OPEN-SOURCE SCRIPT
Updated ETH SD+ | 6-9 Strategy PRO
versatile and highly customizable tool crafted for traders who rely on precise price levels and
Time-based analysis, with a special focus on the Overnight Session (ONS) range.
This indicator defaults to capturing the critical 6:00 AM to 9:00 AM Eastern Time overnight
session window—a period often pivotal for setting the day's momentum and key price zones
before regular trading hours (RTH) commence. However, its standout feature is the ability to
define a custom session window, allowing traders to adapt the range to any preferred time
period, making it suitable for various trading styles and market conditions beyond the
standard overnight session.
Time-based analysis, with a special focus on the Overnight Session (ONS) range.
This indicator defaults to capturing the critical 6:00 AM to 9:00 AM Eastern Time overnight
session window—a period often pivotal for setting the day's momentum and key price zones
before regular trading hours (RTH) commence. However, its standout feature is the ability to
define a custom session window, allowing traders to adapt the range to any preferred time
period, making it suitable for various trading styles and market conditions beyond the
standard overnight session.
Release Notes
The framework is based entirely on time-based ranges that appear throughout the day during electronic trading hours and regular trading hours (all
times i refer to during the entirety of this document will be in Eastern
Standard Time, ET).
Markets often exhibit rhythmic behavior tied to sessions, where liquidity and
volatility spike predictably for order accumulations and breakouts
The idea behind this and how i view ranges is that every range has
measurable exhaustion points where price absorbes orders accumulated
during the range window and reverses or breaks after hitting trapped stops
to then distribute to post-breakouts targets often corresponding to the range
extensions. It usually happens in the form of “False Breakout” or judas swing
as ICT describes it (which is one of the models later presented) or just “Range
breakout”.
Our job is to anticipate these moves in the exhaustion areas and position
ourselves during specific time windows during the trading session where
statistically these moves form.
This logic can be applied to multiple ranges present throughout the day
helping you identify these moves and the signatures in price at said levels.
This system is fairly simple and a rules-based system focusing on time and
price signatures can reduce overthinking, making it actionable if backtested
and followed consistently
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.