OPEN-SOURCE SCRIPT
MRG Session High/Low
MRG Session High/Low - Indicator Description
📊 Overview
This Pine Script indicator automatically displays key levels from Asian and London trading sessions on your TradingView chart. It plots the high and low points of each completed session, allowing you to quickly identify important support and resistance zones for your trades.
🎯 Key Features
Detected Sessions (New York Timezone)
Asian Session: 18:00 - 03:00 (6pm - 3am)
London Session: 03:00 - 09:00 (3am - 9.30am)
Plotted Levels
Session High: The highest point reached during the session
Session Low: The lowest point reached during the session
Start Lines: Vertical dashed lines marking the beginning of each session (optional)
⚙️ Customizable Settings
Display Options
✅ Show/hide Asian Session
✅ Show/hide London Session
✅ Show/hide session start lines
Style Options
🎨 Asian Color: Orange by default
🎨 London Color: Blue by default
🎨 Start lines color: Red by default
📏 Line thickness: Adjustable from 1 to 5
🔍 How It Works
Automatic Detection: The indicator automatically detects when a new session begins
Level Calculation: During each session, it continuously records highs and lows
Line Plotting: At the end of each session, it draws two horizontal lines:
One line at the session high level
One line at the session low level
Extension: Lines extend to the right for easy future identification
📈 Strategic Usage
For Breakout Trading
Trade breakouts of Asian and London session highs/lows
Breakouts from these levels often signal the beginning of significant moves
For Support and Resistance
Use these levels as key support and resistance zones
Prices often come back to test these levels during the New York session
For Multi-Timeframe Analysis
Identify consolidation during Asian/London sessions
Anticipate volatility at New York open
💡 Advantages
✨ Clear and automatic visualization of session levels
⏱️ Time-saving: no need to manually draw levels
🎯 Precise levels based on actual highs/lows of each session
🔄 Automatically updates daily
📱 Compatible with all timeframes (recommended: M5, M15, H1)
🎓 Ideal For
Forex traders (especially XAUUSD, EUR/USD, GBP/USD)
Scalpers and day traders
Session breakout strategies
Trading around New York open
Liquidity zone analysis
📌 Important Note
The indicator uses New York timezone (America/New_York) to ensure session time accuracy, regardless of your local timezone.
📊 Overview
This Pine Script indicator automatically displays key levels from Asian and London trading sessions on your TradingView chart. It plots the high and low points of each completed session, allowing you to quickly identify important support and resistance zones for your trades.
🎯 Key Features
Detected Sessions (New York Timezone)
Asian Session: 18:00 - 03:00 (6pm - 3am)
London Session: 03:00 - 09:00 (3am - 9.30am)
Plotted Levels
Session High: The highest point reached during the session
Session Low: The lowest point reached during the session
Start Lines: Vertical dashed lines marking the beginning of each session (optional)
⚙️ Customizable Settings
Display Options
✅ Show/hide Asian Session
✅ Show/hide London Session
✅ Show/hide session start lines
Style Options
🎨 Asian Color: Orange by default
🎨 London Color: Blue by default
🎨 Start lines color: Red by default
📏 Line thickness: Adjustable from 1 to 5
🔍 How It Works
Automatic Detection: The indicator automatically detects when a new session begins
Level Calculation: During each session, it continuously records highs and lows
Line Plotting: At the end of each session, it draws two horizontal lines:
One line at the session high level
One line at the session low level
Extension: Lines extend to the right for easy future identification
📈 Strategic Usage
For Breakout Trading
Trade breakouts of Asian and London session highs/lows
Breakouts from these levels often signal the beginning of significant moves
For Support and Resistance
Use these levels as key support and resistance zones
Prices often come back to test these levels during the New York session
For Multi-Timeframe Analysis
Identify consolidation during Asian/London sessions
Anticipate volatility at New York open
💡 Advantages
✨ Clear and automatic visualization of session levels
⏱️ Time-saving: no need to manually draw levels
🎯 Precise levels based on actual highs/lows of each session
🔄 Automatically updates daily
📱 Compatible with all timeframes (recommended: M5, M15, H1)
🎓 Ideal For
Forex traders (especially XAUUSD, EUR/USD, GBP/USD)
Scalpers and day traders
Session breakout strategies
Trading around New York open
Liquidity zone analysis
📌 Important Note
The indicator uses New York timezone (America/New_York) to ensure session time accuracy, regardless of your local timezone.
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.