This trading view script is a simple one but I find it very helpful in spotting changes in trend of FX.
The basic idea is to create a visual direction from the previous session to the next new session.
The concept while basic provides visual trend direction and changes as session change.
The three sessions are:
1. Asia from 2130-0400 2. Europe from 0300-1130 3. America from 0930-1600
When you use a line chart you will see the default line when no sessions are active.
Features I plan to add * Tracking delta of each session * Moving Averages of each session * Momentum of each session * Delta difference
My ultimate goal for this script will be to provide a way to visualize the impact of each session and provide data to buy/sell triggers for Trading Strategies.
Please provide feedback and if you use the script or add a feature please update me or send me the feature to add to the script.
I've had this notion over the years but gave up on it. There's no reliable correlation between global markets and US equities, other than they tend to follow US price, not the other way round. Many many times London will be bullish AH but NYSE opens down and goes lower. Nice idea but probly not very useful.
SPYvsGME
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@DaddySawbucks, I agree. It has been sitting on the coding room floor for a while now. It's meant for ES and VIX trigger to determine if there will be VANNA rally in the AM. Cem Karsan mentioned many times in the past that the Vanna rally will be front-run in the EU and ASIA trading sessions. If you follow him he posted a VANNA meme at 1am twitter.com/jam_croissant/status/1635144679217065986. He mentioned in the past there are some indications in other sessions that tip the dealers' hat. I think it has to do with sessions. The reason I posted this one is to recruit some help in identifying that signal.
DaddySawbucks
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@SPYvsGME, Tysm for education post, prompted me to look up Vanna Rally, it's driven by Implied Volatility, futures hedging by MMs short puts and long calls, seems that when market is deeply oversold the 'Vanna line' gets skewed so when price lifts sharply on bargain hunting and short covering they have to buy futures to get neutral, it's like putting out fire with gasoline: spotgamma.com/options-vanna-rally/