OPEN-SOURCE SCRIPT
12-Hour High/Low Break Indicator [jH]
The indices (ES/NQ ETC) tend to have short term reversals after violating a high or a low on the 12 hour candle. This script takes the 24hr cycle and breaks it into two sessions (18:00 EST to 05:59 EST and 06:00 EST to 16:00 EST). It provides a signal when one of the sessions violates the high or low of the previous 12 hr session.
A red triangle is created when one session violates the high of the previous session.
A green triangle is created when one session violates the low of the previous session.
Used in conjunction with other indicators and price action theory, a simple but effective stratagy can be formulated.
A red triangle is created when one session violates the high of the previous session.
A green triangle is created when one session violates the low of the previous session.
Used in conjunction with other indicators and price action theory, a simple but effective stratagy can be formulated.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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