wintonbanks

B A N K $ - Opening Lines / Daily Separators

This is a simple indicator that aids the trader in being able to visualise each trading day of the week;

Key Features
  • Weekly Open Line
  • Daily Open Line
  • Option for Background Lines



Weekly & Daily Open Lines
Information ℹ️
These are vertical lines that are anchored to the hour of the Weekly Open and the hour of each Daily Candle Open. The settings are customisable, allowing to you edit the Width, Style & Colour. You can also select Monday as the Weekly Open if Monday is a no-trade day for you.

Settings ⚙️
1h Toggle - by default Daily Open Lines are only visible under the 1h, you can select to also make them visible on the 1h.
Background Lines - you can replace the chart lines with background lines, this can improve performance and allow you to load more lines on the chart when going back in price.
Show Days of Week - this prints the current day on the chart.
Release Notes:
New Features
  • Show Week Separator on 4h Chart
  • Show Only Last 2 Weekly Opens
  • Weekly & Daily Line Offset



Show Week Separator on 4h Chart
This is a toggle option that allows you so show Week Separators on the 4h chart. By default all vertical lines are invisible on any timeframe above the 1h. This toggle is disabled by default.
user_show_on_4hour = input(title='Show Week Separator on 4h Chart', defval=false, group="Weekly Open", tooltip="Week Separators are only shown on timeframes higher than 4h by default.")

Show Only Last 2 Weekly Opens
I have added this option to make only the last 2 weekly opens visible, I have added this to make the charts more minimalistic if desired by the trader.
show_last_two_weekly_opens = input(title='Show Only Last 2 Weekly Opens', defval=false, group="Weekly Open")

Weekly & Daily Line Offset
The original code only worked on instruments that had 24 hourly candles within the day. Instruments like DXY or XAUUSD wouldn't show the lines. I have added an offset option for both the Weekly & Daily lines to allow the trader to adjust the hour the lines are anchored to, this allows you to adjust the lines and make them visible across all instruments.
week_offset_hours = input.int(title="Weekly Line Offset", defval=0, minval=-23, maxval=23, group="Weekly Open", tooltip="Sometimes the lines aren't visible when the pair has less than 24 hourly candles. Increase this option until the lines show. (DXY = 1)")
day_offset_hours = input.int(title="Daily Line Offset", defval=0, minval=-23, maxval=23, group="Daily Open", tooltip="Sometimes the lines aren't visible when the pair has less than 24 hourly candles. Increase this option until the lines show. (DXY = 3)")
(I have changed isStartTime to adjusted_new_day_start_time and made some adjustments to the code to allow the trader to offset the lines)

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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