MELLO

The Settings in the MELLO script is to show the Previous Day Session High and Low, as well as the Overnight Sessions and Midnight Point. The ASIA Session High and Low, and the London Session High and Low. These Levels are to give an educational area of interest about where the market made its Highest and Lowest Point in those sessions. These levels do not determine the market conditions. They are for educational purposes only and just marks the levels of Highs and Lows created during that session. The original indicator was created by tradeforopp and customized to use the simple version for @mellotradez settings. Please use these levels at your own discretion as trading involves risks, and these levels will not provide any financial benefits.

Catatan Rilis

This indicator displays key session-based reference levels for educational purposes:

Previous Day Session High & Low
Overnight Session Killzone + Midnight Point
Asia Session Killzone High & Low
London Session Killzone High & Low

These levels mark the highest and lowest points reached within each respective session or killzone window. They serve as visual areas of interest to help traders better understand how price behaved during those specific times of day.
Important Notes:

These levels do not determine current market conditions or provide trading signals.
They are purely educational and for reference only.
The original indicator was created by @tradeforopp. This is a simplified, customized version tailored for @mellotradez.

Trading involves substantial risk of loss. Use these levels at your own discretion. They are not intended to provide any financial benefit or guarantee.

Catatan Rilis

MELLO Script Update – Session Killzone Levels
This indicator displays key session-based reference levels for educational purposes:
• Previous Day Session High & Low
• Overnight Session Killzone + Midnight Point
• Asia Session Killzone High & Low
• London Session Killzone High & Low
These levels mark the highest and lowest points reached within each respective session or killzone window. They serve as visual areas of interest to help traders better understand how price behaved during those specific times of day.
The Midnight level that has been studied. It serves as a key daily reference level for bias, support/resistance, premium/discount arrays, and retracements — separate from but often used alongside the main Kill Zones.
Why It Matters
• True Day Open: New York midnight (00:00 ET) as the institutional “start” of the trading day (more relevant than the 9:30 AM equity open for forex/futures). Algorithms and smart money often reference this level.
• Bias & Premium/Discount:
• Price trading above the midnight open → often considered a premium (expensive) zone; look for potential sell-side interest or retracements back to it.
• Price trading below → discount (cheap) zone; potential buy-side interest.
Killzones are specific high-probability time windows in the methodology where institutional/smart money activity tends to peak. This leads to increased volatility, liquidity sweeps, and better trade setups. These zones align with major market session opens and overlaps.
Times are typically referenced in New York time (EST/EDT), as that's the standard.
1. London Killzone
• Time: 2:00 AM – 5:00 AM New York time (7:00 AM – 10:00 AM GMT/London time).
• What happens: This is one of the most powerful killzones. It coincides with the London open, bringing high volume from European institutions. Price often seeks liquidity by sweeping Asian session highs/lows, then makes strong directional moves. Many daily highs or lows form here in trending conditions.
• Best for: Major pairs like EUR/USD, GBP/USD, and for futures traders (like your ES/NQ), this is a prime window for high-conviction entries after the Asian range.
• Common setups: Liquidity sweeps of prior highs/lows, then displacement/break of structure into the next level.
2. Asia (Asian) Killzone
• Time: Commonly 7:00 PM – 10:00 PM or 8:00 PM – 10:00 PM New York time (midnight-ish to early morning GMT). Some variations extend it.
• What happens: This aligns with the Tokyo/Sydney open. It's generally lower volatility — more of a range-building/consolidation phase ("Asian range"). Institutions position quietly, setting up liquidity for the London session. The range often provides the highs/lows that get raided in the London Killzone.
• Best for: Asian/Oceania pairs (AUD, NZD, JPY). For ES/NQ futures traders, it's useful for identifying the overnight range and preparing bias for London.
• Key note: Many traders use this time to mark the Asian range rather than taking aggressive trades.
3. Midnight (NY Midnight Open / Midnight Candle)
This isn't always called a full "Killzone" like the others, but it's a critical reference point:
• Time: Around 00:00 New York time (midnight NY).
• What it is: The New York midnight open candle marks the institutional "daily" open for forex/futures. It serves as a key reference level for the coming day. Price often consolidates around it during the Asian session.
• Why it matters: It helps define the Asian range and acts as a potential support/resistance or fair value area. Many strategies watch reactions to this level heading into London.
How Traders Use Them (Especially for ES/NQ Futures)
• Focus on London Killzone for most high-probability entries.
• Use the Asian range (formed around Midnight) as a framework — look for sweeps of its extremes in London.
• Combine with GEXR / MFGL levels, previous close, overnight highs/lows, and break of structure. (aligns well with GEX/MFGL concept). Especially used in NY Session for sweeps.
• Risk note: Avoid forcing trades outside killzones; liquidity is thinner and moves are often manipulative.
These times can shift slightly with daylight saving or specific model updates, but the 2-5 AM London window is very consistent. If you're trading prop firms or futures, the London open often gives the cleanest reactions.
Important Notes:
• These levels do not determine current market conditions or provide trading signals.
• They are purely educational and for reference only.
• The original indicator was created by @tradeforopp. This is a simplified, customized version tailored for @mellotradez.
Trading involves substantial risk of loss. Use these levels at your own discretion. They are not intended to provide any financial benefit or guarantee.

Catatan Rilis

Last Update Was Release Notes about the Script

Skrip open-source

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mellotradeX

-melloX

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Skrip open-source

mellotradeX

-melloX

Juga di: