FT Sessions

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FT Sessions
Overview

The FT Sessions is a highly customizable and powerful indicator designed for intraday traders who focus on session-based analysis. This script visually highlights global market sessions—Asia, Frankfurt, London, and New York (AM & PM)—on the chart, making it easier to track session ranges and analyze intraday price movements.
Key Features

Customizable Session Times and Colors:
Define your own session times and assign unique colors for better visibility.

Session Range Visualization:
Displays high and low ranges for each session.
Optional transparent range areas with outlines for clarity.
Configurable session range labels for enhanced readability.

Flexible Timezone Settings:
Choose a UTC offset or sync with the exchange's timezone.

User-Friendly Customization:
Compact settings for easier adjustments.
Enable or disable specific sessions to focus on relevant market activity.

How This Script Differs from LuxAlgo

This script draws inspiration from LuxAlgo's session tracking concept but has been developed with significant modifications and unique features:

Built from Scratch in Pine Script v5:
Fully optimized for Pine Script’s latest version, improving performance and functionality.

Expanded Session Range Features:
Five unique sessions (Asia, Frankfurt, London, New York AM, New York PM) with customizable ranges, colors, and labels.
Real-time updating of session ranges for improved intraday analysis.

4H Timeframe Optimization:
Automatically notifies users if applied to an unsupported timeframe, ensuring session accuracy.

Highly Configurable Input Options:
Advanced timezone handling and compact session management settings.

Unique Coding Structure:
Designed to maximize efficiency and minimize resource usage on TradingView.

While LuxAlgo focuses on session concepts, this script brings a fresh, customizable approach specifically tailored for intraday traders seeking precision in tracking session activity.
How It Works

The indicator tracks price movements within each session.
Highlights the high and low range of each session directly on the chart.
Updates session ranges in real-time to reflect evolving market conditions.

Practical Applications

Intraday Trading: Plan trades based on major market session ranges.
Breakout Strategies: Use session high and low levels to identify potential breakouts.
Session-Specific Patterns: Spot consolidations and reversals within session activity.

Important Notes

Optimized for the 4H timeframe. If applied to another timeframe, a notification will appear.
Best used in combination with other tools (e.g., volume or trend indicators) for a complete trading strategy.

Credits

This script draws inspiration from LuxAlgo's open-source session-tracking methodology. However, it introduces substantial improvements and unique features that set it apart. Full credit is given to LuxAlgo for their original open-source concept.
Disclaimer

This script is for informational and educational purposes only. Always test on a demo account before applying to live markets.

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Nota Keluaran

This change introduces a new feature to allow users to dynamically adjust the size of session labels in the FT Sessions indicator. By adding an input option for label size, users can now choose from predefined options such as "tiny", "small", "normal", "large", or "huge", which enhances the flexibility and user experience of the script. This customization allows traders to personalize their charting environment, making it easier to view session labels based on their preference and screen resolution.