First 5-Min Candle

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**First 5-Min Candle**

A clean intraday bias indicator built around one simple idea: the first 5-minute candle of the regular session (9:30-9:35 AM ET) sets the tone for the day.

**How it works**

The indicator captures the open and close of the opening 5-minute candle and projects it as a shaded box across the rest of the session. The box acts as your anchor zone — a reference point for support, resistance, and directional bias.

- Green box = bullish opening candle (close > open)
- Red box = bearish opening candle (close < open)

Two vertical time markers help structure your trading window:
- **Decision** (10:00 AM ET) — end of the observation period
- **Target** (11:30 AM ET) — minimum hold target for the trade

**Dynamic bias label**

After the decision time, a live LONG / SHORT / WAIT label tracks the current bar's close relative to the opening range:
- Close above the box = LONG
- Close below the box = SHORT
- Close inside the box = WAIT

The label updates dynamically on every bar, so it adapts to price reclaiming or losing the range — no static snapshots that get burned by manipulation candles.

**How to use it**

1. Let the 9:30 candle print and establish the range
2. Watch price action from 9:30-10:00 relative to the box
3. If price holds above the box or uses it as support, look for long entries
4. If price stays below or treats the box as resistance, look for short entries
5. Hold the position until at least the 11:30 target marker

**Settings**
- Session start time (default: 9:30 AM ET)
- Decision time offset (default: 30 minutes after open)
- Target time offset (default: 120 minutes after open)

Displays on today's session only to keep your chart clean. Works on any intraday timeframe.

Notes de version

**First 5-Min Candle**

A clean intraday bias indicator built around one simple idea: the first 5-minute candle of the regular session (9:30–9:35 AM ET) sets the tone for the day.

**How it works**

The indicator captures the open and close of the opening 5-minute candle and projects it as a shaded box across the rest of the session. The box acts as your anchor zone — a reference point for support, resistance, and directional bias.

- Green box = bullish opening candle (close > open)
- Red box = bearish opening candle (close < open)

**Time markers**

Three vertical dashed lines mark key times in the session, bounded to the day's high and low:

- **10:00 AM ET** (gray) — end of the initial observation window
- **11:30 AM ET** (red) — AM session target
- **3:30 PM ET** (red) — PM session target

**Dynamic bias label**

After 10:00 AM, a LONG / SHORT / WAIT label tracks the confirmed directional bias. The label is pinned to the bar where the last bias decision was made.

When the bias needs to flip (e.g., from SHORT to LONG), the indicator requires confirmation before committing. There are two paths to confirm a flip:

1. **Retest & hold** — price dips back to the reclaim candle's low (or the box itself) and closes on the right side of the box
2. **Continuation** — two consecutive closes beyond the box after the reclaim, showing sustained momentum without needing a deep pullback

Until confirmation arrives, the label shows WAIT. This filters out manipulation candles and false breakouts — if price reclaims the box but immediately reverses, the indicator won't whipsaw into a bad call.

**How to use it**

1. Let the 9:30 candle print and establish the range
2. Watch price action from 9:30–10:00 relative to the box
3. If price holds above the box or uses it as support, look for long entries
4. If price stays below or treats the box as resistance, look for short entries
5. Use the AM target (11:30) as a minimum hold for the first move
6. Use the PM target (3:30) for afternoon continuation or second entries

**Settings**

- Session start time (default: 9:30 AM ET)
- Decision time offset (default: 30 minutes after open)

Displays on today's session only to keep your chart clean. Works on any intraday timeframe.

Script open-source

Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.

SaltyHeir

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Script open-source

SaltyHeir