OPEN-SOURCE SCRIPT
X Tail that Wags
intraday session-framework and ETH-anchored VWAP tool for TradingView. It draws today’s OVN (ETH) high/mid/low, today’s RTH-day open, previous day open/high/low, and a carried ETH VWAP handle (yesterday’s 4:00 PM NY VWAP, projected forward) to give you a clean, non-repainting scaffold for bias, structure, and execution. All timestamps are New York–local with DST handled explicitly, so historical sessions align correctly across time changes.
Key Capabilities
ETH OVN Range (18:00 → 09:30 NY)
Captures the rolling overnight high/low and computes the mid; at 09:30 NY it locks those levels and extends them to 16:00 NY (same day).
Optional labels (size/color configurable) placed slightly to the right of the 4 PM timestamp for readability.
Daily Handles (Today & Previous Day)
Today’s open line starts at the ETH open (anchor preserved) and extends toward 4 PM NY (or up to the “current bar + 5 bars” cap), with label control.
Previous day open/high/low plotted as discrete reference lines for carry-over structure.
ETH-Anchored VWAP (Live) + Bands
ETH-anchored VWAP runs only during the active ETH session (DST-aware).
Optional VWAP bands (0.5×, 1.0×, 2.0× multipliers) plotted as line-break series.
Carried ETH VWAP Handle (PD 4 PM Snapshot)
At 16:00 NY, the script snapshots the final ETH VWAP value.
On the next ETH open, it projects that value as a static dashed line through the session (non-mutating, non-repainting), with optional label.
Labeling & Styling
Single-toggle label system with color and five sizes.
Per-line color/width controls for quick visual hierarchy.
Internal “tail” logic keeps right endpoints near price (open-anchored lines extend to min(4 PM, now + 5 bars)), avoiding chart-wide overdraw.
Robust Session Logic
All session boundaries computed in NY local time; DST rules applied for historical bars.
Cross-midnight windows handled safely (no gaps or misalignment around day rolls).
Primary Use Cases
Session Bias & Context
Use OVN H/M/L and today’s open to define structural bias zones before RTH begins. A break-and-hold above OVN mid, for example, can filter long ideas; conversely, rejection at OVN high can warn of mean reversion.
Carry-Forward Mean/Value Reference
The carried ETH VWAP (PD 4 PM) acts as a “value memory” line for the next day. Traders can:
Fade tests away from it in balanced conditions,
Use it as a pullback/acceptance gauge during trends,
Track liquidity grabs when price spikes through and reclaims.
Execution Planning & Risk
Anchor stops/targets around PD H/L and OVN H/M/L for well-defined invalidation.
Combine with your entry model (order-flow, momentum, or pattern) to time fades at range extremes or momentum breaks from OVN mid.
Confluence Mapping
Layer the tool with opening range tools, HTF zones, or profile/VWAPs (weekly/daily) to spot high-quality confluence where multiple references cluster.
Regime & Day-Type Read
Quickly see whether RTH accepts/rejects the OVN range or gravitates to PD VWAP handle, helping classify the day (trend, balanced, double-distribution, etc.).
Quick Start
Apply to your intraday chart (any instrument supported by TradingView; best on ≤15m for live intraday context).
In Current Day group, keep Open and OVN HL on; optionally display the mid.
In Previous Day group, enable PD Open/HL for carry-over levels.
Enable AVWAP if you want live ETH-anchored VWAP and its Bands for distance context.
Keep PD VWAP on to project yesterday’s 4 PM ETH VWAP as a static dashed line into today.
Use the Label group to size/color the on-chart tags.
Settings Overview (Plain-English)
Label: Toggle labels on/off; choose label text color and size.
Current Day:
Open (color/width) — daily open line anchored at ETH open.
OVN HL (and Mid) — overnight high/low and midpoint, locked at 09:30 and extended to 16:00.
AVWAP + Bands — ETH-anchored VWAP with optional 0.5×/1×/2× bands.
Previous Day:
PD Open/HL — yesterday’s daily handles.
PD VWAP — the carried snapshot of yesterday’s 4 PM ETH VWAP projected forward (dashed).
Notes & Best Practices
Time Zone: All session logic is hard-coded to America/New_York and DST-robust. No manual DST tweaks required.
Non-Repainting: The carried PD VWAP line is a snapshot; once drawn, it does not back-fill or mutate.
Intraday Use: Designed for intraday execution. It will display on higher TFs, but the session granularity is most informative at ≤15m.
Performance: Script caps lines/labels (500) and uses short “tails” to keep charts responsive.
Compatibility: Uses request.security(..., "D", series, lookahead_on) intentionally to lock daily handles early for planning; this is by design.
Typical Playbook Examples
Fade Extremes in Balance: As RTH opens inside OVN, look for rejection wicks at OVN High with confluence from PD VWAP handle overhead; risk above OVN High.
