OPEN-SOURCE SCRIPT
Elite Session Volume Distribution Engine [JOAT]
Elite Session Volume Distribution Engine [JOAT]
Introduction
The Elite Session Volume Distribution Engine is an open-source indicator that combines session-based analysis (London, New York, Asian sessions) with volume distribution profiling, VWAP analysis, volume-weighted momentum indicators, and session high/low tracking. This mashup creates a comprehensive session and volume analysis system designed to identify when institutional volume enters the market during specific trading sessions and how that volume is distributed across price levels.
The indicator addresses a critical market reality: different trading sessions have distinct volume characteristics and institutional participation levels. London and New York sessions typically have highest volume and volatility, while Asian session is quieter. By tracking volume distribution, momentum, and key levels within each session, this tool helps traders identify optimal trading windows and understand how institutional volume shapes price action during different global market hours.
Chart showing session boxes, volume distribution, and VWAP on 45M timeframe
Why This Mashup Exists
This indicator combines five analytical frameworks that address different aspects of session-based trading:
Each component serves a specific purpose: Session identification shows when institutional traders are active, Volume Distribution reveals where volume concentrates (value areas), VWAP shows institutional average price, Volume Momentum identifies accumulation/distribution phases, and Session High/Low marks key reference levels. Together, they create a complete picture of how institutional volume flows through different trading sessions.
The mashup is justified because these components work together in session-based trading: institutions enter during specific sessions (London/NY), create volume distribution patterns at key levels, establish VWAP as benchmark, show momentum through volume trends, and set session highs/lows that become support/resistance. Tracking all simultaneously reveals the complete session-based institutional flow.
Core Components Explained
1. Session Identification System
The indicator identifies three major trading sessions:
Pine Script®
Session characteristics:
The indicator can optionally display session boxes as background colors (disabled by default to reduce clutter).
2. Volume Distribution Analysis
Volume distribution shows where volume concentrates within price ranges:
Pine Script®
Volume Distribution concepts:
The indicator plots volume distribution as a histogram or profile showing where institutional volume concentrated during the session.
3. Session-Specific VWAP
VWAP resets at the start of each session:
Pine Script®
Session VWAP significance:
The indicator plots session VWAP with dynamic coloring based on price position.
4. Volume Momentum Analysis
Volume momentum tracks institutional accumulation/distribution:
Pine Script®
Volume Momentum signals:
The indicator plots volume bars with color coding based on momentum and direction.
5. Session High/Low Tracking
Session highs and lows become important reference levels:
Pine Script®
Session High/Low significance:
The indicator plots only CURRENT session high/low (2 lines instead of 6) to keep chart clean. Previous session levels can be toggled on if needed.
Example showing session VWAP, volume distribution, and session high/low levels
Volume Distribution Dashboard
The dashboard (bottom-right position) displays:
Visual Elements
Chart demonstrating session VWAP, volume bars, and dashboard
How Components Work Together
The mashup reveals session-based institutional flow:
Session Trading Sequence:
1. Session Opens: New session begins (London/NY/Asian)
2. VWAP Establishes: Session VWAP forms as volume enters
3. Volume Distribution: Institutions create volume at key levels (POC, Value Area)
4. Session Range: High and low established through institutional activity
5. Volume Momentum: Accumulation or distribution phase identified
6. Session Close: Levels become reference for next session
Example: London session opens, price trades above session VWAP with rising volume (accumulation). Volume distribution shows POC forming at 1.2500 level. Session high reaches 1.2550. NY session opens, price respects London session high and VWAP, continues higher with climax volume. Dashboard shows strong accumulation with volume momentum +75%.
Input Parameters
Session Settings:
VWAP Settings:
Volume Settings:
Session Levels:
Display Options:
How to Use This Indicator
Step 1: Identify Active Session
Check dashboard to see which session is active. Focus trading during London and NY sessions for highest volume and best opportunities.
Step 2: Monitor Session VWAP
Use session VWAP as directional bias. Price above VWAP = bullish bias, below = bearish bias. VWAP often acts as support/resistance.
Step 3: Check Volume Distribution
Identify POC and Value Area. These levels often provide strong support/resistance. Price tends to return to POC (fair value).
Step 4: Assess Volume Momentum
Check if volume is rising (accumulation/distribution) or falling (lack of interest). Climax volume often marks important turning points.
Step 5: Use Session High/Low
Current session high/low define intraday range. Breaks above/below these levels signal potential breakout moves.
