OPEN-SOURCE SCRIPT
All in one Dynamic Trade Sessions
All in one Dynamic Trade Sessions:
Trend Filter: Uses the 50 EMA to determine the main direction (Buy only above, Sell only below).
Momentum Entry (from MACD-RSI): Uses the MACD (12, 26, 9) for the entry crossover signal.
Confirmation (from ---Momentum): Uses RSI (Length 7) to ensure the move has strength.
Exits (from Breakout Detector): Uses ATR (14) to automatically calculate your Stop Loss and Take Profit levels.
All in one Dynamic Trade Sessions identifies "Trade Sessions" dynamically. A "Session" starts when volume and momentum kick in (Green/Red background) and ends when the market goes into a chop (Grey background).
How V5 Works (The "Breakdown" Logic)
Session Start: When the Grey Zone ends (RSI breaks out of 45-55) AND Volume spikes. The background turns Blue.
Session End: When the Grey Zone returns (RSI falls back between 45-55). The background turns Grey.
Trend Filter: Uses the 50 EMA to determine the main direction (Buy only above, Sell only below).
Momentum Entry (from MACD-RSI): Uses the MACD (12, 26, 9) for the entry crossover signal.
Confirmation (from ---Momentum): Uses RSI (Length 7) to ensure the move has strength.
Exits (from Breakout Detector): Uses ATR (14) to automatically calculate your Stop Loss and Take Profit levels.
All in one Dynamic Trade Sessions identifies "Trade Sessions" dynamically. A "Session" starts when volume and momentum kick in (Green/Red background) and ends when the market goes into a chop (Grey background).
How V5 Works (The "Breakdown" Logic)
Session Start: When the Grey Zone ends (RSI breaks out of 45-55) AND Volume spikes. The background turns Blue.
Session End: When the Grey Zone returns (RSI falls back between 45-55). The background turns Grey.
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.