This script presents the session range and post session movements relative to that range of all the majors and crosses on a single page. You can also set it to a daily range and weekly range (beta). It will even show you the pip value of the range. I made the indicator to easily stay on top of market movements at london open relative to the Asia session range. Its very easy to see which entire currency group is breaking its asia range WHIST ITS HAPPENING. Focus on NZD in the examples as it was the market lead today - I was able to get some of it when I saw the entire group breaking its range
Showing all the majors and crosses relative to the Asia range (00:00 - 07:00 GMT)
Active 'show on chart' to verify the indicator is measuring the range correctly. Compare below to the NZD box above - you can see how NZD had control of the market this morning and all NZD pairs broke out of their ranges.
'PIP MODE' - active pip mode to see what the pip range was of the session
Notes The information is presented RELATIVELY - this means that all the ranges and movements are scaled to be the same size. You are therefore seeing the movements relative to their ranges. When you see a breakout it relative to the size of the range - for example, if GBPJPY had a range of 50pips and breaks out of the range by 100 pip and GBPEUR has a range of 20 pips and breaks out by 40 pips they have both broken out double the range and will be displayed as the same distance.
The indicator will show the movements whilst the range is forming. I did this so I can see what the groups are doing before Europe open and be ready - such as lingering at the top end of its INCOMPLETE asia range. Be aware through that if the lines are flat at the top of the range WHILST THE RANGE IS STILL FORMING this does not mean price was flat, it means that price was pushing up and growing the range. (Price can't breakout until the range has formed at the end of the session)
The currency pairs are organised to show the strength or weakness of the selected group - this means that the base currency is always the select group. This is to present the data with currencies moving in the same direction rather than some reversed but meaning the same in relation to currency strength. In the NZD example:
I hope its useful. This is the most powerful indicator I've managed to write yet. It was difficult to make the code efficient enough to fit into the pinescript limit and still do everything.
Release Notes
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This is my favourite indicator - its incredible how powerful it is.
I cleaned all the code so this version...
-loads faster -will function as low as 1 min timeframe -has an organised input panel -I've
Hi, Cant get it working on my single chart either. Not sure why. Don't think I need to change the settings as UK too. Looks great, but doesnt work for me.
TrendTraderMH
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This is a screenshot of what I get, if anyone can help - would be appreciated. I have used XAU and the currency from Oanda as advised with no other indicators on it, but still cant get it working. Or does it only work for Premium members?
TrendTraderMH
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@john_everist After the update, I now get a score but no other lines for the different currencies. Not sure if this is a step forward in me trying to get it to work.
john_everist
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@TrendTraderMH, hi - sorry never really look at these comments.
Make sure that the 'scale price chart only' option is unticked. In your example your chart scale is in the 2900s so the indictor is most likely displaying but its range is between 3 and -3 (so its sitting at the bottom of the chart out of sight. Hope that helps.
TrendTraderMH
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@john_everist, Appreciate the reply. This is what I get when I select 'scale price chart only' option. So I take it that the original price chart remains at the top and you have to try and re-size the scale at the bottom for the -3 to 3 range you mention?
john_everist
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@TrendTraderMH, you're on the right track - all you have to do is high the candles on the chart. When you hover the mouse of the instrument title in the top left you'll see a little ''eye' icon - select it to hide the candles. Once they are gone the chart will scale to indicator
TrendTraderMH
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@john_everist, Thank you - you are a star. That was the missing key.
cooney_s
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Love your creativity and incredible work! Thanks!
Yafit369
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Hi John,
Any idea why its not working on my charts?
john_everist
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@Yafit369, Hi sorry for a late reply - i don't really look at the comments. see my reply to @TrendTraderMH. Its anchored to the scale so it will always sit at about a price of '0' regardless of the instrument you're looking at.