OPEN-SOURCE SCRIPT
MoChen - Crypto Sessions and D/W/M Opens
OVERVIEW
MoChen Crypto Sessions and DWM Opens is an overlay indicator designed for continuously traded cryptocurrency markets.
The script combines three configurable regional market sessions with UTC-based Daily, Weekly, and Monthly opening levels. Its purpose is to provide a consistent time-and-price framework for intraday analysis without requiring traders to redraw the same sessions and period-opening levels manually.
The indicator does not generate buy or sell signals. It provides contextual reference levels that can be combined with market structure, liquidity analysis, support and resistance, or the trader's own execution model.
SESSION FRAMEWORK
The default sessions are:
- Asian: 09:00-13:30 in Asia/Taipei
- London: 08:00-16:30 in Europe/London
- New York: 09:30-16:00 in America/New_York
These are configurable analysis windows for cryptocurrency trading. They should not be interpreted as official cryptocurrency exchange opening or closing hours because cryptocurrency markets trade continuously.
Each session uses its own IANA time zone. Europe/London and America/New_York automatically follow their respective daylight-saving-time rules, so users do not need to switch manually between summer and winter offsets.
While a session is active, the script tracks:
- Session open
- Developing session high
- Developing session low
- Latest session close
The session range updates as new bars form. When the session ends, its completed range stops updating.
Users can independently control:
- Session visibility
- Session time
- Session name
- Color and background opacity
- Open, close, high, and low visibility
- Line style and width
- Session labels
- Number of completed sessions retained
DAILY, WEEKLY, AND MONTHLY OPENS
The indicator also calculates three UTC-based period-opening references:
- D: Daily open at 00:00 UTC
- W: Weekly open at Monday 00:00 UTC
- M: Monthly open on the first calendar day at 00:00 UTC
These levels represent the opening price of the first available chart bar belonging to the corresponding UTC period.
The default visual hierarchy is:
- Daily Open: blue solid line, width 1
- Weekly Open: cyan solid line, width 2
- Monthly Open: yellow solid line, width 3
OVERLAPPING DWM LEVELS
A key feature of the script is its handling of overlapping Daily, Weekly, and Monthly opens.
When two or more periods begin from the same price, the indicator does not draw several identical lines on top of one another. It displays one consolidated level and uses the higher-timeframe visual style.
The priority is:
Monthly > Weekly > Daily
Examples:
- A Monday Daily Open that matches the Weekly Open is initially displayed as W/D.
- After that Daily period ends, the same higher-timeframe level is displayed as W.
- If a new month begins on Monday, the combined level is initially displayed as M/W/D.
- After the Daily period ends, it becomes M/W.
- After the Weekly period ends, the remaining higher-timeframe reference is displayed as M.
The underlying Daily, Weekly, and Monthly period states remain separate. Only their visual presentation is consolidated to reduce chart clutter and avoid making one price appear to be several different levels.
HOW TO USE THE INDICATOR
The session ranges can help traders observe:
- Expansion from an established regional range
- Breakouts above or below a completed session
- Reactions around a session open
- Continuation or reversal between Asian, London, and New York participation
- Whether price is trading above or below the Daily, Weekly, or Monthly open
One possible analysis sequence is:
1. Identify the current position relative to the Weekly and Monthly Open.
2. Observe the range formed during the Asian session.
3. Evaluate whether London expands, rejects, or remains inside that range.
4. Observe how New York reacts to the completed Asian and London ranges.
5. Use market structure and risk management to determine whether a trade is justified.
The indicator itself does not define an entry, stop loss, take profit, or directional forecast.
ORIGINAL IMPLEMENTATION
This script uses an independently implemented session and period-level architecture.
Its main distinguishing elements are:
- Three separately managed session states
- IANA-based daylight-saving-time handling
- Developing session ranges that freeze after completion
- Independent historical-object retention for each session
- UTC-based Daily, Weekly, and Monthly period detection
- Consolidated DWM display with higher-timeframe priority
- Dynamic removal of lower-timeframe labels after their periods expire
- Controlled line, label, and box lifecycle management
The DWM consolidation system is intended to preserve the meaning of each period while displaying only the most relevant higher-timeframe reference when multiple levels occupy the same price.