Step 6: Watch for Session Transitions
Session opens and closes often bring volatility. London open and NY open are particularly important for major moves.
Best Practices
Indicator Limitations
Technical Implementation
Built with Pine Script v6 using:
The code is fully open-source and can be modified to adjust session times, volume thresholds, and visual preferences.
Originality Statement
This indicator is original in its comprehensive session and volume integration approach. While individual components (session identification, VWAP, volume distribution, volume momentum, session high/low) are established concepts, this mashup is justified because:
Each component contributes unique information: Session identification shows when institutions are active, Volume Distribution reveals where they're trading, VWAP shows their average price, Volume Momentum shows their intent, and Session High/Low marks their range. The mashup's value lies in presenting these complementary session-based perspectives simultaneously, allowing traders to understand how institutional volume flows through different global trading sessions.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice or a recommendation to buy or sell any financial instrument. Trading involves substantial risk of loss and is not suitable for all investors.
Session-based analysis and volume distribution are analytical tools that analyze past data. They do not predict future price movement or guarantee that institutional traders are active at identified levels. Market conditions change, and session patterns that worked historically may not work in the future.
VWAP and volume distribution levels can fail to provide support/resistance. Session highs and lows can be broken without leading to sustained moves. Volume momentum can change rapidly. Past session behavior does not guarantee future session behavior.
Always use proper risk management, including stop losses and position sizing appropriate for your account size and risk tolerance. Never risk more than you can afford to lose. Consider consulting with a qualified financial advisor before making investment decisions.
The author is not responsible for any losses incurred from using this indicator. Users assume full responsibility for all trading decisions made using this tool.
-Made with passion by officialjackofalltrades
Introduction
The Elite Session Volume Distribution Engine is an open-source indicator that combines session-based analysis (London, New York, Asian sessions) with volume distribution profiling, VWAP analysis, volume-weighted momentum indicators, and session high/low tracking. This mashup creates a comprehensive session and volume analysis system designed to identify when institutional volume enters the market during specific trading sessions and how that volume is distributed across price levels.
The indicator addresses a critical market reality: different trading sessions have distinct volume characteristics and institutional participation levels. London and New York sessions typically have highest volume and volatility, while Asian session is quieter. By tracking volume distribution, momentum, and key levels within each session, this tool helps traders identify optimal trading windows and understand how institutional volume shapes price action during different global market hours.
Chart showing session boxes, volume distribution, and VWAP on 45M timeframe
Why This Mashup Exists
This indicator combines five analytical frameworks that address different aspects of session-based trading:
- Session Identification: Tracks London, New York, and Asian trading sessions
- Volume Distribution: Analyzes how volume is distributed across price levels within sessions
- VWAP Analysis: Calculates session-specific Volume Weighted Average Price
- Volume Momentum: Tracks volume trends and climax conditions
- Session High/Low: Identifies key levels established during each session
Each component serves a specific purpose: Session identification shows when institutional traders are active, Volume Distribution reveals where volume concentrates (value areas), VWAP shows institutional average price, Volume Momentum identifies accumulation/distribution phases, and Session High/Low marks key reference levels. Together, they create a complete picture of how institutional volume flows through different trading sessions.
The mashup is justified because these components work together in session-based trading: institutions enter during specific sessions (London/NY), create volume distribution patterns at key levels, establish VWAP as benchmark, show momentum through volume trends, and set session highs/lows that become support/resistance. Tracking all simultaneously reveals the complete session-based institutional flow.
Core Components Explained
1. Session Identification System
The indicator identifies three major trading sessions:
Session characteristics:
- London Session: High volume, major currency pairs active, trend establishment
- NY Session: Highest volume, US markets active, major moves occur
- Asian Session: Lower volume, range-bound often, JPY pairs active
- London/NY Overlap: Highest volume period, most volatile, best liquidity
The indicator can optionally display session boxes as background colors (disabled by default to reduce clutter).
2. Volume Distribution Analysis
Volume distribution shows where volume concentrates within price ranges:
Volume Distribution concepts:
- Point of Control (POC): Price level with highest volume - strong support/resistance
- Value Area High (VAH): Upper bound of 70% volume distribution
- Value Area Low (VAL): Lower bound of 70% volume distribution
- High Volume Nodes: Price levels with significant volume - support/resistance zones
- Low Volume Nodes: Price levels with little volume - price moves through quickly
The indicator plots volume distribution as a histogram or profile showing where institutional volume concentrated during the session.
