Global Market Session Indicator

A custom indicator created by TrendSpider Team on TrendSpider. You can import this custom indicator into your TrendSpider account. Don't have TrendSpider? Create an account first, then import the custom indicator.

This indicator tracks and highlights the start and end of key global market sessions (Sydney, Tokyo, London, New York) with vertical lines, allowing traders to visualize how price movements are influenced by different market openings and closings. It paints the Open, High, Low, and Close price levels of each session on the chart, providing key price points for analysis. Additionally, the indicator marks the start of each new trading day with a vertical line, offering a clear visual reference for session-based trading strategies. To turn on the levels, turn on 'Levels' in the settings of the indicator.

Source code

This indicator had been implemented by TrendSpider Team in JavaScript on TrendSpider. Check out the developer documentation to learn more about JS on TrendSpider.

describe_indicator('Global Market Session Indicator');
const markets = [
    { name: 'Sydney', opening: 16, closing: 1 },
    { name: 'Tokyo', opening: 19, closing: 4 },
    { name: 'London', opening: 2, closing: 11 },
    { name: 'NY', opening: 8, closing: 17 }
].map(market => { return { ...market, enabled: input.boolean(market.name, true) } });
const marketsNames = markets.map(market => market.name);
const priceLevelsMarketIndex = marketsNames.indexOf(input.select('Levels of', 'None', ['None', ...marketsNames]));
const labels = series_of(null);
const openingTop = series_of(null);
const openingBottom = series_of(null);
const closingTop = series_of(null);
const closingBottom = series_of(null);
const newDayTop = series_of(null);
const newDayBottom = series_of(null);
const areaTop = 1e+3 * close[close.length - 1];
const checkTimeAndUpdateLines = (currentIndex, targetTime, name, topSeries, bottomSeries) => {
    if (
        time_of(time[currentIndex]).hours == targetTime &&
        time_of(time[currentIndex - 1]).hours != targetTime
    ) {
        labels[currentIndex] = name;
        topSeries[currentIndex - 1] = areaTop;
        topSeries[currentIndex] = areaTop;
        topSeries[currentIndex + 1] = areaTop;
        bottomSeries[currentIndex - 1] = -areaTop;
        bottomSeries[currentIndex] = -areaTop;
        bottomSeries[currentIndex + 1] = -areaTop;
        return true;
    }
    return false;
}
for (let candleIndex = 1; candleIndex < close.length - 1; candleIndex++) {
    for (let marketIndex = 0; marketIndex < markets.length; marketIndex++) {
        const { name, opening, closing, enabled } = markets[marketIndex];
        if (enabled) {
            if (checkTimeAndUpdateLines(candleIndex, opening, `${name}_O`, openingTop, openingBottom)) {
                markets[marketIndex].isOpen = true;
                markets[marketIndex].openIndex = candleIndex;
                markets[marketIndex].highIndex = candleIndex;
                markets[marketIndex].lowIndex = candleIndex;
            }
            if (checkTimeAndUpdateLines(candleIndex, closing, `${name}_C`, closingTop, closingBottom)) {
                markets[marketIndex].closeIndex = candleIndex;
                markets[marketIndex].isOpen = false;
            }
            if (markets[marketIndex].isOpen) {
                if (high[candleIndex] > high[markets[marketIndex].highIndex]) {
                    markets[marketIndex].highIndex = candleIndex;
                }
                if (low[candleIndex] < low[markets[marketIndex].lowIndex]) {
                    markets[marketIndex].lowIndex = candleIndex;
                }
            }
        }
    }
    checkTimeAndUpdateLines(candleIndex, 0, 'New24Hrs', newDayTop, newDayBottom);
}
paint(labels, {style: 'labels_above', name: 'Labels'});
fill(paint(openingTop, { hidden: true }), paint(openingBottom, { hidden: true }), 'darkGreen', undefined, 'Exchange Open');
fill(paint(closingTop, { hidden: true }), paint(closingBottom, { hidden: true }), 'red', undefined, 'Exchange Close');
fill(paint(newDayTop, { hidden: true }), paint(newDayBottom, { hidden: true }), 'black', undefined, 'New 24Hrs');
const levelsLines = {
    open: series_of(null),
    high: series_of(null),
    low: series_of(null),
    close: series_of(null)
};
let selectedMarketName = '';
if (priceLevelsMarketIndex !== -1) {
    const {openIndex, highIndex, lowIndex, closeIndex, name} = markets[priceLevelsMarketIndex];
    selectedMarketName = name;
    levelsLines.open = horizontal_line(open[openIndex], openIndex);
    levelsLines.high = horizontal_line(high[highIndex], highIndex);
    levelsLines.low = horizontal_line(low[lowIndex], lowIndex);
    levelsLines.close = horizontal_line(close[closeIndex], closeIndex);
}
paint_label_at_line(paint(levelsLines.open, { name: 'Open', color: 'black', style: 'dotted' }), close.length - 1, `${selectedMarketName} Open`);
paint_label_at_line(paint(levelsLines.high, { name: 'High', color: 'green', thickness: 2 }), close.length - 1, `${selectedMarketName} High`);
paint_label_at_line(paint(levelsLines.low, { name: 'Low', color: 'red', thickness: 2 }), close.length - 1, `${selectedMarketName} Low`);
paint_label_at_line(paint(levelsLines.close, { name: 'Close', color: 'black', style: 'dotted' }), close.length - 1, `${selectedMarketName} Close`);