PSP/TrueOpen

💎 Precision Swing Point (PSP) & True Open Levels Indicator 🚀
This advanced tool highlights Precision Swing Points (PSPs) and plots True Open Levels across major timeframes. It’s designed to help you spot potential reversals, align with institutional bias, and build higher-probability setups — all while giving you full customization over how everything looks and feels.

🔥 Key Features:
PSP Candle Highlighting
Automatically detects and highlights candles that meet the PSP criteria — usually found at major turning points in the market. Full customization options for wick color, border color, and visual appearance.

True Open Levels

TSO – True Session Open

TDO – True Day Open

TWO – True Week Open

TMO – True Month Open

Customization Options (for each True Open level):

Color

Line type – solid, dashed, or checkered

Line length – full-width or shortened

Custom Text Labels – Add your own notes to each level (e.g., “Weekly Bias,” “Institutional Anchor”)

🌟 What is a PSP?
A Precision Swing Point is a specific candle formation that shows up before strong moves. It usually sweeps a key level and closes with intent. PSPs often confirm SMT or SSMT divergences with a candle close at key levels — adding conviction to the idea that a reversal or expansion is about to unfold.

These points offer clean, asymmetric opportunities when aligned with structure or higher-timeframe bias. This indicator spots them automatically for you — no more guessing.

🚨 How to Use True Opens to Your Advantage:
True Opens act as precision anchors for market bias. When you compare the current cycle’s open to the higher timeframe’s open, it gives instant insight into context.

If the current session/day/week opens below the higher timeframe’s open, you’re operating in extreme discount.
If it opens above, you’re sitting in extreme premium.

That tells you whether you’re trading from a favorable location or chasing into poor pricing — especially when combined with PSPs, SMT, or Fair Value Gaps.

✨ Why Use True Opens?
True Opens aren’t just lines — they represent where institutions reset the auction. Price respects them across all timeframes. Whether you're scalping NY session or planning a swing entry, these levels help frame the market, highlight where power shifts, and clarify if you're early or late to a move.

⚠️ Caution:
If you find the PSP candle colors aren’t visible or appear behind other chart elements, right-click on the candles, select Visual Order, then choose Send to Back. This will ensure the highlights display properly.

🌠 Thank you for using my indicator. I appreciate your trust and support — wishing you success and clarity in your trading journey.