3. Session-Specific VWAP
VWAP resets at the start of each session:
Session VWAP significance:
- Institutional traders use VWAP as execution benchmark
- Price above session VWAP = buyers in control during session
- Price below session VWAP = sellers in control during session
- VWAP acts as dynamic support/resistance within session
- Distance from VWAP indicates overextension
The indicator plots session VWAP with dynamic coloring based on price position.
4. Volume Momentum Analysis
Volume momentum tracks institutional accumulation/distribution:
Volume Momentum signals:
- Rising Volume + Up Close: Accumulation - bullish
- Rising Volume + Down Close: Distribution - bearish
- Climax Volume: Potential exhaustion or strong institutional move
- Declining Volume: Lack of institutional interest
- Volume Momentum > 50%: Very strong institutional participation
The indicator plots volume bars with color coding based on momentum and direction.
5. Session High/Low Tracking
Session highs and lows become important reference levels:
Session High/Low significance:
- Current session high/low show intraday range
- Previous session levels act as support/resistance
- Breaks above previous session high = bullish continuation
- Breaks below previous session low = bearish continuation
- Session range size indicates volatility and institutional activity
The indicator plots only CURRENT session high/low (2 lines instead of 6) to keep chart clean. Previous session levels can be toggled on if needed.
Example showing session VWAP, volume distribution, and session high/low levels
Volume Distribution Dashboard
The dashboard (bottom-right position) displays:
- Current Session: London/NY/Asian/Overlap
- Session VWAP: Current VWAP value
- Price vs VWAP: Distance from VWAP in %
- POC: Point of Control price level
- Value Area: VAH and VAL levels
- Volume Status: High/Normal/Low relative to average
- Volume Momentum: Rising/Falling/Climax
- Session Range: High - Low distance
- Accumulation/Distribution: Current phase
Visual Elements
- Session Boxes: Optional background colors for each session (default: OFF)
- Session VWAP: Dynamic line with color based on price position
- Session High/Low: Horizontal lines for current session (2 lines only)
- Volume Bars: Color-coded based on momentum and direction
- Volume Distribution Profile: Histogram showing volume at price levels
- POC Line: Horizontal line at Point of Control
- Value Area: Shaded zone between VAH and VAL
- Accumulation/Distribution Markers: Labels for strong volume phases
- Dashboard: Bottom-right table with session and volume metrics
Chart demonstrating session VWAP, volume bars, and dashboard
How Components Work Together
The mashup reveals session-based institutional flow:
Session Trading Sequence:
1. Session Opens: New session begins (London/NY/Asian)
2. VWAP Establishes: Session VWAP forms as volume enters
3. Volume Distribution: Institutions create volume at key levels (POC, Value Area)
4. Session Range: High and low established through institutional activity
5. Volume Momentum: Accumulation or distribution phase identified
6. Session Close: Levels become reference for next session
Example: London session opens, price trades above session VWAP with rising volume (accumulation). Volume distribution shows POC forming at 1.2500 level. Session high reaches 1.2550. NY session opens, price respects London session high and VWAP, continues higher with climax volume. Dashboard shows strong accumulation with volume momentum +75%.
Input Parameters
Session Settings:
- London Session: Time range (default: 0300-1200)
- NY Session: Time range (default: 0830-1700)
- Asian Session: Time range (default: 0000-0900)
- Show Session Boxes: Toggle background colors (default: OFF)
- Highlight Overlap: Emphasize London/NY overlap (default: enabled)
VWAP Settings:
- Show Session VWAP: Toggle VWAP line (default: enabled)
- VWAP Reset: Session, Daily, Weekly (default: Session)
- VWAP Bands: Optional standard deviation bands (default: disabled)
- Distance Alert: Alert when price moves X% from VWAP (default: 2%)
Volume Settings:
- Volume MA Length: Period for volume average (default: 20)
- High Volume Threshold: Multiplier for high volume (default: 1.5x)
- Climax Volume Threshold: Multiplier for climax (default: 3.0x)
- Show Volume Bars: Color-coded volume bars (default: enabled)
- Show Distribution Profile: Volume at price histogram (default: enabled)
Session Levels:
- Show Current Session H/L: Toggle current session levels (default: enabled)
- Show Previous Session H/L: Toggle previous session levels (default: disabled)
- Show POC: Toggle Point of Control line (default: enabled)
- Show Value Area: Toggle VAH/VAL zone (default: enabled)
Display Options:
- Show Dashboard: Toggle metrics table (default: enabled)
- Dashboard Position: Bottom-right, top-right, etc. (default: bottom-right)
- Color Theme: Choose color scheme
- Transparency: Adjust visual element transparency
How to Use This Indicator
Step 1: Identify Active Session
Check dashboard to see which session is active. Focus trading during London and NY sessions for highest volume and best opportunities.
