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Highlight a specific time frame / session on a chart
Is there a way to highlight a specific time frame on a chart in NinjaTrader? (Although now I use NinjaTrader, I’m really curious about whether is this possible in MultiCharts?)
I’d like to highlight e.g. the NY close session, or any other selectable duration (30 mins, 2 hours etc) time period.
I’d like to do this in a way that the highlights are repeated on the chart, so for example if I watch a 15 min chart for a period of 30 days, the time frames should be highlighted on all the 30 days.
Is there an indicator for this purpose or any solution?
Exported using NT 7.0.1000.1
This is a simple indicator that colors the background of your charts according to the current session template.
To use the indicator you first need to create a session template that reflects the different intraday …
If you want to highlight parts of trading session this can be done in a similar way. It would just need a small modification of the indicator.
It is important to use the session feature, otherwise you will run into issues with the different daylight savings schedules sooner or later.
Thank you for your help.
This indicator is great. And the others that you have created, too.
Accept my sincere and profound reverence for your efforts for helping others with such great indicators and post and comments.
By the way, what is the purpose of trading sessions and more specifically, session templates?
I mean, why wouldn’t you simply set 24/7 for any instrument? If there is no data coming, the chart will halt, so you end up with the same chart as if you would set the appropriate session template with selective time frames.
What do you gain if you set the appropriate session template instead of 24/7?
Usually a trading session for futures includes the night session and the day session, which is identical with the floor session. There is a number of trading tools that require the exact start time and end time of the day session. These include
Session templates simply store start and end times of these sessions and make them available for use with indicators and strategies.
Let us assume that I want to trade ES and CL and use some of the above tools with and without a session template.
Without a session template:
Store session start and end time for each traded instrument within each indicator (LOL). Otherwise when toggling from one instrument to another you would need to reenter session start and end times. Convert US time to European time. Use different time conversion algorithms for each instrument (LOL). Code an algorithm to cope with different daylight savings rules to compensate for the differences between local time and exchange time (this is actually fun, I did it for NT 6.5).
With a session template:
Once create session template for each instrument and attach the template to instrument via instrument manager. Use <instrument settings> for all charts.
For all instruments you can now access session start and end times in your local time zone. Toggling from one instrument to another, different daylight savings schedules, no problem, your session start and end times are always correct.
Let us say that without session templates it is near impossible to use the above trading tools.
FDAX is a bit different from CL. My experience is that ETH pivots work better than RTH pivots in general, but there can be exceptions. ON many days they are identical, if the price action after 5:30 PM is range bound.