berkusa Weekend and Daily virtual gapThe gap formed during weekends and weekdays on the CME exchange is virtually created because it does not occur on exchanges like Binance, which operate 24/7.
You need to use on crypto exchanges like Binance etc, which operate 24/7.
Weekend and Daily virtualgap Indicator and CME Gap UsageIndicator Overview
This Pine Script indicator visualizes weekend and daily trading sessions on the Bitcoin CME Futures chart, serving as a powerful tool for analyzing CME gaps. The Chicago Mercantile Exchange (CME) operates with limited trading hours (Sunday 18:00 to Friday 17:00, with a daily 1-hour break from 17:00 to 18:00, New York time), unlike the 24/7 spot Bitcoin market. This mismatch creates "gaps" on the CME chart during weekend closures, which this indicator helps identify and analyze alongside session ranges.Key Features Weekend Session (Friday 17:00 - Sunday 18:00): Starts at Friday 17:00 and ends at Sunday 18:00 (New York time).
Box extends to the next Friday 17:00 (yellow, customizable).
Session name and price range (e.g., "WEEKEND 2025-07-18 (123.45)") displayed in the top-right corner (size.tiny).
Historical sessions: Default 3 weeks (weeksBack).
Midpoint line: Drawn at the session’s high-low midpoint, cyan (#00fffb).
Daily Session (17:00-18:00): Runs daily from 17:00 to 18:00 (New York time, excluding weekends).
Box extends to the next day’s 17:00 (blue, customizable).
Session name and price range in the top-right corner (size.tiny).
Historical sessions: Default 7 days (dailySessionsBack).
Midpoint line: Red (#FF0000).
Open Lines: Friday 17:00 or Sunday 18:00 Open Line: User selects “Friday” or “Sunday” (fridayOrSunday). Friday: Open price line extends to the next Friday 17:00.
Sunday: Open price line extends to the same day’s Sunday 18:00 (end of weekend session).
Line count: Default 2 (maxFridayLines), orange (fridayOpenColor).
Daily 18:00 Open Line: Daily 18:00 open price (excluding weekends), extends to the next day’s 18:00 (green, maxDailyLines=2).
Customization: Show/hide options: Weekend sessions (showWeekend), daily sessions (showDaily), open lines (showFridayOpenLines, showDailyOpenLines).
Color settings: Weekend box, daily box, midpoints, open lines.
Text settings: Session name (showSessionName) and range size (showRangeSize).
What Are CME Gaps and How to Use Them?
CME gaps occur when Bitcoin’s spot market moves during CME’s closed hours (Friday 17:00 to Sunday 18:00). For example, if CME closes at 50,000 USDT on Friday and opens at 52,000 USDT on Sunday, a gap forms between 50,000-52,000. Studies suggest that over 70% of these gaps are "filled" (price revisits the gap zone).
Usage in Trading: Support and Resistance: Gap zones often act as support or resistance levels. For instance, a gap between 50,000-52,000 may resist price at 52,000 or support at 50,000.
Entry/Exit Points: Traders can use gaps for entry or exit. Buy when price dips to the gap’s lower bound, or sell when it hits the upper bound.
Market Sentiment: Large gaps indicate sharp weekend sentiment shifts, useful for gauging market direction.
Risk Management: Use gap levels for stop-loss or take-profit points.
Application: Add this indicator to your TradingView chart.
Customize settings: Show/hide weekend or daily sessions.
Choose “Friday” or “Sunday” for open lines.
Adjust colors and historical session counts.
To analyze CME gaps: Use weekend session boxes (Friday 17:00 - Sunday 18:00) to visualize gap zones.
Use Friday 17:00 or Sunday 18:00 open lines to mark gap start or end points.
Monitor price revisiting gap zones, confirming with other indicators (RSI, moving averages).
Notes: Best used on CME Bitcoin Futures (BTC1!) charts.
Not all gaps fill immediately; some may persist for weeks or months.
Questions? Drop a comment, and I’ll help promptly!