Step 2: Monitor Session VWAP
Use session VWAP as directional bias. Price above VWAP = bullish bias, below = bearish bias. VWAP often acts as support/resistance.
Step 3: Check Volume Distribution
Identify POC and Value Area. These levels often provide strong support/resistance. Price tends to return to POC (fair value).
Step 4: Assess Volume Momentum
Check if volume is rising (accumulation/distribution) or falling (lack of interest). Climax volume often marks important turning points.
Step 5: Use Session High/Low
Current session high/low define intraday range. Breaks above/below these levels signal potential breakout moves.
Step 6: Watch for Session Transitions
Session opens and closes often bring volatility. London open and NY open are particularly important for major moves.
Best Practices
- Use on 5-minute to 1-hour timeframes for optimal session analysis
- London/NY overlap (08:30-12:00 EST) offers highest volume and best opportunities
- Session VWAP acts as magnet - price often returns to it
- POC from previous session often becomes support/resistance in current session
- Climax volume at session high/low often marks reversal points
- Accumulation during Asian session often leads to breakout during London open
- Value Area breaks signal strong directional moves
- Previous session high/low become key levels for current session
- Combine session analysis with other technical tools for best results
Indicator Limitations
- Session times are fixed and may not account for daylight saving time changes
- Volume distribution requires sufficient data within session to be meaningful
- VWAP can be less relevant in very volatile or trending markets
- Session high/low can be broken multiple times in volatile conditions
- Lower timeframes may show choppy session transitions
- Volume data quality varies across different markets and brokers
- Asian session analysis less reliable due to lower volume
- Requires understanding of session-based trading concepts
- Visual elements can clutter chart if all options enabled
Technical Implementation
Built with Pine Script v6 using:
- Session detection using time() function with session strings
- Session-specific VWAP calculation with reset logic
- Volume distribution profiling with POC and Value Area calculation
- Volume momentum tracking with MA comparison
- Session high/low tracking with persistent variables
- Accumulation/distribution detection using volume and price
- Dynamic dashboard with real-time session metrics
- Optional session boxes with transparency control
- Color-coded volume bars based on momentum
The code is fully open-source and can be modified to adjust session times, volume thresholds, and visual preferences.
Originality Statement
This indicator is original in its comprehensive session and volume integration approach. While individual components (session identification, VWAP, volume distribution, volume momentum, session high/low) are established concepts, this mashup is justified because:
- It combines session-based analysis with volume distribution profiling
- Session-specific VWAP provides more relevant institutional benchmark than daily VWAP
- Integration of volume momentum with session context reveals accumulation/distribution phases
- Simplified visual presentation (current session H/L only) reduces clutter
- Dashboard presents complex session and volume data clearly
- Focus on institutional trading sessions (London/NY) aligns with volume reality
Each component contributes unique information: Session identification shows when institutions are active, Volume Distribution reveals where they're trading, VWAP shows their average price, Volume Momentum shows their intent, and Session High/Low marks their range. The mashup's value lies in presenting these complementary session-based perspectives simultaneously, allowing traders to understand how institutional volume flows through different global trading sessions.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice or a recommendation to buy or sell any financial instrument. Trading involves substantial risk of loss and is not suitable for all investors.
Session-based analysis and volume distribution are analytical tools that analyze past data. They do not predict future price movement or guarantee that institutional traders are active at identified levels. Market conditions change, and session patterns that worked historically may not work in the future.
VWAP and volume distribution levels can fail to provide support/resistance. Session highs and lows can be broken without leading to sustained moves. Volume momentum can change rapidly. Past session behavior does not guarantee future session behavior.
Always use proper risk management, including stop losses and position sizing appropriate for your account size and risk tolerance. Never risk more than you can afford to lose. Consider consulting with a qualified financial advisor before making investment decisions.
The author is not responsible for any losses incurred from using this indicator. Users assume full responsibility for all trading decisions made using this tool.
-Made with passion by officialjackofalltrades
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
The AI Trading Ecosystem, Built to win trades 📈
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
The AI Trading Ecosystem, Built to win trades 📈
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.