Trend Continuation: In directional sessions, acceptances above OVN Mid with price pulling back to the live ETH VWAP can offer continuation entries.
Reversion to Value: Sharp extensions away from the carried PD VWAP that quickly stall often revert to that handle; use it as a target or as an acceptance test.
Key Capabilities
ETH OVN Range (18:00 → 09:30 NY)
Captures the rolling overnight high/low and computes the mid; at 09:30 NY it locks those levels and extends them to 16:00 NY (same day).
Optional labels (size/color configurable) placed slightly to the right of the 4 PM timestamp for readability.
Daily Handles (Today & Previous Day)
Today’s open line starts at the ETH open (anchor preserved) and extends toward 4 PM NY (or up to the “current bar + 5 bars” cap), with label control.
Previous day open/high/low plotted as discrete reference lines for carry-over structure.
ETH-Anchored VWAP (Live) + Bands
ETH-anchored VWAP runs only during the active ETH session (DST-aware).
Optional VWAP bands (0.5×, 1.0×, 2.0× multipliers) plotted as line-break series.
Carried ETH VWAP Handle (PD 4 PM Snapshot)
At 16:00 NY, the script snapshots the final ETH VWAP value.
On the next ETH open, it projects that value as a static dashed line through the session (non-mutating, non-repainting), with optional label.
Labeling & Styling
Single-toggle label system with color and five sizes.
Per-line color/width controls for quick visual hierarchy.
Internal “tail” logic keeps right endpoints near price (open-anchored lines extend to min(4 PM, now + 5 bars)), avoiding chart-wide overdraw.
Robust Session Logic
All session boundaries computed in NY local time; DST rules applied for historical bars.
Cross-midnight windows handled safely (no gaps or misalignment around day rolls).
Primary Use Cases
Session Bias & Context
Use OVN H/M/L and today’s open to define structural bias zones before RTH begins. A break-and-hold above OVN mid, for example, can filter long ideas; conversely, rejection at OVN high can warn of mean reversion.
Carry-Forward Mean/Value Reference
The carried ETH VWAP (PD 4 PM) acts as a “value memory” line for the next day. Traders can:
Fade tests away from it in balanced conditions,
Use it as a pullback/acceptance gauge during trends,
Track liquidity grabs when price spikes through and reclaims.
Execution Planning & Risk
Anchor stops/targets around PD H/L and OVN H/M/L for well-defined invalidation.
Combine with your entry model (order-flow, momentum, or pattern) to time fades at range extremes or momentum breaks from OVN mid.
Confluence Mapping
Layer the tool with opening range tools, HTF zones, or profile/VWAPs (weekly/daily) to spot high-quality confluence where multiple references cluster.
Regime & Day-Type Read
Quickly see whether RTH accepts/rejects the OVN range or gravitates to PD VWAP handle, helping classify the day (trend, balanced, double-distribution, etc.).
Quick Start
Apply to your intraday chart (any instrument supported by TradingView; best on ≤15m for live intraday context).
In Current Day group, keep Open and OVN HL on; optionally display the mid.
In Previous Day group, enable PD Open/HL for carry-over levels.
Enable AVWAP if you want live ETH-anchored VWAP and its Bands for distance context.
Keep PD VWAP on to project yesterday’s 4 PM ETH VWAP as a static dashed line into today.
Use the Label group to size/color the on-chart tags.
Settings Overview (Plain-English)
Label: Toggle labels on/off; choose label text color and size.
Current Day:
Open (color/width) — daily open line anchored at ETH open.
OVN HL (and Mid) — overnight high/low and midpoint, locked at 09:30 and extended to 16:00.
AVWAP + Bands — ETH-anchored VWAP with optional 0.5×/1×/2× bands.
Previous Day:
PD Open/HL — yesterday’s daily handles.
PD VWAP — the carried snapshot of yesterday’s 4 PM ETH VWAP projected forward (dashed).
Notes & Best Practices
Time Zone: All session logic is hard-coded to America/New_York and DST-robust. No manual DST tweaks required.
Non-Repainting: The carried PD VWAP line is a snapshot; once drawn, it does not back-fill or mutate.
Intraday Use: Designed for intraday execution. It will display on higher TFs, but the session granularity is most informative at ≤15m.
Performance: Script caps lines/labels (500) and uses short “tails” to keep charts responsive.
Compatibility: Uses request.security(..., "D", series, lookahead_on) intentionally to lock daily handles early for planning; this is by design.
Typical Playbook Examples
Fade Extremes in Balance: As RTH opens inside OVN, look for rejection wicks at OVN High with confluence from PD VWAP handle overhead; risk above OVN High.
Trend Continuation: In directional sessions, acceptances above OVN Mid with price pulling back to the live ETH VWAP can offer continuation entries.
Reversion to Value: Sharp extensions away from the carried PD VWAP that quickly stall often revert to that handle; use it as a target or as an acceptance test.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.