Session Candles and Reversal Tracking Across Global Trading Hours

Summary

This indicator aggregates open, high, low, and close values for four configurable trading sessions, with default UTC windows corresponding to London, New York, Sydney, and Tokyo. It can draw session candles, highlight session periods, and calculate a configurable moving average from selected session closes. Users can adjust the session definitions, display options, smoothing type, and which sessions contribute to the average.

The script also tracks confirmed upward and downward reversals for each session candle and provides alert conditions for individual sessions or any session. Its tables summarize reversal information and provide visual aids for examining session behavior. This is a charting and analysis tool, not a complete trading strategy: the document gives no rules for entering or exiting positions and no performance evidence. Session boundaries and calculations rely on timeframe and UTC settings, so users should check that their chart interval and instrument data support the intended interpretation.

Key ideas

• The indicator builds session candles from open, high, low, and close data within configurable time windows.
• Users can highlight sessions and calculate a smoothed average of selected session closes.
• The script marks confirmed upward and downward reversals and can generate session-specific or combined alerts.
• Its dashboards support visual study but do not define a full entry and exit strategy.
• Interpretation depends on session definitions, UTC alignment, and chart timeframe.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.