OPEN-SOURCE SCRIPT
London Hi/Lo/50%
Overview
This indicator automatically plots the London session high, low, and 50% equilibrium level - key reference points for identifying liquidity sweeps and potential reversal zones during the New York session.
Concept
The London session (0200-0800 EST) establishes the day's initial liquidity pools. As institutional order flow shifts to New York, price frequently seeks out these levels to fill resting orders before committing to directional moves. Historical data suggests approximately 86% of New York sessions will trade through at least one London session extreme.
How To Use
Best Practices
This indicator automatically plots the London session high, low, and 50% equilibrium level - key reference points for identifying liquidity sweeps and potential reversal zones during the New York session.
Concept
The London session (0200-0800 EST) establishes the day's initial liquidity pools. As institutional order flow shifts to New York, price frequently seeks out these levels to fill resting orders before committing to directional moves. Historical data suggests approximately 86% of New York sessions will trade through at least one London session extreme.
How To Use
- London High/Low: Watch for sweeps of these levels during early New York session (0830-1000 EST). A sweep followed by rejection can signal reversal setups.
- 50% Level: Acts as equilibrium. After a liquidity sweep, price often retraces to this midpoint before continuation. Useful for target placement or secondary entries.
Best Practices
- Combine with market structure and session timing
- Most effective on ES, NQ, and forex majors
- Works on 1m-15m timeframes for intraday execution
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.