OPEN-SOURCE SCRIPT
Session Strata Mapper [JOAT]
Session Strata Mapper [JOAT]
Introduction
Session Strata Mapper is an overlay indicator that tracks three critical intraday price levels in real time: the Premarket session range (04:00-09:30 ET), the Initial Balance range (09:30-10:30 ET), and the Previous Day's high, low, and midpoint. These levels are rendered as dynamic zones that expand as each session progresses and extend as horizontal reference lines throughout the trading day. Extension projections above and below the Initial Balance provide potential target levels based on the established morning range.
Session-based levels represent areas where institutional participation was concentrated during distinct time periods. The premarket range reflects the overnight positioning of market participants before retail hours begin. The Initial Balance captures the price range set by the first hour of regular trading, a period often dominated by institutional order flow. Violations of these levels, especially when accompanied by volume, frequently signal meaningful directional commitment from large participants.
Core Concepts
1. Session Detection and Range Building
Sessions are detected using TradingView's time() function with a configurable timezone (default: America/New_York). The premarket range builds bar by bar during the 04:00-09:30 window, tracking the running high and low. The Initial Balance does the same during 09:30-10:30. All objects (boxes, lines, labels) update in real time as each session progresses.
2. Initial Balance Extensions
The IB range can optionally project extension levels above and below at 0.5x IB multiples. Extensions are labeled IB +1x, IB +2x, etc. These project the IB range beyond the session boundaries and serve as potential continuation targets when price breaks from the IB.
3. Previous Day Levels
The previous trading day's high, low, and midpoint are tracked by detecting session-start bars and storing the completed day's range. These levels extend throughout the current session as dashed reference lines and are updated at the start of each new day.
4. Zone Boxes and Line Rendering
Each session's range is rendered as a filled zone box that expands during the session and then remains fixed after the session ends. Horizontal lines extend from the session boundaries into the future trading period, providing ongoing reference as price interacts with those levels throughout the day.
Features
- Premarket Range Zone: Live-building box with high, low, and optional midpoint lines
- Initial Balance Zone: Live-building box with high, low, midpoint, and extension projections
- Previous Day Levels: Prior session high, low, and midpoint as dashed reference lines
- Extension Lines: Up to 4 levels of IB extension projections with optional labels
- Dashboard: Real-time level values and whether price is currently above or below each key level
- Configurable Timezone: Works for multiple market sessions globally
- Label Size and Line Width Controls
Input Parameters
- Timezone: Market-specific timezone for session detection
- Show Premarket, IB, Previous Day: Individual toggles
- IB Extension Levels: Number of extension multiples to show (0-4)
- Color inputs for each session type
- Label size and line width settings
How to Use This Indicator
Premarket Range as Reference
Price trading above the premarket high at the regular session open is constructive. A break below the premarket low often draws bearish attention. The premarket midpoint frequently acts as intraday support or resistance.
Initial Balance Breakouts
When price breaks above the IB high with momentum, the extension levels provide natural targets. An IB high breakout that reaches IB +1x suggests continuation may carry to IB +2x. Reversals from IB extension levels are also common.
Previous Day Level Confluences
When the premarket or IB range aligns closely with the previous day's high or low, that confluence represents an area where two independent session-based reference points agree — a stronger potential reaction zone.
Limitations
- Session detection requires intraday data. The indicator is not meaningful on daily or higher timeframes
- Some brokers and data providers do not include premarket data. On charts without premarket bars, the premarket range will be empty
- Extension levels are mechanical projections of the IB range. They are reference points, not guaranteed targets
- The Previous Day tracking resets on each new session. On instruments that trade continuously (such as some crypto markets), the day boundary is user-defined by the timezone setting
Originality Statement
The integration of three distinct session types (premarket, initial balance, and previous day) within a single dynamically updating visualization system provides a consolidated view that would otherwise require multiple separate tools. The live-expanding zone boxes with simultaneous line extension represent a unified approach to session level tracking. The IB extension projection system is built around the specific multiples used by institutional traders who apply IB methodology.
Disclaimer
This indicator is for educational and informational purposes only. Session levels are historical reference points and do not predict future price reactions. Price can and regularly does pass through any level without reaction. Use in conjunction with other analysis and always apply proper risk management.
-Made with passion by officialjackofalltrades
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
The AI Trading Ecosystem, Built to win trades 📈
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.