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Daily Market Bias Highlight

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This indicator is designed for Pine Script (TradingView) to automate your daily market bias assessment and highlight the critical execution window just before the New York open.
Core Functionality
15-Minute Pre-Market Window: Specifically highlights the background of your chart from 08:15 to 08:30 CT (America/Chicago), providing a visual countdown to the market open.

Daily Bias Logic: Automatically calculates whether the current sentiment is Bullish or Bearish based on price action from the previous two days.

Dealing Range Analysis: Uses a customizable lookback (defaulting to 20 days) to identify the "Equilibrium" (50% level) of the current price range.

Bias Rules
The indicator evaluates the daily trend using the following logic:

🟢 Bullish Bias: Triggered if price swept below the previous day's low and closed back inside (reclamation), or if the market simply closed above the previous day's high.

🔴 Bearish Bias: Triggered if price swept above the previous day's high and closed back inside (rejection), or if the market closed below the previous day's low.

Visual Elements
Background Highlight: Changes color during the pre-market window (Green for Bullish, Red for Bearish).

Range Markers: Plots the Range High, Range Low, and Equilibrium levels to show where price is sitting relative to the broader 20-day "Dealing Range".

Haftungsausschluss

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