thought on forex hours by Kiwi
240 Min / 4 Hour Chart Time-frame Query - Sierra Chart Support Board

cory 

thought on forex hours by Kiwi 240 Min / 4 Hour Chart Time-frame Query - Sierra Chart Support Board

FOREX offers several breakout opportunities per day. Depending on the currency pair, it is possible to trade the opening range breakouts: The Asian open, the London open and the New York open. The indicator uses the New York open, as usually the volatility is highest after that open. But for EURUSD you can also trade breakouts from the European Open or for the Aussie a breakout from the Sydney Open would make sense as well.

There is no overlap between New York and Sydney/Tokio. So the FOREX market opens in Asia and closes at 5:00 PM Eastern Time in New York. These are the times used by the indicator.

This indicator will plot the high and low of the night session. When taken out the indicator continues to plot current day's high and low.

The indicator also has integrated Fibonacci bands for the current day.

Fat Tails 

This indicator will plot the high and low of the night session. When taken out the indicator continues to plot current day's high and low. The indicator also has integrated Fibonacci bands for the current day.

Many thanks!! - will install and see how it works after market close.

Also see indicator under #20. That was the main work, as it automatically plots the opening ranges for a number of futures contracts.

I will add another one, which allows you to plot the European session range. This will be simple, just based on start and end time and plot until the end of the session.

rfiske 

Many thanks!! - will install and see how it works after market close.

Fat Tails 

As a first answer to your request, I attach an indicator which plots the opening range for various futures contracts. I have done this for my own needs as well. There were four things I wanted to integrate: (1) Display the open of the RTH session. (2) If you put the indicator on a chart and then switch instruments, the indicator should automatically select the correct opening period for the instrument. For example the opening period for ES should be 8:30 to 9:30 AM CT, whereas the opening period for 6E should be 8:00 to 9:00 AM ET. This requires that the indicator knows the default values and that you can change them via indicator dialogue. (3) With ever changing daylight savings times between Europe the US and the rest of the world, the indicator should adapt automatically to these times. So you cannot enter the opening time in your local timezone, but you need to indicate teh session length (close time as per session template - opening time). For example for ES the correct session length would be 15:15 - 8:30 = 6h45, for TF the session length would be 18:00 - 9:30 = 8h30. (4) Some of the session start at strange times, like the GC session at 8:20 AM, or the SI session at 8:25 AM. If you use larger time frames the data required to calculate the opening range is not included with the chart data base. There will be no bar opening at 8:25 and you cannot display the correct RTH open. This requires to load minute data separately, and calculate the opening range from this data. (1) to (3) are implemented with the current version, have kept (4) for future improvement. Default session times based on ETH, opening period based on RTH FOREX: ETH session 17:00 ET - 17:00 ET, opening period starts 8:00 ET Currency Futures: ETH session 17:00 CT - 16:00 CT, opening period starts 7:00 CT DX (Dollar Index): ETH session 20:00 ET - 18:00 ET, opening period starts 8:00 ET CME Index Futures: ETH session 15:30 CT - 15:15 CT, opening period starts 8:30 CT TF (Russell 2000): ETH session 20:00 ET - 18:00 ET, opening period starts 9:30 ET EUREX Index Futures: ETH session 8:00 CET - 22:00 CET, opening period starts 9:00 CBOT Interest Rate Futures: ETH session 17:00 CT - 16:00 CT, opening period starts 8:20 CT EUREX Interest Rate Futures: ETH session 8:00 - 22:00 CET, opening period starts 8:00 CL (WTI Crude): ETH session 18:00 ET - 17:15 ET, opening period starts 9:00 ET BC (Brent Crude, ICE): ETH session 20:00 ET - 18:00 ET, opening period starts 9:00 ET GC (Gold) : ETH session 18:00 ET - 17:15 ET, opening period starts 8:20 ET SI (Silver): ETH session 18:00 ET - 17:15 ET, opening period starts 8:25 ET HG (Copper): ETH session 18:00 ET - 17:15 ET, opening period starts 8:10 ET To catch the correct opening period, you need to enter the difference between session end as per session template and the opening time. The solution adapted may look complicated, but there are some advantages: - The indicator will adapt to any chosen template and settings - You can select the duration of the opening period (for example 5, 15, 30 or 60 minutes) - You can switch instruments and the opening range will adapt to the instrument - The opening range will remain correct, when the US has DST for Halloween and Europe is already back to standard time Feedback welcome.

The 'Opening RangeV23 works great now that i worked through the explanation you sent.

I will try to go into the code and edit the labels and save w/ unique name for the other time periods i wanted - like London & Globex

Fat Tails - Again thanks much for your assistance.

Open RangeV23 as you modified it works great.

I changed the code so I have 3 separate indicators for the 3 time periods I want to plot the High/Low/Mid-point for. Also plots Open with the First Hour Indicator. Globex (3:30PM - 8:30AM CST), London-special (2AM - 5 AM CST), and the First Hour[OR] (8:30AM - 9:30AM CST). I set the correct parameters and unique line attributes for each indicator. The modified Indicators all compiled correctly and plotted/function properly.

However, when I tried to Export the Indicators so I could upload them for anyone else that might be interested in them on NexusFi (formerly BMT) forum, I received the Error on the attached.

Couldn't find a solution in the Ninja Help. Any solutions?

@rfiske, the fix is simple most likely: check the Control Center - Log tab, it will tell you which indicator was missing -- then you just need to manually add that to your Export list because NT couldn't figure it out on its own.

Mike

rfiske 

I changed the code so I have 3 separate indicators for the 3 time periods I want to plot the High/Low/Mid-point for. Also plots Open with the First Hour Indicator. Globex (3:30PM - 8:30AM CST), London-special (2AM - 5 AM CST), and the First Hour[OR] (8:30AM - 9:30AM CST). I set the correct parameters and unique line attributes for each indicator. The modified Indicators all compiled correctly and plotted/function properly. However, when I tried to Export the Indicators so I could upload them for anyone else that might be interested in them on NexusFi (formerly BMT) forum, I received the Error on the attached. Couldn't find a solution in the Ninja Help. Any solutions?

(1) The problem is likely created by the enums. You need to rename the enums to something else and replace them in the whole file.

(2) Also may I ask you not to publish these indicators with the prefix "ana" to avoid confusion. Otherwise we may come to the point, where there are 2 similar indicators with identical names and prefixes. So if you load them up, just select any other prefix, for example name your indicators rfiopeningrange... and then make sure that the three indicators do not use the same names for the enumerations.

I will certainly rename them as you suggested. That assumes I can figure out / learn what the enums are. I will read more about the code as I have never even open a file previously. I'm learning a lot - maybe more than I wanted. - LOL