TIMEFRAME AND DATA LIMITATIONS
The session component is intended primarily for intraday charts.
Recommended chart timeframes include:
- 1 minute
- 3 minutes
- 5 minutes
- 15 minutes
- 30 minutes
On higher chart timeframes, a bar may span across a session boundary. In that case, the first or last chart bar detected inside a session may not represent the exact minute-level opening or closing price.
For example, a New York session beginning at 09:30 cannot always be represented precisely on a 1-hour or 4-hour chart.
The Daily, Weekly, and Monthly levels are based on UTC calendar boundaries. Users who require exchange-specific daily candles should verify whether their selected symbol's data feed aligns with the UTC period definition used by this script.
REAL-TIME BEHAVIOR
The developing high and low of an active session change as new price information becomes available. This is expected real-time behavior.
After a session ends, its completed high, low, open, and close references no longer update.
The script is designed without future-looking or lookahead calculations. It does not use completed future bars to alter earlier session results.
DISCLAIMER
This script is intended for educational, analytical, and informational purposes only.
It does not constitute financial advice, an investment recommendation, or a guarantee of future results. Users remain responsible for their own analysis, trading decisions, position sizing, and risk management.
繁體中文說明
MoChen Crypto Sessions and DWM Opens 是一套為 24 小時加密貨幣市場設計的圖表指標。
它整合三個主要市場時段，以及依 UTC 計算的日開、週開與月開，協助交易者建立一致的時間與價格參考架構，減少每天重複標記時段與開盤價的工作。
本指標不提供自動買賣訊號。
一、三大市場時段
預設時段為：
- Asian：09:00-13:30，Asia/Taipei
- London：08:00-16:30，Europe/London
- New York：09:30-16:00，America/New_York
這些是加密貨幣盤面分析使用的時間區間，不代表加密貨幣交易所的官方開盤或收盤。
倫敦與紐約使用 IANA 當地時區，因此會自動依日期處理夏令與冬令時間，不需要使用者手動切換 UTC 偏移。
時段進行中，指標會持續更新：
- 時段開盤價
- 時段最高價
- 時段最低價
- 最新時段收盤價
時段結束後，已完成區間停止更新。
二、日開、週開與月開
三個週期基準固定為：
- D：每日 UTC 00:00
- W：每週一 UTC 00:00
- M：每月第一天 UTC 00:00
預設樣式：
- D：藍色實線，線寬 1
- W：青色實線，線寬 2
- M：黃色實線，線寬 3
三、D／W／M 重疊處理
當日開、週開或月開位於同一個價格時，指標不會重複畫出多條完全相同的線。
顯示優先級為：
M > W > D
例如：
- 星期一的日開與週開相同時，建立當下顯示 W/D。
- 當日結束後，該高週期位置只顯示 W。
- 月初剛好是星期一時，建立當下顯示 M/W/D。
- 日線週期結束後顯示 M/W。
- 週線週期結束後只保留 M。
日、週、月的內部計算仍然彼此獨立，只有圖表上的顯示會進行整合。
四、使用方式
可以用來觀察：
- 亞洲時段建立的區間
- 倫敦是否延續或突破亞洲區間
- 紐約是否掃取或突破先前時段高低點
- 價格位於日開、週開與月開上方或下方
- 價格對時段開盤價及高週期開盤價的反應
建議搭配市場結構、流動性、支撐壓力與風險管理使用。
本指標不會自動提供進場、停損、止盈或方向預測。
五、週期限制
建議使用：
- 1 分鐘
- 3 分鐘
- 5 分鐘
- 15 分鐘
- 30 分鐘
在 1 小時或 4 小時等較高週期中，一根 K 棒可能橫跨時段邊界，因此時段開盤價與收盤價未必能精準對應到分鐘級時間。
六、即時更新與重繪說明
時段尚未結束時，最高價與最低價會隨即時價格更新，這是正常的進行中計算。
時段完成後，已完成區間不再更新。
本指標不使用未來資料產生歷史訊號。
免責聲明
本指標僅供教育、研究與盤面分析使用，不構成任何投資建議，也不保證任何交易結果。
使用者應自行完成交易判斷並做好風險管理。
MoChen Crypto Sessions and DWM Opens is an overlay indicator designed for continuously traded cryptocurrency markets.
