PROTECTED SOURCE SCRIPT
Updated 10 AM Slam
What's the 10 AM slam?
The "10 AM slam" refers to a sudden and seemingly coordinated spike in "often" selling pressure, igniting momentum which usually happens at 10:00 AM ET, often meme'd by HZH
This time is import because it follows the opening of the U.S. equity market and futures markets, allowing approximately half an hour for traders to digest overnight news, morning economic data release and initial market sentiment.
A "slam" down during this period, where a spike of concentrated sell orders or activity from algorithmic traders usually stands out against the a more usual balanced intraday flow.
One can argue that such moves may be strategically timed to happen when market liquidity is thin or when traders are less prepared and potentially trigger selling by pushing price down below certain "support" lines or psychological numbers which creates a short-term downward momentum that HFT firms can profit on.
New York Time
Using the built-in timestamp() function to define a precise time window—10:00 AM to 10:30 AM—based on the "America/New_York" timezone. This ensures that the highlighted interval always corresponds to this exact local market time, regardless of the chart’s current display timezone.
The script checks the day of the week using dayofweek. It only runs its highlighting and calculations from Monday through Friday, ignoring weekends.
Session Highs and Lows
session_high: Tracks the highest price reached within the time range.
session_low: Tracks the lowest price reached within the time range.
Once 10:30 AM passes, the indicator stops recording. At that moment, if it successfully gathered session highs and lows, it draws two horizontal lines on the chart:
* A green line at the session’s high price level
* A red line at the session’s low price level
How to use?
If you believe in the "10am slam" narrative, you can use this to spot the session’s initial volatility range. This helps in spotting if a downward move truly happens and whether it’s 'sustained' or 'quickly reversed'.
The "10 AM slam" refers to a sudden and seemingly coordinated spike in "often" selling pressure, igniting momentum which usually happens at 10:00 AM ET, often meme'd by HZH
This time is import because it follows the opening of the U.S. equity market and futures markets, allowing approximately half an hour for traders to digest overnight news, morning economic data release and initial market sentiment.
A "slam" down during this period, where a spike of concentrated sell orders or activity from algorithmic traders usually stands out against the a more usual balanced intraday flow.
One can argue that such moves may be strategically timed to happen when market liquidity is thin or when traders are less prepared and potentially trigger selling by pushing price down below certain "support" lines or psychological numbers which creates a short-term downward momentum that HFT firms can profit on.
New York Time
Using the built-in timestamp() function to define a precise time window—10:00 AM to 10:30 AM—based on the "America/New_York" timezone. This ensures that the highlighted interval always corresponds to this exact local market time, regardless of the chart’s current display timezone.
The script checks the day of the week using dayofweek. It only runs its highlighting and calculations from Monday through Friday, ignoring weekends.
Session Highs and Lows
session_high: Tracks the highest price reached within the time range.
session_low: Tracks the lowest price reached within the time range.
Once 10:30 AM passes, the indicator stops recording. At that moment, if it successfully gathered session highs and lows, it draws two horizontal lines on the chart:
* A green line at the session’s high price level
* A red line at the session’s low price level
How to use?
If you believe in the "10am slam" narrative, you can use this to spot the session’s initial volatility range. This helps in spotting if a downward move truly happens and whether it’s 'sustained' or 'quickly reversed'.
Release Notes
The "10 AM slam" refers to a sudden and seemingly coordinated spike in "often" selling pressure, igniting momentum which usually happens at 10:00 AM ETThis time is import because it follows the opening of the U.S. equity market and futures markets, allowing approximately half an hour for traders to digest overnight news, morning economic data release and initial market sentiment.
A "slam" down during this period, where a spike of concentrated sell orders or activity from algorithmic traders usually stands out against the a more usual balanced intraday flow.
One can argue that such moves may be strategically timed to happen when market liquidity is thin or when traders are less prepared and potentially trigger selling by pushing price down below certain "support" lines or psychological numbers which creates a short-term downward momentum that HFT firms can profit on.
New York Time
Using the built-in timestamp() function to define a precise time window—10:00 AM to 10:30 AM—based on the "America/New_York" timezone. This ensures that the highlighted interval always corresponds to this exact local market time, regardless of the chart’s current display timezone.
The script checks the day of the week using dayofweek. It only runs its highlighting and calculations from Monday through Friday, ignoring weekends.
Session Highs and Lows
session_high: Tracks the highest price reached within the time range.
session_low: Tracks the lowest price reached within the time range.
Once 10:30 AM passes, the indicator stops recording. At that moment, if it successfully gathered session highs and lows, it draws two horizontal lines on the chart:
* A green line at the session’s high price level
* A red line at the session’s low price level
Traders who believe in the "10am slam" narrative can use this to quickly spot the session’s initial volatility range. This helps in spotting if a downward move truly happens and whether it’s sustained or quickly reversed.
Release Notes
updateProtected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.