OPEN-SOURCE SCRIPT
Adjustable Timezone Swap Highlighter
Swap Hour Candle Highlighter
This simple, lightweight indicator highlights candles that form during a specific "swap hour" or low-liquidity session by changing their color on your chart. It features a built-in timezone setting to ensure the highlighted window perfectly aligns with your local screen time.
Why this script was created:
Especially for pattern traders, swap candles can make a market structure look better or worse than it actually is. Countless times, I found myself placing too much emphasis on a structure because of candles that weren't really showing genuine price action (PA).
I built this small script to serve as a constant visual reminder that candles created during the swap hour do not hold the same weight as candles formed during highly active, liquid trading sessions. It filters out the noise so you can focus on true market volume.
Features:
This simple, lightweight indicator highlights candles that form during a specific "swap hour" or low-liquidity session by changing their color on your chart. It features a built-in timezone setting to ensure the highlighted window perfectly aligns with your local screen time.
Why this script was created:
Especially for pattern traders, swap candles can make a market structure look better or worse than it actually is. Countless times, I found myself placing too much emphasis on a structure because of candles that weren't really showing genuine price action (PA).
I built this small script to serve as a constant visual reminder that candles created during the swap hour do not hold the same weight as candles formed during highly active, liquid trading sessions. It filters out the noise so you can focus on true market volume.
Features:
- Customizable Session: Define your specific swap hour using the HHMM-HHMM format.
- Flexible Timezone Selection: A built-in timezone dropdown (e.g., GMT+8) to easily match your chart's display time.
- Fully Customizable Colors: Adjust the candle overlay color directly from the style menu to fit your chart theme.
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.