The script combines three configurable regional market sessions with UTC-based Daily, Weekly, and Monthly opening levels. Its purpose is to provide a consistent time-and-price framework for intraday analysis without requiring traders to redraw the same sessions and period-opening levels manually.
The indicator does not generate buy or sell signals. It provides contextual reference levels that can be combined with market structure, liquidity analysis, support and resistance, or the trader's own execution model.
SESSION FRAMEWORK
The default sessions are:
- Asian: 09:00-13:30 in Asia/Taipei
- London: 08:00-16:30 in Europe/London
- New York: 09:30-16:00 in America/New_York
These are configurable analysis windows for cryptocurrency trading. They should not be interpreted as official cryptocurrency exchange opening or closing hours because cryptocurrency markets trade continuously.
Each session uses its own IANA time zone. Europe/London and America/New_York automatically follow their respective daylight-saving-time rules, so users do not need to switch manually between summer and winter offsets.
While a session is active, the script tracks:
- Session open
- Developing session high
- Developing session low
- Latest session close
The session range updates as new bars form. When the session ends, its completed range stops updating.
Users can independently control:
- Session visibility
- Session time
- Session name
- Color and background opacity
- Open, close, high, and low visibility
- Line style and width
- Session labels
- Number of completed sessions retained
DAILY, WEEKLY, AND MONTHLY OPENS
The indicator also calculates three UTC-based period-opening references:
- D: Daily open at 00:00 UTC
- W: Weekly open at Monday 00:00 UTC
- M: Monthly open on the first calendar day at 00:00 UTC
These levels represent the opening price of the first available chart bar belonging to the corresponding UTC period.
The default visual hierarchy is:
- Daily Open: blue solid line, width 1
- Weekly Open: cyan solid line, width 2
- Monthly Open: yellow solid line, width 3
OVERLAPPING DWM LEVELS
A key feature of the script is its handling of overlapping Daily, Weekly, and Monthly opens.
When two or more periods begin from the same price, the indicator does not draw several identical lines on top of one another. It displays one consolidated level and uses the higher-timeframe visual style.
The priority is:
Monthly > Weekly > Daily
Examples:
- A Monday Daily Open that matches the Weekly Open is initially displayed as W/D.
- After that Daily period ends, the same higher-timeframe level is displayed as W.
- If a new month begins on Monday, the combined level is initially displayed as M/W/D.
- After the Daily period ends, it becomes M/W.
- After the Weekly period ends, the remaining higher-timeframe reference is displayed as M.
The underlying Daily, Weekly, and Monthly period states remain separate. Only their visual presentation is consolidated to reduce chart clutter and avoid making one price appear to be several different levels.
HOW TO USE THE INDICATOR
The session ranges can help traders observe:
- Expansion from an established regional range
- Breakouts above or below a completed session
- Reactions around a session open
- Continuation or reversal between Asian, London, and New York participation
- Whether price is trading above or below the Daily, Weekly, or Monthly open
One possible analysis sequence is:
1. Identify the current position relative to the Weekly and Monthly Open.
2. Observe the range formed during the Asian session.
3. Evaluate whether London expands, rejects, or remains inside that range.
4. Observe how New York reacts to the completed Asian and London ranges.
5. Use market structure and risk management to determine whether a trade is justified.
The indicator itself does not define an entry, stop loss, take profit, or directional forecast.
ORIGINAL IMPLEMENTATION
This script uses an independently implemented session and period-level architecture.
Its main distinguishing elements are:
- Three separately managed session states
- IANA-based daylight-saving-time handling
- Developing session ranges that freeze after completion
- Independent historical-object retention for each session
- UTC-based Daily, Weekly, and Monthly period detection
- Consolidated DWM display with higher-timeframe priority
- Dynamic removal of lower-timeframe labels after their periods expire
- Controlled line, label, and box lifecycle management
The DWM consolidation system is intended to preserve the meaning of each period while displaying only the most relevant higher-timeframe reference when multiple levels occupy the same price.
