This script presents the session range and post session movements relative to that range of all the majors and crosses on a single page. You can also set it to a daily range and weekly range (beta). It will even show you the pip value of the range. I made the indicator to easily stay on top of market movements at london open relative to the Asia session range. Its very easy to see which entire currency group is breaking its asia range WHIST ITS HAPPENING. Focus on NZD in the examples as it was the market lead today - I was able to get some of it when I saw the entire group breaking its range
Showing all the majors and crosses relative to the Asia range (00:00 - 07:00 GMT )
Active 'show on chart' to verify the indicator is measuring the range correctly. Compare below to the NZD box above - you can see how NZD had control of the market this morning and all NZD pairs broke out of their ranges.
'PIP MODE' - active pip mode to see what the pip range was of the session
The information is presented RELATIVELY - this means that all the ranges and movements are scaled to be the same size. You are therefore seeing the movements relative to their ranges. When you see a breakout it relative to the size of the range - for example, if GBPJPY had a range of 50pips and breaks out of the range by 100 pip and GBPEUR has a range of 20 pips and breaks out by 40 pips they have both broken out double the range and will be displayed as the same distance.
The indicator will show the movements whilst the range is forming. I did this so I can see what the groups are doing before Europe open and be ready - such as lingering at the top end of its INCOMPLETE asia range. Be aware through that if the lines are flat at the top of the range WHILST THE RANGE IS STILL FORMING this does not mean price was flat, it means that price was pushing up and growing the range. (Price can't breakout until the range has formed at the end of the session)
The currency pairs are organised to show the strength or weakness of the selected group - this means that the base currency is always the select group. This is to present the data with currencies moving in the same direction rather than some reversed but meaning the same in relation to currency strength. In the NZD example:
NZDAUD (not AUDNZD )
NZDEUR (not EURNZD )
NZDGBP (not GBPNZD )
I hope its useful. This is the most powerful indicator I've managed to write yet. It was difficult to make the code efficient enough to fit into the pinescript limit and still do everything.
Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.
You can't trade from this but you can use it to compliment a strategy you choose to use by staying constantly aware of the market movement from a single page.
hope that helps
Thanks for responding. It's a good sign. I understand that I can't trade with it. But, it will allow me to make informed trading decisions. How can I get access to it? Do you share the daily movements with people?
if you don't yet know the basics of trading id limit yourself to one or three chart and work from there. this indicator will comfuse you until you understand the basics.
Thanks for responding. But how do I add the indicator to my chart?
If you look at some of the TradingView tutorials it will show you how to add indicators and modify the settings to what you like. To get all eight windows on the screen at the same time you need to be a premium member - As a pro member I think you’re limited to 4
See the example above And look in the description at the top left to see how gold is crossed with a currency.