DAX/FTSE Time Open & Close Lines

Aug 17, 2023

Title: "Danish Time Open & Close Lines".
Overlay: Set to true so the plotted lines will be shown on the main price chart.
Scale: Set to scale.none to avoid scaling the chart based on this script's output.
Inputs:

Two times are taken as input: openTime and closeTime (in the format of HH.MM, e.g., 9.0 represents 9:00 AM).
Colors for the opening and closing lines are also taken as inputs: openColor and closeColor.
Time Extraction:

Hours and minutes are separately extracted from the given openTime and closeTime.
For instance, if openTime is 9.30, then openHour will be 9 and openMinute will be 30.
Danish Time Adjustment:

Danish time can be either Central European Time (CET, UTC+1) or Central European Summer Time (CEST, UTC+2 during daylight saving time).
The script uses a simple method to determine whether daylight saving time is active: it checks if the current month is between March and October. If yes, it assumes CEST (UTC+2), otherwise CET (UTC+1).
The current hour is adjusted based on the above calculation to match the Danish time.
Checking Current Bar's Time:

Two conditions (isOpen and isClose) are defined to check whether the current bar on the chart corresponds to the input openTime or closeTime.
Plotting:

If the current bar matches the openTime, a green vertical line is plotted.
If it matches the closeTime, a red vertical line is plotted.
Summary: This script marks the opening and closing times of a market (like the Danish stock market) on a TradingView chart using vertical lines. The time inputs are adjusted for the Danish time zone (considering daylight saving time).