OPEN-SOURCE SCRIPT
Session Breakout ATR Levels
This script is an institutional-style intraday trading framework designed primarily for NQ/MNQ futures trading. It combines a New York session anchor price, ATR-based expansion levels, London session high and low liquidity zones, EMA trend filters, and a smooth session trendline to create a complete market structure map for the trading day. The script uses the 6:00 PM New York open as the session baseline and projects volatility levels above and below it using ATR calculations, which act as breakout triggers, targets, and exhaustion zones. It also tracks the London session range to identify important liquidity pools and breakout areas that often influence New York price action. The custom session trendline provides a visual representation of overall directional bias and momentum throughout the session, while the EMAs help confirm trend alignment and momentum continuation. In strategy mode, the script converts these levels into rule-based trade entries and exits, allowing traders to backtest breakout and momentum setups using ATR targets, London range breaks, and EMA confirmation. Overall, the system is built to help identify high-probability trend and volatility expansion moves during active market sessions while filtering out weaker or choppy conditions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.