SESSION BREAKOUT INDICATOR

Job finished

Execution time 2 hours
Feedback from employee
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Feedback from customer
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Specification

Session Breakout Indicator Rules

1. Session Times (Adjustable Inputs)

- Asia Session: 01:00 – 10:00
- London Session: 10:00 – 15:00
- New York Session: 15:00 – 22:00
- Time format: HH:MM (24-hour format)
- All times are in broker/server time and should be user-adjustable.

2. Session High/Low Line Drawing

- Timeframe reference: 15-minute chart (always use 15M data, even if current chart is 1M or 5M).
- At the close of the first 15-minute candle of the session:
  - Draw a horizontal line at the high of that candle.
  - Draw a horizontal line at the low of that candle.
- These lines must extend until the session end time.

3. Breakout Candle Rules

Bullish Breakout (Buy Arrow)

- Must be the first bullish candle that:
  - Opens above the session high line, and
  - Closes above the session high line, and
  - Does not touch the session high or low lines (including wicks).
- If price returns inside the range and breaks out again later:
  - Apply the same conditions to identify a new valid breakout candle.

Bearish Breakout (Sell Arrow)

- Must be the first bearish candle that:
  - Opens below the session low line, and
  - Closes below the session low line, and
  - Does not touch the session high or low lines (including wicks).
- If price re-enters the range and breaks out again later:
  - Apply the same conditions to detect a new valid breakout.

4. Chart Compatibility

- If the indicator is applied to a 1-minute or 5-minute chart,
  - Still use the 15-minute timeframe to determine the session high/low.

 

Indicator arrows should have buffers to make an EA


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Project information

Budget
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Deadline
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