10am Open + Rejection Blocks

❤︎ 10am Open + Rejection Blocks

This indicator is based on the 10am opening line concept inspired by Powell’s strategy.

The idea is that the new 4-hour opening candle at 10:00 AM often creates a manipulation wick. The opposite side of that manipulation can then be treated as potential continuation.

Core Logic

Plots the 10:00 AM opening line
Measures the opposite-side wick from the 10am open
Allows a custom wick-size threshold in points
Highlights when the wick meets the manipulation threshold
Detects 5-minute rejection blocks around the 10am line

Manipulation Threshold
The wick threshold lets you define how large a wick must be to qualify as manipulation.

I have found that 12.5 points or greater can be a useful qualifier.

If the wick is smaller than the threshold, the opposing side may be considered the manipulation instead. In that case, traders can wait for price to reclaim the 10am line using a rejection block.

Bullish Rejection Block

5-minute candle closes bullish
Opens at or above the 10am line
Wicks below the line
Closes back above the line
The lower wick forms the rejection block

Bearish Rejection Block

5-minute candle closes bearish
Opens at or below the 10am line
Wicks above the line
Closes back below the line
The upper wick forms the rejection block

Display Options

Show or hide the 10am opening line
Show all rejection blocks
Show only the first bullish and first bearish rejection block
Customize colors, labels, line style, and extension length

This tool is intended for visual study and backtesting support. It does not provide financial advice or guaranteed trade signals.

Информация о релизе

Updated chart presentation per TradingView moderator guidance.
• Organized the settings to make them easier to navigate.
• Added a customizable cutoff time for Rejection Blocks.
• Added separate label size controls for the 10 AM line and wick label.
• A few small quality-of-life improvements.

Информация о релизе

🔄 What's New

Fixed a higher-timeframe display bug. Rejection Blocks now display only on their selected timeframe and below.
Added an optional Require Candle Color qualifier, allowing users to choose whether bullish RBs must close green and bearish RBs must close red.
Added Doji Handling with options to exclude dojis or classify the larger rejection wick as the RB direction.
Added an optional Wick Filter requiring the rejection wick to be larger than the candle body.
Updated the 4-hour manipulation wick label to automatically stop displaying after the 4-hour candle closure.
Reorganized and simplified settings for a cleaner, more intuitive interface.
Added tooltips throughout the indicator to better explain settings and qualifiers.

Скрипт с открытым кодом

В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.

lindslynn

Отказ от ответственности

Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.

Скрипт с открытым кодом

lindslynn