TIMEFRAME AND DATA LIMITATIONS
The session component is intended primarily for intraday charts.
Recommended chart timeframes include:
- 1 minute
- 3 minutes
- 5 minutes
- 15 minutes
- 30 minutes
On higher chart timeframes, a bar may span across a session boundary. In that case, the first or last chart bar detected inside a session may not represent the exact minute-level opening or closing price.
For example, a New York session beginning at 09:30 cannot always be represented precisely on a 1-hour or 4-hour chart.
The Daily, Weekly, and Monthly levels are based on UTC calendar boundaries. Users who require exchange-specific daily candles should verify whether their selected symbol's data feed aligns with the UTC period definition used by this script.
REAL-TIME BEHAVIOR
The developing high and low of an active session change as new price information becomes available. This is expected real-time behavior.
After a session ends, its completed high, low, open, and close references no longer update.
The script is designed without future-looking or lookahead calculations. It does not use completed future bars to alter earlier session results.
DISCLAIMER
This script is intended for educational, analytical, and informational purposes only.
It does not constitute financial advice, an investment recommendation, or a guarantee of future results. Users remain responsible for their own analysis, trading decisions, position sizing, and risk management.
繁體中文說明
MoChen Crypto Sessions and DWM Opens 是一套為 24 小時加密貨幣市場設計的圖表指標。
它整合三個主要市場時段，以及依 UTC 計算的日開、週開與月開，協助交易者建立一致的時間與價格參考架構，減少每天重複標記時段與開盤價的工作。
本指標不提供自動買賣訊號。
一、三大市場時段
預設時段為：
- Asian：09:00-13:30，Asia/Taipei
- London：08:00-16:30，Europe/London
- New York：09:30-16:00，America/New_York
這些是加密貨幣盤面分析使用的時間區間，不代表加密貨幣交易所的官方開盤或收盤。
倫敦與紐約使用 IANA 當地時區，因此會自動依日期處理夏令與冬令時間，不需要使用者手動切換 UTC 偏移。
時段進行中，指標會持續更新：
- 時段開盤價
- 時段最高價
- 時段最低價
- 最新時段收盤價
時段結束後，已完成區間停止更新。
二、日開、週開與月開
三個週期基準固定為：
- D：每日 UTC 00:00
- W：每週一 UTC 00:00
- M：每月第一天 UTC 00:00
預設樣式：
- D：藍色實線，線寬 1
- W：青色實線，線寬 2
- M：黃色實線，線寬 3
三、D／W／M 重疊處理
當日開、週開或月開位於同一個價格時，指標不會重複畫出多條完全相同的線。
顯示優先級為：
M > W > D
例如：
- 星期一的日開與週開相同時，建立當下顯示 W/D。
- 當日結束後，該高週期位置只顯示 W。
- 月初剛好是星期一時，建立當下顯示 M/W/D。
- 日線週期結束後顯示 M/W。
- 週線週期結束後只保留 M。
日、週、月的內部計算仍然彼此獨立，只有圖表上的顯示會進行整合。
四、使用方式
可以用來觀察：
- 亞洲時段建立的區間
- 倫敦是否延續或突破亞洲區間
- 紐約是否掃取或突破先前時段高低點
- 價格位於日開、週開與月開上方或下方
- 價格對時段開盤價及高週期開盤價的反應
建議搭配市場結構、流動性、支撐壓力與風險管理使用。
本指標不會自動提供進場、停損、止盈或方向預測。
五、週期限制
建議使用：
- 1 分鐘
- 3 分鐘
- 5 分鐘
- 15 分鐘
- 30 分鐘
在 1 小時或 4 小時等較高週期中，一根 K 棒可能橫跨時段邊界，因此時段開盤價與收盤價未必能精準對應到分鐘級時間。
六、即時更新與重繪說明
時段尚未結束時，最高價與最低價會隨即時價格更新，這是正常的進行中計算。
時段完成後，已完成區間不再更新。
本指標不使用未來資料產生歷史訊號。
免責聲明
本指標僅供教育、研究與盤面分析使用，不構成任何投資建議，也不保證任何交易結果。
使用者應自行完成交易判斷並做好風險管理。
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.