Sessions KillZones Library [TradingFinder]

14 Mei

🔵Introduction

"The Forex Trading Sessions" highlight the active periods across different markets where significant trading volume and influence on the forex market are evident. The primary trading sessions globally include the "Asian Session," "London Session," and "New York Session."

A "Kill Zone" refers to a segment within a session characterized by high trading volume and notably sharper price movements. Consequently, there's a higher probability of encountering price action setups within these zones. Traders capitalize on this phenomenon in pursuit of more successful trading outcomes.

If you aim to integrate sessions or kill zones into your indicators or strategies, utilizing this library can amplify the precision and efficiency of your Python script development.


🔵How to Use

First, you can add the library to your code as shown in the example below:

Pine Script®

🟣Parameters

Pine Script®

Session_Name: You must enter the session name in this parameter.

Session_Time: Enter here the start and end time of the session, which should be based on the UTC time zone.

KillZone_Time: Enter the start and end times of the kill zone, which should be based on the UTC time zone, here.

Session_Show: You can control whether or not to show the session using this entry. You must set true to display and false to not display.

KillZone_Show: Using this input you can control whether the kill zone is displayed or not. You must set true to display and false to not display.

AreaUpdate: If you want the session to be determined based on the time and high and low of the session itself, you must enter "Session" and if you want the area to be determined based on the time and high and low of the kill zone, you must enter "Kill Zone".

MoreInfo: If you want more information, you should set this entry to true, otherwise set to false. This information includes the number of candles in the area, the length of time in the area and the volume of transactions in the area.

Session_Color: Enter your desired color to display the session at this section. It is recommended to use bright and sharp colors.

Info_Color: Enter your desired color to display more information in this section.









🔵Function Outputs
The outputs of this function are direct and indirect.


🟣Indirect outputs
These outputs include session display, kill zone display, and time and volume information of session or kill zone.


🟣Direct outputs

There are 8 direct outputs, which are:

Session Time: If the Session is active, it outputs 1, and if the Session is inactive, it outputs 0.

Kill Zone Time: If the Kill Zone is active, it outputs 1, and if the Kill Zone is inactive, it outputs 0.

Open: Session opening price.

High: The highest price of the session.

Low: The lowest price of the session.

Close: The last price of the session.

Low Touch Alert: If "Area Update" is in "Kill Zone" mode, if the price reaches the lowest price of the kill zone in the same session after the end of the kill zone, this output will be true. You can use this output to create an alert.

High Touch Alert: If "Area Update" is in "Kill Zone" mode, if the price reaches the highest price of the kill zone in the same session after the end of the kill zone, this output will be true. You can use this output to create an alert.



Important: To use "Open", "High", "Low" and "Close", "Area Update" must be in "Session" mode.