passion by jackofalltrades
Introduction
Cobalt Session Ledger is an open-source intraday context indicator focused on session VWAP, synthetic volume delta, liquidity sweeps, absorption, and managed visual trade mapping. It is designed to help users read whether current price action is extending, reverting, sweeping liquidity, or building pressure around the active session's value area.
The script uses a modern dark chart style with cyan, teal, red, amber, and violet accents. It includes VWAP sigma bands, session CVD, sweep and absorption markers, candle coloring, reward/risk boxes, right-side entry/stop/target labels, and a top-right dashboard.
Core Concepts
1. Session VWAP and Sigma Bands
The session engine accumulates price-volume data during the configured session and computes VWAP. It also derives deviation bands around VWAP so price can be evaluated in sigma terms rather than raw distance.
2. Synthetic Delta and Session CVD
Because TradingView symbols often lack true bid/ask delta, the script estimates directional pressure from candle body position, close position, range, and volume. That value is accumulated into a session CVD line and smoothed for dashboard and signal context.
3. Liquidity Sweep Detection
Confirmed sweeps occur when price probes beyond a recent swing high or low and closes back through it with directional rejection. These events are shown with clean square/circle markers rather than arrows.
4. Absorption and Wick Skew
Absorption combines volume expansion, compact candle range, and close location. Wick skew helps describe whether rejection is occurring from the upper or lower side of the candle.
5. Managed Ledger Map
When a confirmed ledger signal appears, the indicator can draw a reward zone, risk zone, entry line, stop line, and T1/T2/T3 targets at the right edge. These are visual planning aids, not executed orders.
Features
- Session VWAP engine: Uses the configured session and timezone
- VWAP sigma rails: Displays inner and outer VWAP deviation shells
- Session CVD: Tracks synthetic volume pressure during the session
- Liquidity sweeps: Detects confirmed reclaim/rejection events around recent pivots
- Absorption markers: Highlights volume compression and close-location absorption
- Confidence scoring: Combines VWAP, delta, structure, absorption, volume, and session context
- Managed trade map: Draws entry, stop, T1, T2, T3, reward box, and risk box
- Candle tinting: Colors bars based on confidence and directional pressure
- Top-right dashboard: Shows VWAP, CVD, delta, liquidity, confidence, sigma, entry, targets, and session range
- Confirmed-bar signals: Ledger signals are gated with barstate.isconfirmed
Input Parameters
Session:
- Session Window
- Session Timezone
Liquidity and Absorption:
- Liquidity Pivot Length
- Volume Spike Multiplier
- Absorption Range Ceiling
- Bull/Bear Absorption Close Bias
Trade Map:
- Show Managed Trade Map
- Show Right-Side Price Labels
- Trade Box Projection Bars
- Target 1, 2, and 3 R multiples
- Signal Cooldown Bars
How to Use This Indicator
Step 1: Start with VWAP
Read whether price is above, below, or stretched from session VWAP.
Step 2: Confirm pressure
Use the CVD and delta rows to determine whether volume pressure supports the price location.
Step 3: Watch sweeps and absorption
Sweep and absorption events can mark potential exhaustion or reclaim zones.
Step 4: Treat trade boxes as planning overlays
The ledger box gives a structured visual reference for risk and reward. It does not ensure that the market will reach any level.
Indicator Limitations
- Synthetic delta is an estimate, not true exchange bid/ask delta
- Signals are session-context tools, not automatic trade instructions
- Quiet symbols and low-volume sessions can reduce signal quality
- The managed trade map is visual only
Originality Statement
Cobalt Session Ledger combines session VWAP sigma analysis, synthetic CVD, sweep/reclaim logic, absorption detection, wick skew, confidence scoring, candle tinting, and managed visual trade mapping into a single open-source Pine v6 session tool. The components work together to classify session pressure and price location rather than act as unrelated overlays.
Disclaimer
This script is for educational and informational use only. It is not financial advice or a recommendation to buy or sell any instrument. Trading involves risk, and historical context does not ensure future behavior.
-Made with passion by jackofalltrades
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.