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RCV Essentials

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RCV ESSENTIALS - MULTI-TIMEFRAME & SESSION ANALYSIS TOOL
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📊 WHAT THIS INDICATOR DOES

This professional-grade indicator combines two powerful analysis modules:

1. TRADING SESSION TRACKER - Visualizes high/low ranges for major global market sessions (NY Open, London Open, Asian Session, etc.)

2. MULTI-TIMEFRAME CANDLE DISPLAY - Shows up to 8 higher timeframes simultaneously on your chart (15m, 30m, 1H, 4H, 1D, 1W, 1M, 3M)


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🎯 KEY FEATURES
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TRADING SESSIONS MODULE:
✓ Track up to 6 custom trading sessions simultaneously
✓ Real-time high/low range detection during active sessions
✓ Pre-configured for NYO (7-9am), LNO (2-3am), Asian Session (4:30pm-12am)
✓ 60+ global timezone options
✓ Customizable colors, labels, and transparency
✓ Daily divider lines (optional Sunday skip for traditional markets)
✓ Only displays on ≤30m timeframes for optimal clarity

MULTI-TIMEFRAME CANDLES MODULE:
✓ Display 1-8 higher timeframes with up to 10 candles each
✓ Real-time candle updates (non-repainting)
✓ Fully customizable colors (separate bullish/bearish for body/border/wick)
✓ Adjustable candle width, spacing, and positioning
✓ Smart label system (top/bottom/both, aligned or follow candles)
✓ Automatic timeframe validation (only shows TFs higher than chart)
✓ Memory-optimized with automatic cleanup


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🔧 HOW IT WORKS
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TECHNICAL IMPLEMENTATION:

Session Tracking Algorithm:
• Detects session start/end using time() function with timezone support
• Continuously monitors and updates high/low during active session
• Finalizes range when session ends using var persistence
• Draws boxes using real-time bar_index positioning
• Maintains session ranges across multiple days for reference

Multi-Timeframe System:
• Uses ta.change(time()) detection to identify new MTF candle formation
• Constructs candles using custom Type definitions (Candle, CandleSet, Config)
• Stores OHLC data in arrays with automatic size management
• Renders using box objects (bodies) and line objects (wicks)
• Updates current candle every tick; historical candles remain static
• Calculates dynamic positioning based on user settings (offset, spacing, width)

Object-Oriented Architecture:
• Custom Type "Candle" - Stores OHLC values, timestamps, visual elements
• Custom Type "CandleSet" - Manages arrays of candles + settings per timeframe
• Custom Type "Config" - Centralizes all display configuration
• Efficient memory management via unshift() for new candles, pop() for old

Performance Optimizations:
• var declarations minimize recalculation overhead
• Conditional execution (sessions only on short timeframes)
• Maximum display limits prevent excessive object creation
• Timeframe validation at barstate.isfirst reduces redundant checks


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📈 HOW TO USE
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SETUP:
1. Add indicator to chart (works best on 1m-30m timeframes)
2. Open Settings → "Trading Sessions" group
- Enable desired sessions (NYO, LNO, AS, or custom)
- Select your timezone from 60+ options
- Adjust colors and transparency
3. Open Settings → "Multi-TF Candles" group
- Enable timeframes (TF1-TF8)
- Configure each timeframe and display count
- Customize colors and layout

READING THE CHART:
• Session boxes show high/low ranges during active sessions
• MTF candles display to the right of current price
• Labels identify each timeframe (15m, 1H, 4H, etc.)
• Real-time updates on the most recent MTF candle

TRADING APPLICATIONS:

Session Breakout Strategy:
→ Identify session high/low (e.g., Asian session 16:30-00:00)
→ Wait for break above/below range
→ Confirm with higher timeframe candle close
→ Enter in breakout direction, stop at opposite side of range

Multi-Timeframe Confirmation:
→ Spot setup on primary chart (e.g., 5m)
→ Verify 15m, 1H, 4H candles align with trade direction
→ Only take trades where higher TFs confirm
→ Exit when higher TF candles show reversal

Combined Session + MTF:
→ Asian session establishes range overnight
→ London Open breaks Asian high
→ Confirm with bullish 15m + 1H candles
→ Enter long with stop below Asian high


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🎨 ORIGINALITY & INNOVATION
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What makes this indicator original:

1. INTEGRATED DUAL-MODULE DESIGN
Unlike separate session or MTF indicators, this combines both in a single performance-optimized script, enabling powerful correlation analysis between session behavior and timeframe structure.

