OPEN-SOURCE SCRIPT
Asia, London & NY - 50% Level
Asia, London & NY – 50% Level
This indicator automatically tracks the three major trading sessions — Asia, London, and New York — and plots the 50% (midpoint) level of each session's price range directly on the chart.
How it works
For each session, the indicator continuously monitors the highest high and lowest low reached while that session is active. Once it has both extremes, it calculates the midpoint — (session high + session low) / 2 — and draws a horizontal line at that level, labeled accordingly ("50% Asia", "50% London", "50% NY").
Key features
Custom session times: Each session's start/end time is fully configurable via the settings, along with the timezone used for calculation (defaults to America/New_York, but can be set to any timezone).
Live or end-of-session drawing: You can choose whether the level line appears in real time while the session is still forming, or only once the session has fully closed.
Mitigation tracking: After a session ends, the indicator keeps watching price action. If price later comes back and touches that 50% level, the line is automatically marked as "mitigated" — its color and style change (customizable dashed/dotted/solid), and the line stops extending forward, effectively showing at a glance which historical levels have already been revisited by price.
Minimum expansion filter: An optional filter lets you ignore sessions where the price range was too small (below a configurable percentage), so the chart isn't cluttered with insignificant levels from low-volatility sessions.
Full visual customization: Line color, width, and label size can be set independently for each of the three sessions.
This indicator automatically tracks the three major trading sessions — Asia, London, and New York — and plots the 50% (midpoint) level of each session's price range directly on the chart.
How it works
For each session, the indicator continuously monitors the highest high and lowest low reached while that session is active. Once it has both extremes, it calculates the midpoint — (session high + session low) / 2 — and draws a horizontal line at that level, labeled accordingly ("50% Asia", "50% London", "50% NY").
Key features
Custom session times: Each session's start/end time is fully configurable via the settings, along with the timezone used for calculation (defaults to America/New_York, but can be set to any timezone).
Live or end-of-session drawing: You can choose whether the level line appears in real time while the session is still forming, or only once the session has fully closed.
Mitigation tracking: After a session ends, the indicator keeps watching price action. If price later comes back and touches that 50% level, the line is automatically marked as "mitigated" — its color and style change (customizable dashed/dotted/solid), and the line stops extending forward, effectively showing at a glance which historical levels have already been revisited by price.
Minimum expansion filter: An optional filter lets you ignore sessions where the price range was too small (below a configurable percentage), so the chart isn't cluttered with insignificant levels from low-volatility sessions.
Full visual customization: Line color, width, and label size can be set independently for each of the three sessions.
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.