I thought I would create something based on what I use in my trading style around Volume Price Analysis and Fibonacci trading.
This tool combines the work of Dr. Alexander Elder (The Elder Ray Index) and the original work done by Rob Booker (The Power of 62).
Basics of the Elder Ray Index: The Elder Ray Index uses indicators to measure buying and selling...
-This tool allows the user to encapsulate ( box-in ) a single session ( Asian, London, New York - Only on the 1H Time Frame) trading range and then calculates the 50% midpoint of the single session high and low (the past six sessions are displayed).
-This information is beneficial if you are looking to trade during specific Time Price Opportunities ...
This strategy can be used on ANY instrument (Forex, Stocks, Cryptocurrency, etc.) AND on ANY TF (Time Frame). The purpose of me sharing this is to show people the power of using a Fibonacci-based trading system combined with Institutional market looks and how associated price action reacts and responds at these levels within the market. This is nothing new with...
![USDJPY: FxAST Bull Bear Power 62 [ALLDYN]](https://s3.tradingview.com/y/YxzE4ZnU_mid.png "FxAST Bull Bear Power 62 [ALLDYN]")
![GBPUSD: FxAST Session Encapsulation + VWAP [ALLDYN]](https://s3.tradingview.com/s/ShSwpw9f_mid.png "FxAST Session Encapsulation + VWAP [ALLDYN]")
![CHWY: FxASTLite Strategy[ALLDYN]](https://s3.tradingview.com/q/qmmgojzo_mid.png "FxASTLite Strategy[ALLDYN]")