Weekend High Low

The Weekend Range Indicator is a specialized tool designed to highlight the price range of an asset during the weekend period, offering traders valuable insights into market behaviour outside standard weekday trading hours. This indicator is particularly useful for analysing weekend price action, which can differ significantly from weekday movements due to factors like lower liquidity, market closures, or unique weekend events. It’s an ideal companion for assets like cryptocurrencies that trade 24/7, while also providing post-weekend analysis for other markets.
Purpose
Weekend price ranges often act as critical reference points for identifying potential support and resistance levels, breakout opportunities, or consolidation patterns. By clearly plotting the high and low prices over the weekend, this indicator helps traders gauge market sentiment and volatility during this period, empowering them to make better-informed decisions for the upcoming trading week.
How to Use
Adding the Indicator: Find and select the Weekend Range Indicator from the TradingView indicators menu, then add it to your chart.

Customization: Tailor the settings to your needs—adjust the weekend period based on your preferred time zone or include/exclude specific days (e.g., holidays or partial trading days).

Interpretation: The indicator displays distinct markers for the weekend’s high and low prices, making it easy to visualize the range and incorporate into your trading strategy.

Key Features
Customizable Weekend Definition: Define the weekend period to suit your market or time zone, ensuring flexibility for global traders.

Multi-Timeframe Support: Works seamlessly across all chart time frames, whether you’re a scalper, day trader, or long-term investor.

Visual Clarity: High and low markers are clearly plotted, keeping your chart clean and the weekend range easy to spot.

Example Use Case
Imagine a cryptocurrency trader analysing Bitcoin. If the Weekend Range Indicator shows a tight consolidation between a high of $60,000 and a low of $59,500 over the weekend, they might anticipate a breakout when volume spikes on Monday. Using the weekend high and low as key levels, they could set precise entry and exit points for their trade.
Disclaimer
This indicator relies on historical price data and does not predict future market movements. For best results, combine it with other technical analysis tools and sound risk management practices.
By adding the Weekend Range Indicator to your toolkit, you’ll gain a clearer understanding of weekend market dynamics and sharpen your edge for the trading week ahead.


By Habitat