OPEN-SOURCE SCRIPT
12-Hour High/Low Break Indicator [jH]
The indices (ES/NQ ETC) tend to have short term reversals after violating a high or a low on the 12 hour candle. This script takes the 24hr cycle and breaks it into two sessions (18:00 EST to 05:59 EST and 06:00 EST to 16:00 EST). It provides a signal when one of the sessions violates the high or low of the previous 12 hr session.
A red triangle is created when one session violates the high of the previous session.
A green triangle is created when one session violates the low of the previous session.
Used in conjunction with other indicators and price action theory, a simple but effective stratagy can be formulated.
A red triangle is created when one session violates the high of the previous session.
A green triangle is created when one session violates the low of the previous session.
Used in conjunction with other indicators and price action theory, a simple but effective stratagy can be formulated.
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