PROTECTED SOURCE SCRIPT
ICT Time Levels
Description:
The Time Levels Indicator is designed to enhance trading decisions by marking significant price levels at key times throughout the trading day. This indicator specifically focuses on three crucial times: 8:30 AM, 9:30 AM, and 10:00 AM (UTC-4), which are often associated with significant market movements.
Key Features:
How It Works:
Use Cases:
Note: This script is designed to be simple yet effective, providing traders with essential information without cluttering the chart.
The Time Levels Indicator is designed to enhance trading decisions by marking significant price levels at key times throughout the trading day. This indicator specifically focuses on three crucial times: 8:30 AM, 9:30 AM, and 10:00 AM (UTC-4), which are often associated with significant market movements.
Key Features:
- Customizable Time Levels: Users can toggle the display of price levels at 8:30 AM, 9:30 AM, and 10:00 AM. Each level is marked with a line on the chart, which helps traders visually identify these critical points.
- Style and Color Options: Customize the appearance of each time level with different line styles (solid, dotted, dashed) and colors to match your chart preferences.
- Dynamic Labeling: The indicator automatically places a label at the current price level for each time, making it easier to identify and track these levels as the day progresses.
- Real-Time Updates: As the trading session unfolds, the indicator adjusts the lines and labels to reflect the latest price data at the specified times.
How It Works:
- At the specified times (8:30 AM, 9:30 AM, and 10:00 AM), the indicator captures the opening price and plots a horizontal line at that level.
- These lines serve as reference points, helping traders to observe how the price interacts with these key levels throughout the day.
- The lines and labels are fully customizable, allowing users to adapt the indicator to their trading style and visual preferences.
Use Cases:
- Market Open Strategies: Traders can use the 9:30 AM level to monitor the opening price of the New York Stock Exchange (NYSE), which often sets the tone for the trading session.
- Morning Volatility: The 8:30 AM and 10:00 AM levels can be useful for identifying potential support and resistance levels during periods of increased volatility, such as economic data releases or after the market opens.
- This indicator is particularly useful for intraday traders who focus on morning trading sessions and want to have a clear visual reference to guide their decisions.
Note: This script is designed to be simple yet effective, providing traders with essential information without cluttering the chart.
Disclaimer
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