Orion Daily Bias v1

What It Does
The Daily Bias Indicator identifies the daily market bias (bullish or bearish) using principles inspired by institutional trading activity. It analyses daily price action to detect imbalances caused by large market participants, providing a clear directional bias for the upcoming trading day.

Key Features
Daily Bias Signals:
Displays "Daily Bias: Bullish" (green) or "Daily Bias: Bearish" (red) in the top-right corner of your chart.

Colors daily candles to reflect the current bias (toggle on/off).

Non-Repainting:
Signals finalize only at market close and never change retroactively.

Intraday Flexibility:

Use the daily bias to align intraday strategies (e.g., 15-minute entries) with the broader trend.

Custom Alerts:
Receive alerts only when the bias changes (e.g., bullish to bearish). Alerts trigger at market close, preparing you for the next trading day.

How It Works
Market Close Analysis:

At the end of each trading day, the indicator evaluates price action and institutional-level inefficiencies to determine the next day’s bias.

Visual Guidance:
Daily candles are coloured green (bullish) or red (bearish) to reflect the confirmed bias.

A label in the top-right corner updates automatically across all timeframes.

Actionable Alerts:
Set alerts to notify you only when the bias shifts, helping you stay focused on high-probability setups.

Why Traders Use It
Simplify Decision-Making: Start each day with a clear bias, avoiding trades against institutional momentum.

Adaptable to Strategies: Works with scalping, swing trading, or position building.

Rule-Based Signals: Objective criteria finalize at market close.

Settings & Parameters
Candle Colouring: Enable/disable daily candle highlights.
Daily bias label: Turn the daily bias label on and off

Alerts: Setting an alert with this indicator will only alert you if a bias changes from bullish to bearish or vice versa.

How to Use It
Add the indicator to your chart (works on any timeframe).

Check the top-right label for the daily bias.

Set alerts to track bias changes effortlessly.

Combine with your preferred intraday strategy for entries/exits.

Important Notes
No Repainting: Signals lock in at daily close and never change.

Confirmation Tool: Pair with additional analysis (e.g., support/resistance, volume).

Time Agnostic: The daily bias applies to all intraday timeframes (1H, 15M, etc.).

Disclaimer
This tool is for educational purposes only. It is not financial advice, and past performance does not guarantee future results. Always test strategies in a risk-controlled environment.