2. ADVANCED RENDERING SYSTEM
Uses custom Pine Script v5 Types with dynamic box/line object management instead of basic plot functions. This enables:
• Precise visual control over positioning and spacing
• Real-time updates without repainting
• Efficient memory handling via automatic cleanup
• Support for 8 simultaneous timeframes with independent settings

3. INTELLIGENT SESSION TRACKING
The algorithm continuously recalculates ranges bar-by-bar during active sessions, then preserves the final range. This differs from static zone indicators that simply draw fixed boxes at predefined levels.

4. MODULAR ARCHITECTURE
Custom Type definitions (Candle, CandleSet, Config) create extensible, maintainable code structure while supporting complex multi-timeframe operations with minimal performance impact.

5. PROFESSIONAL FLEXIBILITY
Extensive customization: 6 configurable sessions, 8 timeframe slots, 60+ timezones, granular color/sizing/spacing controls, multiple label positioning modes—adaptable to any market or trading style.

6. SMART VISUAL DESIGN
Automatic timeframe validation, dynamic label alignment options, and intelligent spacing calculations ensure clarity even with multiple timeframes displayed simultaneously.


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⚙️ CONFIGURATION OPTIONS
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TRADING SESSIONS:
• Session 1-6: On/Off toggles
• Time Ranges: Custom start-end times
• Labels: Custom text for each session
• Colors: Individual color per session
• Timezone: 60+ options (Americas, Europe, Asia, Pacific, Africa)
• Range Transparency: 0-100%
• Outline: Optional border
• Label Display: Show/hide session names
• Daily Divider: Dotted lines at day changes
• Skip Sunday: For traditional markets vs 24/7 crypto

MULTI-TF CANDLES:
• Timeframes 1-8: Enable/disable individually
• Timeframe Selection: Any TF (seconds to months)
• Display Count: 1-10 candles per timeframe
• Bullish Colors: Body/Border/Wick (independent)
• Bearish Colors: Body/Border/Wick (independent)
• Candle Width: 1-10+ bars
• Right Margin: 0-200+ bars from edge
• TF Spacing: Gap between timeframe groups
• Label Color: Any color
• Label Size: Tiny/Small/Normal/Large/Huge
• Label Position: Top/Bottom/Both
• Label Alignment: Follow Candles or Align


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📋 TECHNICAL SPECIFICATIONS
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• Pine Script Version: v5
• Chart Overlay: True
• Max Boxes: 500
• Max Lines: 500
• Max Labels: 500
• Max Bars Back: 5000
• Update Frequency: Real-time (every tick)
• Timeframe Compatibility: Chart TF must be lower than selected MTFs
• Session Display: Activates only on ≤30 minute timeframes
• Memory Management: Automatic cleanup via array operations
릴리즈 노트
RCV Essentials 2.0

Trading Sessions
- Up to four sessions in New York time, each on two rows in the settings: name, time and colour, then labels, H/L and EQ.
- H/L lines start at the wick that set the high or low and stop shortly after price trades through (alert available).
- EQ line at the middle of each session's range.
- Session boxes grow live with the session and take the full window when it ends.
- History (Today / Week / Month) and "Up to": choose which sessions stay drawn and the highest chart timeframe that shows them.
- Range shown in pips, points or price; Auto picks the usual unit for the market.

Dividers
- Day, Week or Month dividers, with Keep: only the current one, this week's, this month's, or all.

HTF Candles
- Auto picks the higher-timeframe sets that fit your chart; Manual lets you choose up to four.
- Candles built from your chart's own bars where history allows, so every wick and level matches the chart.
- Optional countdown and open times.
- Sweep lines and engulfing marks on the HTF candles and on price. Higher timeframes draw larger engulfing marks.
- Marks on a candle that is still forming are faint or hollow until it closes.

Fixes
- HTF candles no longer flicker between ticks.
- Settings reorganised into Trading Sessions, Session Style, HTF Candles and HTF Style.
릴리즈 노트
Calibration
릴리즈 노트
Bug fixes
릴리즈 노트
Updated Sweep
릴리즈 노트
HTF candle dividers (Timeframes Auto): a dotted line at the open of each candle of the nearest HTF set. HTF Style > Dividers sets the colour and the placement: Candle (each candle's high to low, the default), Range (the shown candles' high to low) or Below (short marks under price).

On-chart sweep lines in Timeframes Auto are one width thicker per HTF set (1 to 4), so the higher set stands out.

Settings window: rows reworked so each one fits on a single line in TradingView's current layout. Saved settings carry over unchanged.
릴리즈 노트
HTF candles: after a settings change or a reload right after a new candle opens (for example the daily open at 17:00 New York), the newest candle now shows straight away. Before, the set could show the previous candle as the live one until the next tick.

HTF dividers: new line style option next to Candle / Range / Below (solid, dashed or dotted, width 1-4). Auto keeps the current look.

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