OPEN-SOURCE SCRIPT
Intraday Liquidity Sessions [dpTrades]
Intraday Liquidity Sessions [dpTrades]
WHAT IT IS
An intraday view of session liquidity. It draws the New York, London and Tokyo sessions, and
adds an analytics layer that plain session tools do not have: it marks when a session runs the
liquidity left by its own previous instance, and reports whether each session is expanding or
compressing relative to its own recent behaviour. "Liquidity" here means the session highs and
lows that resting orders sit against, not a volume heatmap.
WHY THESE COMPONENTS BELONG TOGETHER
Session boxes on their own only tell you when a session happened. The information a trader
actually needs is what that session is doing relative to what the same session normally does,
and whether it has taken out the level the previous one left behind. Those two readings are
only meaningful in the context of the session they belong to, which is why the drawing layer
and the analytics layer are one script rather than two: the ranges, the averages and the sweep
detection are all computed from the same per-session state.
METHOD
Each session is tracked independently, with its own state:
- Range tracking: while a session is open, the script keeps its running high and low, and the
price at which the session opened.
- Previous-instance memory: when a session closes, its high and low are stored as the reference
for the next instance of that same session.
- Rolling average: the range of each completed session is folded into a rolling average over a
configurable number of past instances (default 20). The current session's range against that
average is what classifies it as expanding or compressing. The comparison is always a session
against itself, never against another, since Tokyo and New York are not comparable in size.
- Directional bias: measured as the current close against the session's own opening price.
- Liquidity sweep: while a session is open, price is checked against the high and the low left
by the previous instance of that same session. When it trades through one of them, the event
is marked on the chart and flagged in the table.
Session hours are timezone-aware, so the windows stay correct regardless of the exchange
timezone of the charted symbol.
HOW TO USE IT
Read the table first. A session opening expanded versus its own average usually means
participation is above normal; a compressed one often precedes a range. The bias column shows
which way that session has leaned since its open. The sweep marker tells you the previous
session's liquidity has already been taken, which is context rather than a signal.
Sessions, hours, colours and drawing style are configurable. The default set is New York,
London and Tokyo in New York time, each shown in its own colour so they are easy to tell apart.
LIMITATIONS
- Intraday timeframes only. On daily and above there are no session windows to resolve.
- While a session is still open its range, bias and stats update in real time as price moves.
They are final only once the session closes.
- The rolling average needs several completed sessions before expanding or compressing means
anything. Early in the chart history it will be unreliable.
- A liquidity sweep describes what already happened, not a prediction. It marks that a level was
taken, nothing more.
- This is a context tool. It produces no entries, no exits and no buy or sell signals.
Educational content only. Not financial advice. Trade at your own risk.
WHAT IT IS
An intraday view of session liquidity. It draws the New York, London and Tokyo sessions, and
adds an analytics layer that plain session tools do not have: it marks when a session runs the
liquidity left by its own previous instance, and reports whether each session is expanding or
compressing relative to its own recent behaviour. "Liquidity" here means the session highs and
lows that resting orders sit against, not a volume heatmap.
WHY THESE COMPONENTS BELONG TOGETHER
Session boxes on their own only tell you when a session happened. The information a trader
actually needs is what that session is doing relative to what the same session normally does,
and whether it has taken out the level the previous one left behind. Those two readings are
only meaningful in the context of the session they belong to, which is why the drawing layer
and the analytics layer are one script rather than two: the ranges, the averages and the sweep
detection are all computed from the same per-session state.
METHOD
Each session is tracked independently, with its own state:
- Range tracking: while a session is open, the script keeps its running high and low, and the
price at which the session opened.
- Previous-instance memory: when a session closes, its high and low are stored as the reference
for the next instance of that same session.
- Rolling average: the range of each completed session is folded into a rolling average over a
configurable number of past instances (default 20). The current session's range against that
average is what classifies it as expanding or compressing. The comparison is always a session
against itself, never against another, since Tokyo and New York are not comparable in size.
- Directional bias: measured as the current close against the session's own opening price.
- Liquidity sweep: while a session is open, price is checked against the high and the low left
by the previous instance of that same session. When it trades through one of them, the event
is marked on the chart and flagged in the table.
Session hours are timezone-aware, so the windows stay correct regardless of the exchange
timezone of the charted symbol.
HOW TO USE IT
Read the table first. A session opening expanded versus its own average usually means
participation is above normal; a compressed one often precedes a range. The bias column shows
which way that session has leaned since its open. The sweep marker tells you the previous
session's liquidity has already been taken, which is context rather than a signal.
Sessions, hours, colours and drawing style are configurable. The default set is New York,
London and Tokyo in New York time, each shown in its own colour so they are easy to tell apart.
LIMITATIONS
- Intraday timeframes only. On daily and above there are no session windows to resolve.
- While a session is still open its range, bias and stats update in real time as price moves.
They are final only once the session closes.
- The rolling average needs several completed sessions before expanding or compressing means
anything. Early in the chart history it will be unreliable.
- A liquidity sweep describes what already happened, not a prediction. It marks that a level was
taken, nothing more.
- This is a context tool. It produces no entries, no exits and no buy or sell signals.
Educational content only. Not financial advice. Trade at your own risk.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
© dpTrades - discord.gg/Aa3hSe6Byn
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
© dpTrades - discord.gg/Aa3hSe6Byn
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.