Berkusa
Session, Daily, and Weekly Opening Ranges [berkusa]Description:This indicator plots opening range boxes for major trading sessions (Sydney, Asia, Tokyo, Frankfurt, London, New York) as well as daily, weekly, and monthly ranges, helping traders identify key price levels for breakout and reversal strategies. Each box represents the high and low prices during the specified session or timeframe, with customizable durations and display options. For daily, weekly, and monthly ranges, a dotted silver midline (50% transparency) is drawn at the midpoint of the high and low, serving as a critical pivot level.Key Features:Session Ranges: Displays boxes for Sydney, Asia, Tokyo, Frankfurt, London, and New York sessions, capturing the high and low during user-defined session times (e.g., 15-minute windows).
Daily, Weekly, Monthly Ranges: Plots boxes for daily, weekly, and monthly opening ranges, with midlines to highlight key pivot levels.
Customizable Settings: Adjust session times, number of boxes displayed (e.g., 5 sessions, 3 daily, 2 weekly, 2 monthly), colors, and text visibility.
Text Labels: Shows session names and dates (e.g., "TOKYO Monday", "MONTHLY 2025-07") for easy identification.
Time Zone: Uses "America/New_York" for accurate session timing, with boxes capped at 500 bars to comply with Pine Script limitations.
How to Use for Trading:Session Openings: Session ranges (e.g., New York 09:30-09:45) capture the initial market volatility, ideal for breakout trading. Enter trades when the price breaks above the session high or below the session low, with stop-losses placed just outside the opposite boundary. For example, a breakout above the New York session high could target the next resistance level, with a stop below the session low.
Daily Ranges: Daily boxes highlight the day’s opening range (e.g., 00:00-00:15). The midline acts as a pivot: prices above it suggest bullish momentum, while prices below indicate bearish pressure. Use the midline for mean-reversion trades or as a reference for stop-loss placement.
Weekly and Monthly Ranges: These longer-term ranges identify significant support and resistance zones. The weekly and monthly midlines are key levels where price often reacts, making them ideal for swing trading or position trading. For instance, a rejection at the monthly midline could signal a reversal, while a breakout past the weekly high/low may indicate a trend continuation.
Trading Tips:Combine session breakouts with volume or momentum indicators to confirm entries.
Use daily midlines as targets for intra-day trades or as support/resistance for scalping.
Monitor weekly/monthly midlines for major reversals, especially near economic events or key price levels.
Importance of Key Levels:Daily Levels: The daily opening range and midline are critical for intra-day traders, as they define the day’s bias and potential reversal points. Prices often respect these levels during the session, providing high-probability setups.
Weekly Levels: Weekly ranges and midlines are significant for swing traders, as they reflect the market’s broader sentiment. Price reactions at these levels often align with macroeconomic events or trend changes.
Monthly Levels: Monthly ranges and midlines are pivotal for position traders and long-term investors. These levels act as major support/resistance zones, often influencing price for weeks or months. The monthly midline is especially important, as it frequently serves as a magnet for price or a barrier during strong trends.
Settings:Session Times: Customize session start/end times (e.g., "09:30-09:45" for New York).
Display Counts: Set the number of session (default: 5), daily (3), weekly (2), and monthly (2) boxes to display.
Colors: Adjust box colors for each session/range; midlines are silver with 50% transparency.
Show Session Name and Day: Enable/disable text labels for session names and dates.
Extra Days: Extend session/daily boxes by additional days (default: 1) for visibility.
Notes:Use a 5-minute or 15-minute timeframe for session and daily ranges, and a 1-hour or daily timeframe for weekly/monthly ranges to ensure boxes span meaningful periods.
On small timeframes (e.g., 1-minute), boxes may be capped at 500 bars (e.g., 8.33 hours), which may truncate weekly/monthly ranges. Higher timeframes (e.g., 1-hour) allow longer spans (e.g., 20.83 days).
Test the indicator on liquid markets (e.g., EUR/USD, SPX) for best results.
Author’s Note:
This indicator is designed for traders seeking to capitalize on opening range breakouts and key pivot levels. Combine with other technical tools and risk management for optimal results. Feedback is welcome!
B-auto fibA new interactive input mode for price and time inputs is now available. Instead of selecting bar numers and/or time from input widgets, you can now select them by clicking on the chart.
The interactive mode is activated by using confirm = true in input.time() and input.price().
This is code for an Anchored fibonachi indicator where the anchor point is set interactively
this way you can change start date and fib level is calculating automaticly indicator is finding highest and lowest price and calculating fib levels
thanks to versiyon5
i hope tradingview will make a fibo widget like Anchored VWAP it will be very usefull
thanks good works so far :)
