Plotting Prior Day and Week Liquidity Levels with Session Windows
Summary
The document describes a charting indicator that marks the previous day’s and week’s highs and lows as potential liquidity reference levels. It frames these prices as areas where stop orders and institutional activity may cluster, and suggests traders watch for price movement toward them. It also marks Tokyo, London, and New York session windows, which the document calls kill zones, to help focus attention on selected trading hours.
The tool automates drawing and offers controls for which levels and past sessions to show, session times, line appearance, and labels. This can make chart preparation more consistent, but the text supplies no entry, exit, or risk-management rules and no backtest or other evidence that the plotted levels predict price movement. The described liquidity pools are likely targets, not confirmed destinations, and session markers organize observation rather than establish a profitable signal.
Key ideas
- Prior day and week highs and lows are presented as possible liquidity reference points.
- The indicator automatically plots those levels and labels them on a chart.
- Tokyo, London, and New York windows can be marked with adjustable times.
- Display controls include line styles, colors, labels, and historical session visibility.
- The document provides no performance evidence or complete trading strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.