HigherHigh - Midnight Open
Midnight Open
This indicator plots the New York Midnight Open: the opening price of the first candle of each new day in a chosen time zone (New York by default). Many ICT and intraday traders use it as a daily reference level. Price above the midnight open suggests a premium and bullish intraday bias. Price below it suggests a discount and bearish bias.
How it works
On each bar, the script checks whether the calendar day has changed in the selected time zone. The first bar of the new day marks midnight, and its open becomes the Midnight Open.
A horizontal line starts at that bar and extends to a configurable end hour (16:00 by default, the New York equity close). A price label sits at the end of the line.
Daylight saving time is handled automatically, because detection happens in the selected time zone and not in the chart's time zone. This matters because the US and Europe change clocks on different dates. For a Paris-based trader, the NY midnight open is usually 06:00, but it falls at 05:00 for a few weeks each spring and autumn.
Older lines are removed so only the most recent days stay on the chart.
Settings
Time zone: the reference time zone for "midnight" (for example America/New_York or Europe/London).
Line end (hour): the hour, in the selected time zone, at which each line stops.
Days displayed: how many past midnight opens to keep on the chart.
Color / Style / Width: line appearance (solid, dotted or dashed).
Show label: show or hide the price label.
Alerts
Two alert conditions are included:
Bullish break: close crosses above the Midnight Open.
Bearish break: close crosses below the Midnight Open.
The current Midnight Open value also appears in the Data Window.
Notes
Works on intraday timeframes up to 1 hour. On higher timeframes nothing is drawn, because a single bar can't isolate midnight.
The level is a reference point, not a trading signal on its own. Combine it with your own market structure and risk management.
This indicator plots the New York Midnight Open: the opening price of the first candle of each new day in a chosen time zone (New York by default). Many ICT and intraday traders use it as a daily reference level. Price above the midnight open suggests a premium and bullish intraday bias. Price below it suggests a discount and bearish bias.
How it works
On each bar, the script checks whether the calendar day has changed in the selected time zone. The first bar of the new day marks midnight, and its open becomes the Midnight Open.
A horizontal line starts at that bar and extends to a configurable end hour (16:00 by default, the New York equity close). A price label sits at the end of the line.
Daylight saving time is handled automatically, because detection happens in the selected time zone and not in the chart's time zone. This matters because the US and Europe change clocks on different dates. For a Paris-based trader, the NY midnight open is usually 06:00, but it falls at 05:00 for a few weeks each spring and autumn.
Older lines are removed so only the most recent days stay on the chart.
Settings
Time zone: the reference time zone for "midnight" (for example America/New_York or Europe/London).
Line end (hour): the hour, in the selected time zone, at which each line stops.
Days displayed: how many past midnight opens to keep on the chart.
Color / Style / Width: line appearance (solid, dotted or dashed).
Show label: show or hide the price label.
Alerts
Two alert conditions are included:
Bullish break: close crosses above the Midnight Open.
Bearish break: close crosses below the Midnight Open.
The current Midnight Open value also appears in the Data Window.
Notes
Works on intraday timeframes up to 1 hour. On higher timeframes nothing is drawn, because a single bar can't isolate midnight.
The level is a reference point, not a trading signal on its own. Combine it with your own market structure and risk management.
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.
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.