A Swiss army knife of technical tools that institutions also use.
Content
The indicator contains:
Daily (base session) time weighted moving average (TWAP)
Fibonacci deviation cloud based on the base session TWAP
Overextension symbols based on the base session TWAP
Weekly, monthly and yearly TWAPs + the previous close levels
Regular daily, weekly, monthly and yearly open levels
Trading hours for London, New York, Tokyo and Sydney
Trading
TWAP The time weighted average price is similar to a VWAP, but the advantage of the TWAP is that it's universal. With VWAPs you can have different prices on different charts because of volume differences.
Especially for the bitcoin market (and maybe crypto as a whole) TWAPs are very interesting right now because a lot more institutions are entering the space and they make use of TWAPing methods.
Opens The opens are where the daily, weekly, monthly or yearly candle opened and then a dotted line is drawn from that level. These levels are used by institutions so they often act as key support/resistance levels.
Trading hours The trading hours show when legacy financial markets are officially open. This data is based on Investopedia which should be a reliable source. However the hours of some of the session are up for debate because for the London session for example the market opens at 8am according to Investopedia, but most financial news comes out at 7am. Because of this 7am is often the most active time for the London session instead of 8am. Keep that in mind.
The beginning of a session is usually a very active time for the market and this can give nice trading opportunities.
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